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MiMedx Group Announces Third Quarter 2011 Results
Date:10/26/2011

ns.  AmnioFix® Injectable may have numerous additional uses as well, and at this time, we are conducting additional evaluations to study such applications."

"We initiated numerous clinical studies and evaluations during the quarter on our AmnioFix® and EpiFix® allografts," continued Taylor.  "We are engaged with physician leaders across the country in performing evaluations of these grafts in numerous clinical applications.  These clinical evaluations are designed not only to provide additional clinical data for physicians, but also to support our reimbursement efforts with CMS and health plans.  Based on the data and evidence we have collected so far, it appears that our AmnioFix® and EpiFix® products will have strong clinical results and be quite cost effective in their uses for numerous medical procedures."

Commenting on the current state of the market for new products, Petit said, "As with all new medical products or tissues, we are going through a several-month phase where health plans must be properly educated on the clinical and cost effectiveness of these tissues. While this is a laborious and detailed process that has to be carefully navigated, we are very fortunate that MiMedx executives have successful track records in accomplishing this type of activity numerous times with their previous companies.  We are doing everything possible to expedite and optimize this process."  

MiMedx continues to have ongoing discussions with a number of other industry organizations related to a private label or OEM relationship.  "We have engaged in numerous discussions related to our amniotic membrane allografts and collagen fiber. During the quarter, we signed an OEM agreement for amniotic tissue with a company that manufactures spinal device implants. At present, we are having discussions with several companies, some of which are in the United States and others with international presence.
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SOURCE MiMedx Group, Inc.
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