MiMedx Group Introduces New Branding Initiative and Company Launches New Website
ATLANTA, Feb. 25 /PRNewswire-FirstCall/ -- MiMedx Group, Inc. (OTC Bulletin Board: MDXG.OB) announced today that it has completed its corporate and technology branding initiative. In concert with its branding initiative, the Company also announced that it has recently launched an updated website.
MiMedx Group, Inc. was founded two years ago through a reverse merger, and until recently, the Company has been operating through its two subsidiaries, SpineMedica, LLC and MiMedx, Inc. During 2009, the Company changed its management and sales structure and began to operate as a single, consolidated company under the MiMedx Group name, rather than as two separate organizations. Parker H. "Pete" Petit, MiMedx Chairman and CEO, commented, "Our strategy in 2009 was to capture the efficiency of operating as one company. With that internal strategy successfully implemented last year, in 2010 our strategy is to focus externally and create a single brand identity for our suite of biomaterial products. Our subsidiary structure was appropriate when we were in the development stages of our technologies, but as our commercialization efforts are gaining momentum, we are focusing our message."
Within the MiMedx Group brand, the Company announced the brand names for each of its two core technologies. HydroFix™ is the trademark for the MiMedx Group PVA hydrogel technology and CollaFix™ is the trade name for its collagen fiber technology. Bill Taylor, President and Chief Operating Officer of MiMedx Group, said, "Because we have so many potential applications for both of our core technologies, we felt it was important to leverage the identity of each technology as a platform, rather than branding each individual product. This approach will allow for stronger brand equity and, at the same time, be more cost effective."
The updated MiMedx Group website at www.mimedx.com recently was launched by the Company as one of its many initiatives in the introduction of the Company's new brand identity.
About MiMedx Group, Inc.
MiMedx Group, Inc. is an integrated developer, manufacturer and marketer of patent protected biomaterial-based products and is in the process of transitioning from a development-focused concern to an operating company focused on sales growth and profitability. The Company's assets include intellectual property protecting its CollaFix™ collagen-based technology for augmentation of soft and connective tissue diseases and trauma and intellectual property protecting a novel durable hydrogel technology. The Company has received FDA clearance for its first durable hydrogel product, the HydroFix™ Vaso Shield indicated for use as a cover for vessels following anterior spinal surgery. More information about MiMedx Group can be found at www.mimedx.com.
Important Note regarding forward-looking statements and risk factors. This press release includes statements that look forward in time or that express management's beliefs, expectations or hopes. Such statements are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include the potential applications for the Company's core technologies, the strengthening of the Company's brand equity that will result from the new branding and the cost effectiveness of the new brand identity. These risks and uncertainties including, that the new branding may not yield the desired results, that the Company currently requires additional capital to survive and achieve its goals, which may be difficult or impossible to obtain, that the Company may not receive requisite regulatory clearances and/or approvals to be able to market a full range of products or that such clearances or approvals may be delayed, that the Company may not be able to establish an effective distribution system for its products, and that the Company's products may not gain acceptance in the marketplace or that acceptance may be delayed. The risks and uncertainties also include the risk factors detailed in its Securities and Exchange Commission filings, including, without limitation, its 10-K filing for the fiscal year ended March 31, 2009, and its most recent Form 10-Q filed on November 16, 2009. The Company does not undertake to update its forward-looking statements.
SOURCE MiMedx Group, Inc.