MiMedx (NSDQ:MDXG) said today that it it named Timothy Wright as its new chief exec, effective May 13. Wright will replace David Coles, who has served as the interim CEO since last July, the Marietta, Ga.-based company said. MiMedx said that Wright has more than 30 years of experience in pharma, medtech and biotech. Prior to […]
MiMedx fights court order to hold annual shareholder meeting in June
MiMedx (NSDQ:MDXG) said yesterday that it’s under a court order to hold its 2018 annual shareholder meeting June 17. The Marietta, Ga.-based company said that it plans to appeal the ruling, but is still planning to hold the meeting on that date. “In all events, the company desires to hold the 2018 annual meeting at a […]
Ex-MiMedx CEO Petit mounts proxy war
MiMedx (NSDQ:MDXG) is facing a proxy battle being led by former CEO Parker Petit, who was ousted last July “for cause”, according to a recently posted SEC filing. The ex chief-exec nominated himself alongside former Pulte Home Corp tax director David Furstenburger and George & Lorenson partner Shawn George as candidates for the company’s board of […]
MiMedx escapes Osiris trade theft suit
MiMedx (NSDQ:MDXG) enjoyed a rare spot of good news when a federal judge in Maryland this week dismissed a trade theft and breach-of-contract lawsuit brought by Osiris Therapeutics over MiMedx’s Stability Biologics acquisition. Columbia, Md.-based Osiris said it inked a distribution deal back in 2013 to have Stability sell a pair of its products through the end of 2015. But after […]
MiMedx accounting firm quits
The troubles at MiMedx (NSDQ:MDXG) continued last week with the resignation of the accounting firm tapped to audit its books in the wake of a financial scandal. Marietta, Ga.-based MiMedx last July ousted ex-CEO Parker Petit and president & COO William Taylor amid a board-directed independent investigation that had already prompted the departure of CFO Michael Senken and treasurer John […]
MiMedx to lay off 24% of workforce in restructuring effort
MiMedx (NSDQ:MDXG) said yesterday that it plans to eliminate 24% of its total workforce as part of a larger overall plan to reduce cost and improve efficiency. The Marietta, Ga.-based company said that it plans to eliminate 240 full-time employees, with approximately half of those cuts coming from the salesforce. The plan also includes reducing costs […]
Report: MiMedx held lower-cost grafts from federal hospitals
MiMedx (NSDQ:MDXG), already embroiled in an internal accounting snafu and several federal probes, reportedly held from government hospitals some of the lower-cost products it made available to private hospitals. In limiting its regenerative wound care offering to U.S. Veteran Affairs Dept. and other federal caregivers, Marietta, Ga.-based MiMedx ran up the tab on taxpayers, the Wall […]
Ex-MiMedx brass blast back
Some of the former top brass at MiMedx (NSDQ:MDXG), who were let go over the summer for what the company later determined to be “for cause,” said that their ousters were part of an out-of-control internal investigation. Last week MiMedx, which makes regenerative and therapeutic biologics using human placental tissue allografts, said a probe into its accounting practices […]
MiMedx: Ouster of top brass was for cause
MiMedx (NSDQ:MDXG) said yesterday that the ouster this summer of four top executives was “for cause” after a probe into its accounting practices turned up “conduct detrimental to the business or reputation of the company.” Marietta, Ga.-based MiMedx makes regenerative and therapeutic biologics using human placental tissue allografts. Last July CEO Parker Petit and president & COO […]
MiMedx top brass resign amid internal accounting investigation
MiMedx CEO Parker H. “Pete” Petit and COO and President William C. “Bill” Taylor have resigned as a board-directed independent investigation continues into accounting practices, Marietta, Ga.–based MiMedx (Nasdaq: MDXG) announced today. Petit and Taylor’s exit comes after recent departures of MiMedx’s CFO and corporate controller and treasurer. In addition to the resignations of top brass, the […]
Osiris levels $7m trade theft, breach-of-contract suit against MiMedx over Stability Biologics deal
Osiris Therapeutics leveled trade theft and breach-of-contract charges worth nearly $7 million against a regenerative medicine rival, stemming from the Stability Biologics acquisition by MiMedx (NSDQ:MDXG). Columbia, Md.-based Osiris said it inked a distribution deal back in 2013 to have Stability sell a pair of its products through the end of 2015. But after MiMedx paid $10 million for […]
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