Latest news with #Organogenesis
Yahoo
16-07-2025
- Business
- Yahoo
Northland sees ‘key positive' for MiMedx in CMS rule proposal
Northland analyst Carl Byrnes says the CMS is taking action to curb skin substitute spending with its 2026 physician fee schedule proposed rule released last night. The rule would eliminate separate selling prices and 6% reimbursement in physician offices and replace it with a single capped payment rate, the analyst tells investors in a research note. Northland expects the hospital outpatient prospective payment system proposal to post imminently and follow a similar structure. It sees this as a 'key positive' for MiMedx (MDXG). The new framework supports reimbursement stability for the company and preserves access to clinically justified products, contends the firm. It keeps a Buy rating on MiMedx with a $12 price target The stock in premarket trading is down 11% to $6.05. Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See Insiders' Hot Stocks on TipRanks >> Read More on MDXG: Disclaimer & DisclosureReport an Issue Organogenesis selloff on CMS proposal 'may be incorrect,' says BTIG Organogenesis, MiMedx fall after CMS rule to cut skin substitutes spending MiMedx management to meet with Northland MiMedx Group Holds Annual Shareholder Meeting MiMedx pullback presents 'compelling entry point,' says Northland Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Business Insider
15-07-2025
- Health
- Business Insider
Organogenesis, MiMedx fall after CMS rule to cut skin substitutes spending
The Centers for Medicare and Medicaid Services announced a proposed rule 'that would increase quality care for Medicare recipients while significantly reducing unnecessary spending.' The 2026 Medicare physician fee Schedule proposed rule 'would advance primary care management through new quality measures, reduce waste and unnecessary use of skin substitutes, and introduce a new payment model focused on improving care for chronic disease management,' the agency said in a statement. 'CMS is proposing to improve the care of chronic diseases by reducing burdens associated with the integration of behavioral health treatment into advanced primary care management,' it added. CMS noted that Medicare spending on skin substitutes 'has had unprecedented growth,' rising from $256M in 2019 to over $10B in 2024, according to Medicare Part B claims data. 'CMS currently treats skin substitutes as biologicals for the purposes of Medicare payment, which can reach as high as $2,000 per square inch. CMS is proposing to pay for skin substitutes as incident-to supplies, a change expected to reduce spending on these products by nearly 90%.' Shares trading lower following the CMS proposed rule include Organogenesis (ORGO) and MiMedx (MDXG). Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with , delivered to your inbox every week.
Yahoo
20-05-2025
- Business
- Yahoo
New $100M biotech facility to boost RI life sciences sector
SMITHFIELD, R.I. (WPRI) — A Massachusetts-based wound care and sports medicine company announced plans for its brand-new biomanufacturing facility Tuesday in Smithfield. Regenerative medicine company Organogenesis is investing roughly $100 million to build the facility off Technology Way, with plans to add more than 200 full-time jobs. The 122,000 square-foot site will house manufacturing, laboratory, warehouse, and distribution operations to support the company's 'advanced wound care' products, including future expansions. It will also be equipped to resume production of Dermagraft®, an FDA-approved product used to treat diabetic foot ulcers, according to Organogenesis. CEO and Board Chair Gary S. Gillheeney Sr. called the project a vital aspect of the company's commitment to growing its presence in New England. He said their vision for the facility is to 'be a catalyst' for the life sciences industry in Rhode Island and to foster 'continued regional cooperation in biotechnology.' 'This state-of-the-art facility will allow us to remain on the leading edge of advancements in regenerative medicine with added capacity to expand upon our multiple technology platforms and bring new innovations to patients, enabling our growth plans for many years to come,' Gillheeney said. Mark Turco, president and CEO of the Rhode Island Life Science Hub, expects the multi-year investment in Smithfield to create high-quality jobs and help solidify the state's reputation as a leader in life sciences. READ ALSO: New life science startup incubator comes to downtown Providence Download the and apps to get breaking news and weather alerts. Watch or with the new . Follow us on social media: Close Thanks for signing up! Watch for us in your inbox. Subscribe Now Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
