MiMedx Group, Inc., the leading regenerative medicine company utilizing human amniotic tissue and patent-protected processes to develop and market advanced products and therapies for the Wound Care, Surgical, Orthopedic, Spine, Sports Medicine, Ophthalmic, and Dental sectors of healthcare, announced the decision of its Board of Directors to authorize an increase in the Company's Share Repurchase Program.

This action by the MiMedx Board of Directors authorizes an increase of $10 million to the Company's Share Repurchase Program. This action brings the total authorized to $76 million since the Share Repurchase Program commenced in May 2014. The Company reported that in light of the prevailing market conditions, the Company's available resources and other factors, the MiMedx Board of Directors believes the stock repurchases are a favorable investment for the Company.  The Board agreed to review this program again at its scheduled meeting on February 22^nd, and to consider a substantial additional commitment to this beneficial program.

Parker H. "Pete" Petit, Chairman and CEO, stated, "Since the Share Repurchase Program commenced, our program has acquired approximately $65 million of our shares, which has proven to be very anti-dilutive.  When we acquire shares at these very low prices, our high growth profile in both revenues and now profits produces an extremely anti-dilutive result.  It is my personal belief that the Company's stock price is very undervalued at present.  Many investment bankers have told us they have this same opinion. Therefore, I would expect we will continue to take advantage of these current low prices to enhance shareholder value as permitted."

Petit continued, "MiMedx management is just as frustrated with the volatility of our shares as are our shareholders.  We know there are ongoing issues associated with naked short selling in our stock. These naked short selling practices are illegal, and we are continuing to be diligent in bringing to light the perpetrators of these illegal activities."

"We believe the 'fake allegations and fake news' should be discredited when the Company publishes the key findings of the Report from the Audit Committee and the 2016 audited financial results on February 22nd," concluded Petit.