(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.
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