MiMedx Group, Inc. (NASDAQ: MDXG) (“MIMEDX” or the “Company”) today
announced that leading proxy advisory firm Glass Lewis & Co
(“Glass Lewis”) has recommended that shareholders vote
“FOR
ALL” of the Company’s proposals including “FOR” both of
MIMEDX’s director nominees James L. Bierman and Phyllis Gardner,
M.D. – on the WHITE proxy card at its 2022 Annual Meeting of
Shareholders scheduled for Tuesday, June 7, 2022 at 9:00 a.m.
Eastern Time, which will be held in virtual format at
www.cesonlineservices.com/mdxg22_vm.
Commenting on Glass Lewis’ recommendation,
MIMEDX issued the following statementi:
We are pleased that Glass Lewis has recommended
shareholders vote “FOR” our stated proposals, particularly the
election of MIMEDX’s highly qualified director nominees – James L.
Bierman and Phyllis Gardner, M.D.
Glass Lewis also recommended, in its report,
that shareholders vote “FOR” the Company’s say-on-pay proposal,
recognizing “the Company's active engagement efforts and positive
program changes” in response to last year’s say-on-pay vote. Glass
Lewis concluded that “in light of these considerations, as well as
the adequate alignment between pay and performance, we believe that
shareholders may reasonably support this proposal.” Glass Lewis
goes on to acknowledge that MIMEDX’s executive compensation,
including that of our Chief Executive Officer, is in line with the
median compensation for a group of its peers.
Furthermore, in its report, Glass Lewis
expressed a general support for the employee stock purchase
programs as it “believe[s] they align the interests of employees
and shareholders and encourage a sense of ownership at
companies.”
MIMEDX has the right Board and strategy to
further enhance value for all shareholders and continues to
implement programs and initiatives that align with shareholder
interests. MIMEDX is a stronger company today and has taken
decisive action to successfully sustain, stabilize and grow the
Company over the last three years, and is poised for long-term
success. The fundamentals of our growth strategy are driving strong
performance, and the Company recently announced its third
consecutive quarter of double-digit growth in its Advanced Wound
Care & Surgical Recovery products, demonstrating strong
execution. We have taken shareholder input into account every step
of the way and maintain an open dialogue with our shareholders in
pursuit of our strategic long-term objectives.
We strongly urge shareholders to follow Glass
Lewis’ recommendation to vote “FOR” all of the Company’s proposals
on the WHITE proxy card today.
MIMEDX reminds shareholders that every vote is
important, no matter how many or few shares it represents.
MIMEDX shareholders who need assistance in
voting their shares may contact MIMEDX’s proxy solicitor MORROW
SODALI by email at MDXG@investor.Morrowsodali.com or by phone at
(203) 658-9400 or (800) 662-5200 (Toll-Free).
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Your Vote Is Important, No Matter How Many or How Few
Shares You Own |
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You can vote by Internet, telephone or by signing and dating
the WHITE proxy card and mailing it in
the envelope provided. |
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If you have any questions about how to vote your shares, or need
additional assistance, please contact: |
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MORROW |
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SODALI |
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MDXG@investor.Morrowsodali.com |
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(203) 658-9400 |
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or |
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Toll-Free (800) 662-5200 |
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About MIMEDX
MIMEDX is a transformational placental biologics
company, developing and distributing placental tissue allografts
with patent-protected, proprietary processes for multiple sectors
of healthcare. As a pioneer in placental tissue engineering, we
have both a commercial business, focused on addressing the needs of
patients with acute and chronic non-healing wounds, and a promising
late-stage pipeline targeted at decreasing pain and improving
function for patients with degenerative musculoskeletal conditions.
We derive our products from human placental tissues and process
these tissues using our proprietary methods, including the
PURION® process. We employ Current Good Tissue Practices,
Current Good Manufacturing Practices, and terminal sterilization to
produce our allografts. MIMEDX has supplied over two million
allografts, through both direct and consignment shipments. For
additional information, please visit www.mimedx.com.
Important Cautionary Statement
This press release includes forward-looking
statements. Statements regarding: (i) our belief that the long term
strategy we have chosen is in the best interests of our
shareholders; (ii) our belief that as we continue to execute
against our stated objectives and navigate our next phase of
growth, we are well positioned for the future; and (iii) our belief
that the experience, expertise and commitment of the MIMEDX
leadership team, as overseen by our Board of Directors, will help
position the Company for further future success and value creation.
Additional forward-looking statements may be identified by words
such as "believe," "expect," "may," "plan," “goal,” “outlook,”
"potential," "will," "preliminary," and similar expressions, and
are based on management's current beliefs and expectations.
Forward-looking statements are subject to risks
and uncertainties, and the Company cautions investors against
placing undue reliance on such statements. Actual results may
differ materially from those set forth in the forward-looking
statements. Factors that could cause actual results to differ from
expectations include: (i) future sales are uncertain and are
affected by competition, access to customers, patient access to
healthcare providers, and many other factors; (ii) the status,
timing, results and expected results of the Company’s clinical
trials, planned regulatory submissions and regulatory approvals,
and our expectations regarding our ability to potentially
accelerate the timing of any trial or regulatory submission, depend
on a number of factors including favorable trial results, patient
access, and our ability to manufacture in accordance with Current
Good Manufacturing Practices (CGMP) and appropriate chemistry and
manufacturing controls; (iii) the Company may change its plans due
to unforeseen circumstances, or delays in analyzing and auditing
results, and may delay or alter the timeline for future trials,
analyses, or public announcements; (iv) our access to hospitals and
health care provider facilities could be restricted as a result of
the ongoing COVID-19 pandemic or other factors; (v) the results of
scientific research are uncertain and may have little or no value;
(vi) our ability to sell our products in other countries depends on
a number of factors including adequate levels of reimbursement,
regulatory approvals, market acceptance of novel therapies, and our
ability to build and manage a direct sales force or third party
distribution relationship; (vii) the effectiveness of amniotic
tissue as a therapy for particular indications or conditions is the
subject of further scientific and clinical studies; and (viii) we
may alter the timing and amount of planned expenditures for
research and development based on the results of clinical trials
and other regulatory developments. The Company describes additional
risks and uncertainties in the Risk Factors section of its most
recent annual report and quarterly reports filed with the
Securities and Exchange Commission. Any forward-looking statements
speak only as of the date of this press release and the Company
assumes no obligation to update any forward-looking statement.
Important Additional
Information
The Company, its directors, director nominees
and certain of its executive officers are participants in the
solicitation of proxies from the Company’s shareholders in
connection with the 2022 annual meeting of shareholders (the “2022
Annual Meeting”). The Company has filed a definitive proxy
statement and a WHITE proxy card with the
Securities and Exchange Commission (the “SEC”) in connection with
any such solicitation of proxies from the Company’s shareholders.
SHAREHOLDERS OF THE COMPANY ARE STRONGLY ENCOURAGED TO READ THE
PROXY STATEMENT, ACCOMPANYING WHITE PROXY CARD AND
ALL OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR
ENTIRETY AS THEY CONTAIN IMPORTANT INFORMATION. The Company’s
definitive proxy statement for the 2022 Annual Meeting contains
information regarding the direct and indirect interests, by
security holdings or otherwise, of the Company’s directors,
director nominees and executive officers in the matters to be acted
upon at the 2022 Annual Meeting. Information regarding subsequent
changes to their holdings of the Company’s securities can be found
in the SEC filings on Forms 3, 4 and 5, which are available on the
Company’s website at www.mimedx.com or through the SEC’s website at
www.sec.gov. Information can also be found in the Company’s other
SEC filings, including its Annual Report on Form 10-K for the year
ended December 31, 2021. Shareholders are able to obtain the
definitive proxy statement, any amendments or supplements to the
proxy statement and other documents filed by the Company with the
SEC at no charge at the SEC’s website at www.sec.gov. Copies are
also available at no charge on the Company’s website at
www.mimedx.com.
Contacts
Investors:Jack HowarthInvestor
Relations404-360-5681jhowarth@mimedx.com
Media:Hilary DixonCorporate
& Strategic Communications404-323-4779hdixon@mimedx.com
i Permission to use quotes from Glass Lewis’ report within this
statement neither sought nor obtained
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