MiMedx Eliminates COO Role Amid Cost-Savings Push

By Connor Hart

MiMedx Group is cutting its chief operating officer position, part of a series of cost-saving actions that aim to reduce annual operating costs by about $40 million.

The company said Thursday that it is taking steps to prioritize growth opportunities, streamline operations and significantly reduce operating expenses. It expects a one-time restructuring charge of about $4 million stemming from the actions, set to hit in the second quarter.

As part of these changes, MiMedx's COO role, held by Ricci Whitlow, has been eliminated.

MiMedx has spent the past few months conducting a review of its business and corporate structure, Chief Executive Joseph Capper said.

"While our surgical business continues to flourish and warrants additional investments, our Wound Care business, along with the broader market, is recovering from the Jan. 1 Medicare reimbursement reduction at a very slow rate," he said. "We must now make the requisite adjustments to our cost structure to ensure the future profitability of the business."

MiMedx said it will provide additional commentary around the impact of the reorganization during its first-quarter conference call later this month.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

April 16, 2026 08:48 ET (12:48 GMT)