MARIETTA, Ga., Sept. 18, 2014 /PRNewswire/ -- MiMedx Group, Inc. (NASDAQ: MDXG), an integrated developer, processor and marketer of patent protected regenerative biomaterials and bioimplants processed from human amniotic membrane, announced today that it has entered into a distribution agreement with Zimmer, Inc. Through the agreement, MiMedx will provide its dehydrated human amnion/chorion membrane ("dHACM") allograft products to Zimmer to be marketed non- exclusively on a private label basis.
The MiMedx dHACM allografts, processed utilizing the Company's proprietary PURION® process, will be provided to Zimmer for marketing under Zimmer's private-label. Through-out the United States, Zimmer will market and sell the private-labeled allografts to Zimmer customers and end-users. The distribution agreement encompasses a range of musculoskeletal applications to include reconstructive, sports medicine, trauma, extremities and spinal applications.
Parker H. Petit, MiMedx Chairman and CEO, said, "We are very pleased about the opportunity to partner with Zimmer. This agreement will facilitate a sizable expansion of the physicians and patients that will now have access to our dHACM allografts. The breadth of the applications included in the agreement and the large base of physicians, hospitals and other medical facilities served by Zimmer will enhance the presence of our allografts in the musculoskeletal sector of the market."
"Zimmer has a stellar reputation and is a recognized leader in bringing new technologies and applications to the forefront to serve the reconstructive, sports medicine, trauma, extremities and spinal markets," said Bill Taylor, MiMedx President and COO. "Our goal is to reach as many patients as possible that will benefit from the regenerative properties of our allografts. Our relationship with Zimmer will allow us to further the realization of that goal."
Founded in 1927 and headquartered in Warsaw, Indiana, Zimmer designs, develops, manufactures and markets orthopaedic reconstructive, spinal and trauma devices, dental implants, and related surgical products. Zimmer has operations in more than 25 countries around the world and sells products in more than 100 countries. Zimmer's 2013 sales were approximately $4.6 billion. Zimmer is supported by the efforts of more than 9,000 employees worldwide.
MiMedx® is an integrated developer, processor and marketer of patent protected regenerative biomaterial products and bioimplants processed from human amniotic membrane. "Innovations in Regenerative Biomaterials" is the framework behind our mission to give physicians products and tissues to help the body heal itself. Our biomaterial platform technologies include AmnioFix® and EpiFix®, our tissue technologies processed from human amniotic membrane that is derived from donated placentas. Through our donor program, mothers delivering full-term Caesarean section births can elect in advance of delivery to donate the placenta in lieu of having it discarded as medical waste. We process the human amniotic membrane utilizing our proprietary PURION® Process, to produce a safe and effective implant. MiMedx® is the leading supplier of amniotic tissue, having supplied over 275,000 allografts to date for application in the Wound Care, Surgical, Sports Medicine, Ophthalmic and Dental sectors of healthcare.
Safe Harbor Statement
This press release includes statements that look forward in time or that express management's beliefs, expectations or hopes. Such statements are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to the agreement facilitating a sizable expansion of the physicians and patients that have access to the Company's dHACM allografts, the effect of the breadth of the applications included in the agreement and the large base of physicians, hospitals and other medical facilities served by Zimmer on the presence of the Company's allografts in the musculoskeletal sector of the market, and the extent to which the MiMedx relationship with Zimmer will allow the Company to further the realization of its goal to reach as many patients as possible. These statements are based on current information and belief, and are not guarantees of future performance. Among the risks and uncertainties that could cause actual results to differ materially from those indicated by such forward-looking statements include that the agreement may not facilitate a sizable expansion of the physicians and patients that have access to the Company's dHACM allografts, that the breadth of the applications included in the agreement and the large base of physicians, hospitals and other medical facilities served by Zimmer will not enhance the presence of the Company's allografts in the musculoskeletal sector of the market, that the MiMedx relationship with Zimmer will fail to further the realization of the Company's goal to reach as many patients as possible, and the risk factors detailed from time to time in the Company's periodic Securities and Exchange Commission filings, including, without limitation, its 10-K filing for the fiscal year ended December 31, 2013. By making these forward-looking statements, the Company does not undertake to update them in any manner except as may be required by the Company's disclosure obligations in filings it makes with the Securities and Exchange Commission under the federal securities laws.