Filing Flows › Sanara MedTech (SMTI) › Takeover & LBO
Is Sanara MedTech (SMTI) a takeover target?
A leveraged buyout at today's price plus 30% ($45.59 a share) would return about 2% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $21.96 a share (−37% against today's $35.07). Historically 6.1% of companies with its figures were bought within a year (1.21× the average). Latest signal (2026-09-04): Agreed sale to MiMedx at $33.0 cash a share · pending.
The buyout, step by step
| Entry | Amount | How |
|---|---|---|
| Offer price a share | $45.59 | today's $35.07 plus 30% |
| × shares | 8.7 million | |
| = Equity value | $395M | |
| + Debt refinanced | $46.5M | |
| − Cash | $15.4M | |
| = Enterprise value | $426M | 37.6× EBITDA of $11.3M |
| Fees | $8.5M | 2% of the price |
| New debt | $62.3M | 5.5× EBITDA at 7.65% a year; the limit that binds: 5.5× EBITDA |
| Buyer's own money | $372M | 86% of the cost |
5 years under the buyer
| Year | Revenue | EBITDA | Interest | Free cash flow | Debt left |
|---|---|---|---|---|---|
| Year 1 | $119M | $12.2M | $4.8M | $4.4M | $57.9M |
| Year 2 | $127M | $13.1M | $4.4M | $5.4M | $52.6M |
| Year 3 | $134M | $13.8M | $4.0M | $6.3M | $46.3M |
| Year 4 | $139M | $14.4M | $3.5M | $7.3M | $39.0M |
| Year 5 | $143M | $14.8M | $3.0M | $8.2M | $30.9M |
The exit and the buyer's return
| Exit | Amount | |
|---|---|---|
| Exit multiple | 29.5× EBITDA | today's trading multiple, before any premium |
| Enterprise value at exit | $437M | |
| − Debt left | $30.9M | |
| = Buyer's equity | $406M | |
| Money multiple | 1.09× | on $372M put in |
| Buyer's yearly return (IRR) | 1.8% |
Price against return
What the buyer makes at other premiums over today's $35.07; the IRR reaches 20% at $21.96 a share.
| Premium | Price a share | Buyer's IRR |
|---|---|---|
| 10% | $38.58 | 5.6% |
| 20% | $42.08 | 3.6% |
| 30% | $45.59 | 1.8% |
| 40% | $49.10 | 0.2% |
| 50% | $52.61 | −1.3% |
The figures used
| Figure | Amount | |
|---|---|---|
| Revenue, last 12 months | $110M | |
| EBITDA, last 12 months | $11.3M | 10.3% of revenue |
| Depreciation and amortization | $2.9M | |
| Capital spending | $1.2M | |
| Debt | $46.5M | |
| Cash | $15.4M | |
| Share price | $35.07 | on Oct 9, 2026 |
Fixed rules, the same as the interactive view's starting point: the shares are bought at today's price plus 30%, the company's debt is refinanced and fees take 2%. New debt is the least of 5.5× EBITDA, 65% of the price and the amount whose interest EBITDA covers 2 times, at 7.65% a year (SOFR 3.89% plus the high-yield B spread 3.26% plus 0.5%, rates of Oct 15, 2026). Revenue grows 8.0% in the first year — the company's own rate, held between −3% and +8% — fading to 3% by year 5; the EBITDA margin, depreciation and capital spending stay at today's share of revenue; working capital takes 10% of each year's added revenue; tax is 21% of profit after interest. Every dollar of free cash flow repays debt. After 5 years the buyer sells at today's multiple of EBITDA.
What a takeover could cost
Takeovers in its sector paid a median premium of 35% over the share price before the deal (the middle half 22% to 45%), according to the 15 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, Sanara MedTech would cost about $47.34 a share, $410M for all its shares.
| Premium | % | Price a share | All shares |
|---|---|---|---|
| Low end (a quarter of deals paid less) | 22% | $42.79 | $371M |
| Median | 35% | $47.34 | $410M |
| High end (a quarter paid more) | 45% | $50.85 | $441M |
The odds, from history
Historically 6.1% of companies with its figures were bought within a year (1.21× the average). Its figures put it in decile 8 of 10 (10 = the most likely to be bought). The odds come from a model of every merger proxy, tender-offer response and going-private statement filed on EDGAR since 2011, set against each company's size, margins, debt, cash flow and growth the year before.
Rumors and deal signals
- 2026-09-04 · deal · Agreed sale to MiMedx at $33.0 cash a share · pending
- 2026-09-04 · DEFM14A · Merger proxy (DEFM14A)
Sanara MedTech's latest quarter
Sanara MedTech, Q2 2026: revenue $28.1M (+9% year over year), operating margin 6.3%, net loss $453K, operating cash flow $2.0M. The chart follows the revenue to costs, profit and cash.
Questions
Is Sanara MedTech being acquired?
The latest signal on file is from 2026-09-04: Agreed sale to MiMedx at $33.0 cash a share · pending. A headline is not a deal; Filing Flows lists the news, 8-K filings and 13D filings about a sale.
Could private equity buy Sanara MedTech?
A leveraged buyout at today's price plus 30% ($45.59 a share) would return about 2% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $21.96 a share (−37% against today's $35.07).
What would a takeover of Sanara MedTech cost?
Takeovers in its sector paid a median premium of 35% over the share price before the deal (the middle half 22% to 45%), according to the 15 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, Sanara MedTech would cost about $47.34 a share, $410M for all its shares.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.