UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
CURRENT REPORT
 
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 12, 2020
 
SANARA MEDTECH INC.
(Exact name of registrant as specified in its charter)
 
 Texas
000-11808
 59-2219994
 (State or other jurisdiction of incorporation)
 (Commission File Number)
 (I.R.S. Employer Identification No.)
 
 1200 Summit Avenue, Suite 414
Fort Worth, Texas
76102
 (Address of principal executive offices) 
 (zip code)
 
Registrant’s telephone number, including area code: (817)-529-2300
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
☐             
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
☐             
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
☐             
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
☐             
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Securities registered pursuant Section 12(b) of the Act: None
 
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
--
--
--
 
Indicate by check mark whether the registrant is an emerging growth company as defined in in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
 
Emerging growth company ☐
 
If an emerging growth company, indicate by checkmark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
 

 
 
 
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
 
Effective October 12, 2020, the Board of Directors (the “Board”) of Sanara MedTech Inc. (the “Company”) appointed Robert A. DeSutter to the Company’s Board. Mr. DeSutter is a managing director in Piper Sandler healthcare investment banking. He has twenty-seven years of experience in healthcare investment banking at Piper Sandler and served as global group head from 2003 to 2018. Over that period, the group became one of the leading and most respected healthcare investment banking practices. Mr. DeSutter is a graduate of the University of Minnesota and the University of Virginia's Darden Graduate School of Business. The Company believes the addition of Mr. DeSutter to its Board represents an important step in the Company’s growth plans.
 
The Company anticipates that Mr. DeSutter will be appointed to the audit committee. If the Board elects to form a nominating and corporate governance committee, the Company anticipates that Mr. DeSutter would be appointed to that committee.
 
Item 7.01 Regulation FD Disclosure.
 
On October 15, 2020, the Company issued a press release announcing the appointment of Mr. DeSutter to the Board. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.
 
The information in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities under that Section. Further, the information in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be incorporated by reference into the filings of the Company under the Securities Act of 1933, as amended. Item 7.01 of this Current Report on Form 8-K will not be deemed an admission as to the materiality of any information in this Current Report on Form 8-K that is required to be disclosed solely by Regulation FD.
 
Item 9.01 Financial Statements and Exhibits.
 
(d) Exhibits:
 
Exhibit No.
 
Description
 
Press Release issued October 15, 2020 (furnished pursuant to Item 7.01).
 
 
 
 
 
 
SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
Sanara MedTech Inc.
 
 
 
 
 
Date: October 16, 2020
By:  
/s/ Michael D. McNeil  
 
 
 
Name: Michael D. McNeil  
 
 
 
Title: Chief Financial Officer  
 
 
 
 
 
 
 
 
 
 
 
 
  Exhibit 99.1
 
 Sanara MedTech Inc. Announces the Appointment of Bob DeSutter to Its Board of Directors
 
FORT WORTH, TX / ACCESSWIRE / October 15, 2020 / Sanara MedTech Inc. Based in Fort Worth, Texas, Sanara MedTech Inc. ("Sanara" or the "Company") (OTCQB:SMTI), a provider of wound and skin care products and virtual consult services dedicated to improving patient outcomes, announced today that Bob DeSutter has been appointed to the Company's Board of Directors (the "Board"), effective October 12, 2020.
 
Ron Nixon, Sanara's Executive Chairman stated, "Bob is a great addition to our Board. He has a wealth of knowledge and experience in the medtech segment of the healthcare industry, and we believe that he will provide great judgement, insights, and disruptive thinking as we continue to execute on our long-term comprehensive wound and skin care strategy."
 
Bob DeSutter is a managing director in Piper Sandler healthcare investment banking. He has 27 years of healthcare investment banking experience at Piper Sandler and served as global group head from 2003 to 2018. Over that period, the group became one of the leading and most respected healthcare investment banking practices.
 
"I have been following Sanara's product cadence and growth for many years and am honored to join the Board and assist the Company in executing its strategy in the advanced wound and skin care markets," said DeSutter.
 
About Sanara MedTech Inc.
 
With a focus on improving patient outcomes through evidence-based healing solutions, Sanara MedTech Inc. markets and distributes wound and skin care products and services to physicians, hospitals, clinics, and all post-acute care settings. We are constantly seeking long-term strategic partnerships with a focus on products that produce efficacious outcomes at a lower overall cost. Our products are primarily sold in the North American advanced wound care and surgical tissue repair markets. Sanara MedTech markets and distributes CellerateRX® Surgical Activated Collagen® to the surgical markets as well as the following products to the wound care market: BIAKŌS™ Antimicrobial Skin and Wound Cleanser, HYCOL™ Hydrolyzed Collagen, and PULSAR II™ Advanced Wound Irrigation™ (AWI). In addition, Sanara is actively seeking to expand within its six focus areas of wound and skin care for the acute, post-acute, and surgical markets. The focus areas are debridement, biofilm removal, hydrolyzed collagen, advanced biologics, negative pressure wound therapy adjunct products, and the oxygen delivery system segment of the healthcare industry. For more information, visit SanaraMedTech.com.
 
Information about Forward-Looking Statements
 
The statements in this press release that do not constitute historical facts are "forward-looking statements," within the meaning of and subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. These statements may be identified by terms such as "may," "will," "would," "should," "expect," "plan," "anticipate," "could," "intend," "target," "project," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negatives of these terms, variations of these terms or other similar expressions. These forward-looking statements include statements regarding the development of new products and expansion of the Company's business in telehealth and wound care. These items involve risks, contingencies and uncertainties such as product demand, market and customer acceptance, the effect of economic conditions, competition, pricing, the ability to consummate and integrate acquisitions, and other risks, contingencies and uncertainties detailed in the Company's SEC filings, which could cause the Company's actual operating results, performance or business plans or prospects to differ materially from those expressed in, or implied by these statements. All forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to revise any of these statements to reflect the future circumstances or the occurrence of unanticipated events, except as required by applicable securities laws.
 
Investor Contact:
Callon Nichols
Director of Investor Relations
713-826-0524
CNichols@sanaramedtech.com
 
SOURCE: Sanara MedTech Inc.