Sanara MedTech Inc. Announces Exclusive Partnership with Pixalere Healthcare Inc. to Advance Global Wound and Skin Care Strategy
FORT WORTH, TX / ACCESSWIRE / June 4, 2021 / Sanara MedTech Inc.
Based in Fort Worth, Texas, Sanara MedTech Inc. (“Sanara”, the “Company”, “we”, “our” or “our”) (NASDAQ: SMTI), a supplier of surgical and chronic wound care products dedicated to improving patient outcomes, today announced an exclusive partnership with Pixalere Healthcare Inc. (“Pixalere”).
Ron Nixon, Executive Chairman of Sanara, said, “Our goal at Sanara MedTech is to provide comprehensive wound and skin care solutions in all care settings. Our partnership with Pixalere is essential to achieving this goal by combining Pixalere’s technology, including decision support, documentation, and wound tracking analysis, with complementary Sanara solutions that provide virtual access to expert wound and skin physicians / clinicians, advanced diagnostics and wound care product order fulfillment. “
Overview of investments and partnerships
Sanara purchased Class A preferred shares of Pixalere convertible into 27.3% of the outstanding shares of Pixalere. Sanara will report its investment in Pixalere using the equity method. Sanara’s 27.3% share of Pixalere operations will be included in Sanara’s income statement as other income (or expense).
Concurrent with this investment, Sanara created Pixalere Healthcare USA, LLC (“Pixalere USA”) as a subsidiary of Sanara. Pixalere has granted Pixalere USA an exclusive royalty-free license to use the Pixalere software and platform in the United States. In exchange for the exclusive license, Pixalere USA issued a 27.3% stake in the capital of Pixalere.
Presentation of Pixalère
Pixalere is a cloud-based wound care software tool that empowers nurses, specialists and administrators to provide better bedside care. Currently, Pixalere serves and supports over 8,000 daily clinical users as they treat over 40,000 wound patients each year in Canada and other non-US markets. Pixalere currently offers the following solutions to its customers:
These capabilities are currently integrated with Sanara’s WounDerm platform to better serve the US wound care market.
Pixalere / WounDerm integration
Sanara’s partnership with Pixalere advances the company’s overall wound and skin care strategy by integrating key solutions that were developed by WounDerm with current Pixalere capabilities. This should allow Sanara’s technology to be paired with a proven, scalable model that provides bedside caregivers who are not specialized in wound care with more information and guidance than the current standard of care.
WounDerm features currently built into Pixalere include:
The WounDerm mobile app
Wound Care Plan Algorithms
Efficient revenue cycle workflows
Development of automated and modifiable progress notes
Wound assessment forms that interface with corresponding wound assessment data in electronic health record systems and provider practice management systems.
The partnership will use Pixalere’s experienced IT team to support any maintenance and customization requests that Pixalere USA will require.
Sanara and Pixalere plan to explore the use of the Precision Healing smart tablet and imager, Sanara’s proprietary product portfolio, and Sanara’s telehealth services in Pixalere’s current non-U.S. Markets including Canada, ‘South Africa, Australia and New Zealand.
About Sanara MedTech Inc.
With a focus on improving patient outcomes through evidence-based healing solutions, Sanara MedTech Inc. markets and distributes wound and skin care products to physicians, hospitals, clinics and to all post-acute care settings and seeks to offer wound care and virtual consultation in dermatology services via telemedicine. Sanara’s products are primarily sold in the North American advanced wound care and surgical tissue repair markets. Sanara MedTech markets and distributes CellerateRX® Surgically Activated Collagen® in the surgical markets as well as the following products in the wound care market: BIAKŌS ™ Antimicrobial Skin and Wound Cleanser, BIAKŌS ™ Antimicrobial Wound Gel, BIAKŌS ™ Antimicrobial Skin and Wound Irrigation Solution and HYCOL ™ Hydrolyzed Collagen. Sanara is constantly on the lookout for long-term strategic partnerships with a focus on products that improve results at a lower overall cost. In addition, Sanara is actively seeking to expand in its six focus areas of wound and skin care for the acute, post-acute and surgical markets. Focus areas are Debridement, Biofilm Removal, Hydrolyzed Collagen, Advanced Biologics, Adjuncts for Negative Pressure Wound Treatment and Oxygen Delivery Systems segment of the health industry. For more information visit SanaraMedTech.com.
Information on forward-looking statements
Statements in this press release that are not historical facts are “forward-looking statements”, within the meaning and subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. These statements may be identified by terms such as “anticipate”, “believe”, “contemplate”, “pursue” “could”, “estimate”, “‘,”, “plan”, “seek”, “should”, “target”, “will” or “would”, or the negatives of these terms, variations of these terms or other similar expressions. These forward-looking statements include statements regarding the strategic partnership with Pixalere and the integration of Pixalere’s technology into Sanara’s product and service offerings, the extension of the strategic partnership with Pixalere to non-US markets, the development of new products. and the expansion of the Company’s activities as a telehealth and wound care business. These elements involve risks, contingencies and uncertainties such as the extent of demand for products, market and customer acceptance, the effect of economic conditions, competition, pricing, the ability to realize and d ” incorporate acquisitions, and other risks, contingencies and uncertainties detailed in filings with the SEC, which could cause actual operating results, performance or business plans or prospects of the Company differ materially from those expressed or implied by such statements.
All forward-looking statements speak only as of the date on which they are made, and the Company does not undertake to revise these statements to reflect future circumstances or the occurrence of unforeseen events, except as required by applicable laws. applicable securities.
Callon Nichols, Director of Investor Relations
SOURCE: Sanara MedTech Inc.
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