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MiMedx Group Inc.


MiMedx Group Inc. is an integrated developer, processor and marketer of patent protected regenerative biomaterial products and bioimplants processed from human amniotic membrane. Its mission is to give physicians products and tissues to help the body heal itself. The company's biomaterial platform technologies include AmnioFix and EpiFix, tissue technologies processed from human amniotic membrane that is derived from donated placentas. MiMedx processes the human amniotic membrane with its proprietary Purion process to produce a safe and effective implant. MiMedx is the leading supplier of amniotic tissue, having supplied over 250,000 allografts to date for application in the wound care, surgical, sports medicine, ophthalmic and dental sectors of healthcare.

The information provided below is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.

Expert Comments:

William Plovanic, Canaccord Genuity (10/15/14) "We reiterate our Buy rating following MiMedx Group Inc.'s 2014 analyst day. We came away from the meeting with a clearer view of management's near- and long-term growth strategies and goals. Specifically, the strategy to leverage its product portfolio thus transforming MiMedx into a broader regenerative medicine company. . .we are raising our price target to $13/share from $12/share."

Bruce Jackson, Lake Street Capital Markets (10/13/14) "Expanding into the advanced wound care market is primary growth driver for MiMedx Group Inc. in 2014, assisted by the expansion of the sales force by 46 people in Q1/14. Gaining more insurance coverage in the private pay market should allow further extension of EpiFix sales into the wound care market during 2015."

William Plovanic, Canaccord Genuity (8/19/14) "In the wound care space, my favorite company is MiMedx Group Inc., which is providing better, faster and cheaper technology compared to current therapies. . .MiMedx is focused on advanced wound-covering/regeneration technologies in the skin substitute market. MiMedx uses amniotic tissue derived from live birth placenta. Published clinical data demonstrated a 92% wound-healing rate in diabetic foot ulcers. Patients typically require two or three grafts, with a total cost per patient of $2-3K.

Since commercializing its products over the last several years, MiMedx has grown significantly and has taken a significant portion of market share. The products work well, reimbursement is in place and distribution continues to ramp to properly address the U.S. market." More >

Mike Matson, Needham & Co (7/29/14) "MiMedx Group Inc.'s commercial wound care business drove strong Q2/14 results that beat consensus revenue and EBITDA deductions estimates, and gross margin reached an all-time high of 89%. . .we expect the firm's efforts to expand both its sales force and reimbursement coverage to continue to drive rapid revenue growth and we reiterate our Buy rating. Revenue was $25.6M (up 89% YOY) and adjusted EBITDA was $2.9M. . .management raised its 2014 revenue guidance to $110115M. . .wound care sales grew by 181% in Q2/14 to $20.6M."

Suraj Kalia, Northland Capital Partners (7/29/14) "MiMedx Group Inc. reported strong Q2/14 numbers today, with revenues of $25.6M. . .FY/14 guidance was increased again, with revenues at $110115M. . .the company exited Q2/14 with wound care representing 81% of revenues, up 181% over Q2/13. Surgical and sports medicine and other revenues came in at 19% contribution. . .government sales represented 35%, with commercial sales representing 65% of sales. . .the step change in revenues seems to be facilitated by a surge in new sales representatives brought on board (48 in Q1/14). . .management continues to deliver on its aggressive commentary."

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William Plovanic, Canaccord Genuity (7/29/14) "MiMedx Group Inc. remains a top pick after posting strong Q2/14 results. . .it now has coverage in all eight Medicare Administrative Contractors and 40% of the commercial pay market. . .Q2/14 revenues grew 89% YOY to $25.6M and EPS was $0. . .we are maintaining our Buy rating. . .the firm is clearly executing on its plan to leverage its growing distribution channel and capitalize on the new bundled reimbursement scheme. . .the company is a relative newcomer to the dermal substitute segment of advanced wound care, but has quickly become the number two player."

Matt Hewitt, Craig-Hallum Capital (7/29/14) "MiMedx Group Inc.'s competitive advantage paired with a positive reimbursement environment arms the company with the right tools to become the distinct leader in regenerative medicine. . .driven by continued adoption of the company's advanced wound care solutions, the company reported Q2/14 revenues of $25.6M (+89.2% YOY) which enabled a considerable sequential increase in gross margin to 89.3%. . .given the company's significant growth rate, superior management team, wide competitive moat and advantageous reimbursement environment, we are reiterating our Buy rating and $10/share price target."

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