Medicare contractor CGS approved EpiFix for both diabetic foot ulcers and venous leg ulcers that fail to respond to standard treatments. With the added coverage, 86% of Medicare beneficiaries are now eligible for coverage for EpiFix products, MiMedx said.
"We have been persistent in executing our strategy to gain MAC coverage throughout the country," chairman & CEO Parker Petit said in prepared remarks. "With the additional coverage by CGS encompassing the states of Kentucky and Ohio, we have further expanded the opportunity for Medicare beneficiaries suffering from chronic wounds to have access to our clinically and cost effective allografts."
In addition, the Marietta, Ga.-based MiMedx said it will put 5 million shares up for sale. The company has set a price point of $6.80 for the shares and expects to bring in up to $31.6 million, after including deductions like the underwriting discounts, commissions, and the estimated offering expenses, according to a regulatory filing.