MIMEDX to Cut $40M in Annual Expenses, Eliminates COO Role

MiMedx Group announced a restructuring plan to reduce annual operating expenses by approximately $40 million, driven by a slow recovery in its Wound Care business following Medicare reimbursement reductions. The company will prioritize investments in its flourishing Surgical business. As part of these changes, the Chief Operating Officer position, held by Ricci Whitlow, has been eliminated, and a one-time restructuring charge of about $4 million is expected in Q2 2026.