MiMedx Expects Approx. $40 Mln Through Restructuring, Eliminates COO Position
(RTTNews) - MiMedx Group, Inc. (MDXG) Thursday announced elimination of the position of Chief Operating Officer, held by Ricci Whitlow and a series of cost reduction plans to save approximately $40 million. Further, the company now projects one-time restructuring charge of approximately $4 million during the second quarter of 2026.
MiMedx plans to prioritize growth opportunities, streamline operations and significantly reduce operating expenses.
According MiMedx, the surgical business continues to flourish and warrants additional investments, wound care business, along with the broader market, is recovering from the January 1st Medicare reimbursement reduction at a very slow rate.
Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.