Get instant alerts when news breaks on your stocks. Claim your one week free trial for StreetInsider Premium here.
Decisive and positive actions taken to stabilize and transform MIMEDX have Established a solid new foundation for growth
Company urges shareholders to vote ‘FOR’ the two highly qualified director nominees – James L. Bierman and Phyllis Gardner, MD – on WHITE proxy card
MARIETTA, Ga., May 18, 2022 (GLOBE NEWSWIRE) — MiMedx Group, Inc. (NASDAQ: MDXG) (“MIMEDX” or the “Company”), a transformational placental biologics company, today filed a presentation to investors with the United States Securities and Exchange Commission in connection with its 2022 annual meeting of shareholders, scheduled to be held on June 7, 2022. The presentation and other important shareholder materials are available at www.VoteMIMEDX.com.
In the presentation, MIMEDX outlines the significant progress the company has made over the past three years under the leadership of its current management team and provides transparency on a number of shareholder-relevant topics and initiatives, including:
- Long-term value creation strategy: MIMEDX has taken decisive steps to sustain, stabilize and successfully grow the company over the past three years, and has a clear strategy for creating long-term shareholder value. MIMEDX recently announced a third consecutive quarter of double-digit growth for its Advanced Wound Care & Surgical Recovery products, demonstrating strong execution. In addition, the realignment of the company’s internal business structure enables MIMEDX to continue to expand, innovate and drive sustained growth, as well as accelerate the start of trial recruitment into its clinical trial program in knee osteoarthritis.
- Corporate Governance Practices and Board Qualifications: MIMEDX’s Board of Directors has been fully reconstituted since 2019 and is comprised of nine highly qualified directors with the critical skills, life science experience and business acumen to oversee the company’s strategy. The Board of Directors has passed approximately 70 best-practice, shareholder-friendly corporate governance reforms over the past three years and resolved all of the company’s legacy issues, demonstrating its commitment to best-practice governance .
- Executive compensation: MIMEDX executive compensation, determined in partnership with an independent consultant, is based on an organizational and individual performance philosophy and is aligned with shareholder value through performance factors, including revenue growth, and a significant portion of total stock compensation. It sits well within the range of MIMEDX peers and is closely aligned with shareholder interests. For example, in part due to the company’s declining stock price, none of the MIMEDX executives received annual cash bonuses at their 2021 target levels.
|Your vote matters no matter how many or how many shares you own You can vote by Internet, by telephone or by signing and dating the WHITE proxy card and mail it in the envelope provided. If you have any questions about how to vote for your shares or need further assistance, please contact: TOMORROW SODALI [email protected] (203) 658-9400 or Toll Free (800) 662-5200|
MIMEDX is a transformational placental biologics company, developing and distributing placental tissue allografts with proprietary and proprietary processes for multiple healthcare sectors. As a pioneer in placental tissue engineering, we have both commercial activity, focused on the needs of patients with acute and chronic non-healing wounds, and a promising late-stage pipeline aimed at reducing pain and improving function of patients with degenerative musculoskeletal disorders. terms. We derive our products from human placental tissues and process these tissues using our proprietary methods, including the PURION® process. We use current good tissue practices, current good manufacturing practices and terminal sterilization to produce our allografts. MIMEDX has supplied over two million allografts, through direct and consignment shipments. For more information, please visit www.mimedx.com.
This press release contains forward-looking statements. Statements regarding: (i) our belief that the long-term strategy we have chosen is in the best interest of our shareholders; (ii) our belief that as we continue to execute on our stated objectives and navigate our next phase of growth, we are well positioned for the future; and (iii) our belief that the experience, expertise and commitment of MIMEDX’s management team, as overseen by our Board of Directors, will help position the company for future success and value creation. . Other forward-looking statements may be identified by words such as “believe”, “expect”, “may”, “plan”, “target”, “outlook”, “potential”, “will”, “preliminary and other expressions and are based on management’s current beliefs and expectations.
Forward-looking statements are subject to risks and uncertainties, and the Company cautions investors against placing undue reliance on such statements. Actual results may differ materially from those set forth in the forward-looking statements. Factors that could cause actual results to differ from expectations include: (i) future sales are uncertain and are affected by competition, access to customers, patient access to healthcare providers and many other factors ; (ii) the status, timing, results and expected results of the Company’s clinical trials, anticipated regulatory submissions and regulatory approvals, as well as our expectations regarding our ability to potentially accelerate the timing of any trial or regulatory submission, depend on a number of factors, including favorable trial results, patient access and our ability to manufacture in accordance with current good manufacturing practices (CGMP) and appropriate chemistry and manufacturing controls; (iii) the Company may change its plans due to unforeseen circumstances or delays in the analysis and audit of results, and may delay or change the timing of future testing, analysis or public announcements; (iv) our access to hospitals and healthcare facilities may be restricted due to the ongoing COVID-19 pandemic or other factors; (v) the results of scientific research are uncertain and may have little or no value; (vi) our ability to sell our products in other countries depends on a number of factors, including adequate reimbursement levels, regulatory approvals, market acceptance of new therapies and our ability to build and manage a direct sales force or distribution relationship with third parties; (vii) the effectiveness of amniotic tissue as a therapy for particular indications or conditions is the subject of further scientific and clinical studies; and (viii) we may change the timing and amount of planned research and development expenditures based on the results of clinical trials and other regulatory developments. The Company describes additional risks and uncertainties in the Risk Factors section of its most recent annual report and quarterly reports filed with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date of this press release and the Company undertakes no obligation to update any forward-looking statement.
Important additional information
The Company, its directors, director nominees and certain of its senior officers are participating in the solicitation of proxies from shareholders of the Company in connection with the 2022 annual meeting of shareholders (the ” 2022 annual meeting”). The Company has filed a definitive proxy statement and a WHITE proxy card with the Securities and Exchange Commission (the “SEC”) in connection with such solicitation of proxies from shareholders of the Company. SHAREHOLDERS OF THE COMPANY ARE STRONGLY ENCOURAGED TO READ THE ACCOMPANYING PROXY CIRCULAR WHITE THE PROXY CARD AND ALL OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY AS THEY CONTAIN IMPORTANT INFORMATION. The Company’s Definitive Proxy Circular for the 2022 Annual Meeting Contains Information Concerning the Direct and Indirect Interests, by Securities Held or Otherwise, of Directors, Nominee Directors and Executive Officers of the Company in matters to be addressed at the 2022 Annual Meeting. Information regarding subsequent changes in their holdings of Company securities may be found in filings with the SEC on Forms 3, 4 and 5 , which are available on the Company’s website at www.mimedx.com or via the SEC website at www.sec.gov. Information may also be found in the Company’s other filings with the SEC, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2021. Shareholders may obtain the definitive proxy statement , any amendments or supplements to the proxy statement and other documents filed by the Company free of charge with the SEC at the SEC’s website at www.sec.gov. Copies are also available free of charge on the Company’s website at www.mimedx.com.
Investors:Jack HowarthInvestor Relations404-360-5681[email protected]
Media:Hilary DixonCorporate and Strategic Communications404-323-4779[email protected]
Source: MiMedx Group, Inc.