This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Sanara MedTech Inc. develops and markets advanced wound care and surgical products whose core biomaterials are derived from animals. Its key products, including CellerateRX Surgical Powder and BIASURG, are based on Type I Bovine Collagen and porcine small intestinal submucosa (SIS), materials sourced from cows and pigs. The company's business model is fundamentally dependent on the commercial use of animal-derived tissues.
Cruelty Free Investing lists the company for exploiting animals due to its engagement in animal testing for medical analysis related to its products. This reliance on animal testing for product development and validation places the company within the medical technology sector's routine use of animals, a practice excluded under the firm's ethical guidelines. The company has not published a policy committing to alternative testing methods or a phase-out of animal-derived materials.
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The Naughty List
A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.