Mimedx agreed to buy Sanara Medtech in a cash-and-stock transaction valuing the deal at approximately $350 million as it looks to move beyond its wound-care business. The company’s wound segment has been pressured by CMS reimbursement changes to skin substitutes, driving the strategy shift toward broader surgical offerings. In its filings, Mimedx reported a 61% year-over-year drop in wound-care segment sales and a 35% decline in total revenue in the second quarter. Under the acquisition, Mimedx expects wound care to represent a smaller portion of the combined portfolio while surgical solutions expand. The transaction adds a meaningful consolidation signal in the med-tech space where payer policy and reimbursement structure can rapidly reshape unit economics.