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MiMedx Group Announces Second Quarter 2011 Results
Date:7/25/2011

urns will be one of the most unique opportunities that will truly improve the quality as well as cost effectiveness of countless procedures in these crucial areas of healthcare."

Commenting on some of the Company's other new initiatives, Petit said, "We currently have new development activities in GYN and plastic surgery procedures underway and our development partners continue to pursue new opportunities in the ophthalmic area and the dental market.  In summary, we could not be more excited about the opportunities we have as a result of our amniotic membrane tissue technology.  The founders of Surgical Biologics have done a great service to medicine by breaking the code of providing a commercially viable amniotic membrane tissue."

"Looking to the third and fourth quarters, we expect to see continued rapid revenue growth from AmnioFix™ and EpiFix®.  Our introduction of EpiFix® into the wound care area is still in its infancy stage. As we continue the roll-out of this exciting offering, we expect robust quarter over quarter increases in our wound care revenue.  In addition, we expect to have some Original Equipment Manufacturers ("OEM") business that will come online in the third quarter. We are pleased with our progress in these strategic initiatives, and we are excited to have partnerships of this nature begin to develop. Most importantly, we expect to reach Adjusted EBITDA* breakeven during the third quarter," added Petit.

Mike Senken, Chief Financial Officer, stated, "Our balance sheet continues to improve with current assets totaling $3,623,000, as compared to current liabilities of $1,714,000 when you subtract the Short term earn-out liability, which is a "non-cash" payment of MiMedx stock due in Q2 of next year related to the acquisition of Surgical Biologics."

Bill Taylor, President and Chief Operating Officer, stated, "We are making progress relative to regulatory approval on our CollaFix͐
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SOURCE MiMedx, Inc.
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