Just when you think MiMedx can’t dive any deeper into the dumpster to find its new executives, they continue to make the skeptics happy with their latest hire. You can’t make this up.
MiMedx touted new hire John Harris from CYTX.
As the CEO of a struggling stem-cell therapy company, Hedrick needs to don brightly colored pom-poms just to grab investors’ attention. Unfortunately, believing the fairy-tale story Hedrick spins to Benzinga requires ignorance of Cytori’s ugly past and an inability or unwillingness to actually conduct any due diligence on the company outside of Hedrick’s assertions.
Cytori has not conducted clinical trials proving its stem cell therapies are effective or safe treatments for any disease. BUT regulatory agencies in certain countries still allow the company to sell its stem-cell processing device. Cytori revenue has declined because there is no proof that its stem-cell therapies help patients.