FTC Second Requests Extend Review of Sanara-MiMedx Merger

Sanara MedTech Inc. and MiMedx Group Inc. each received a Federal Trade Commission (FTC) Second Request on Oct. 15, placing their proposed merger under extended federal review.

The requests seek additional information and documents. Under the Hart-Scott-Rodino Act, the deal must wait until 30 days after both companies substantially comply. The FTC can end the waiting period sooner, or the companies can voluntarily extend it.

The requests arrived on the date the previous waiting period was scheduled to expire. That earlier deadline was 11:59 p.m. ET Oct. 15 (03:59 UTC Oct. 16). The companies filed initial notices Aug. 12. MiMedx withdrew its notice Sept. 11 and resubmitted it Sept. 15.

Sanara shareholders approved the merger Sept. 30, with 6,372,989 votes in favor, 1,944 against and 36,494 abstentions. Under the agreement, each Sanara share will be exchanged for $33 in cash and 0.4735 MiMedx shares.

The companies valued the consideration at $35 per Sanara share and the transaction at about $350 million in enterprise value when they announced the deal in July. They set a year-end 2026 closing target, subject to regulatory approval and other conditions.

Sanara said, “The Company continues to work constructively with the FTC in its review of the Merger.” Closing still depends on the end of the HSR waiting period and satisfaction of the agreement’s remaining conditions.