Embattled biotech company MiMedx has agreed to pay $1.5 million to settle federal charges that it and three former top executives allegedly defrauded investors, the Securities and Exchange Commission said today. The SEC alleges that from 2013 to 2017, Marietta, Ga.-based MiMedx and those executives misstated the company’s revenue and attempted to cover up their […]
Innoblative taps ex-Lumicell chief Londy for CEO | Personnel Moves, Sept. 13, 2019
Innoblative Designs last week named former Lumicell chief executive Kelly Londy as its new CEO. Apart from her two-year stint at the Lumicell helm, Londy was COO at Accuray (NSDQ:ARAY) and worked at GE Healthcare and Philips Healthcare. “Innoblative’s Sira RF ablation device offers unique capabilities that address shortcomings in the current advanced energy surgical market,” […]
Biomet vet Serbousek to succeed Mason as Orthofix CEO | Personnel Moves, August 13, 2019
Orthofix (NSDQ:OFIX) last week named a successor for president & CEO Brad Mason in November, tapping Jon Serbousek as president of its spine business effective August 5. Mason is slated to retire Oct. 31; Serbousek, a 30-year medtech veteran with stints at Biomet, Medtronic (NYSE:MDT) and Johnson & Johnson (NYSE:JNJ) unit DePuy Orthopaedics, is due to […]
MiMedx claims win in proxy war with ex-CEO
MiMedx (NSDQ:MDXG) today claimed an early win in its proxy war with the CEO it fired for cause last year, saying that shareholders elected its slate of directors to the board, including new chief executive Timothy Wright. Marietta, Ga.-based MiMedx makes regenerative and therapeutic biologics using human placental tissue allografts. The ouster last year of then-CEO […]
MiMedx continues fight against proxy challenge from ex-CEO Petit
MiMedx (NSDQ:MDXG) today urged its shareholders to vote for its nominees as it faces a proxy challenge from former CEO Parker Petit, who was ousted last July “for cause.” The Marietta, Ga.-based company is under a court order to hold its annual shareholder meeting on June 17, but said in April that it plans to appeal the ruling. […]
MiMedx inks board reorganization plan with major shareholder
MiMedx (NSDQ:MDXG) said today that its board of directors adopted a new “comprehensive plan” to refresh its board composition in cooperation with major shareholder Prescience Point Capital Management. CEO Timothy Wright, who moved into the corner office earlier this month, will be added to the board, the Marietta, Ga.-based company said. In addition, class II and […]
MiMedx: Ex-managers cooked the books, went after whistleblowers
The former management team at MiMedx (NSDQ:MDXG), led by ex-CEO Parker Petit, allegedly enacted a scheme to cook the books at the regenerative medicine company, retaliated against anyone who questioned their sketchy accounting practices and secretly filmed their offices, according to a probe the company launched after the scheme blew up last year. In February 2018, […]
MiMedx names Wright as CEO | Personnel Moves – May 9, 2019
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 […]
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