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| ⌧     ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934     |
|---------------------------------------------------------------------------------------------------------------------|
|                                                                                                                |
| For the fiscal year ended  December 31, 2019                                                                   |
|                                                                                                                |
| OR                                                                                                                  |
|                                                                                                                |
| □     TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|                                                                                                                |
| For the transition period from ____________ to ___________                                                          |
|                                                                                                                |
| Commission File No. 001-12575                                                                                       |
| Utah                                                           | 87‐0342734                     |
|----------------------------------------------------------------|--------------------------------------|
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
| 7043 South 300 West                                 |
|-----------------------------------------------------|
| Midvale, Utah  84047                           |
| (Address of principal executive offices) (Zip Code) |
| (801) 566‐1200                                       |
|------------------------------------------------------------|
| (Registrant’s telephone number, including area code) |
| Securities registered pursuant to Section 12(b) of the Act:      |            |                                       |
|------------------------------------------------------------------|-----------------|--------------------------------------------|
|                                                             |            |                                       |
| Title of each class:                                             | Trading Symbol: | Name of each exchange on which registered: |
| Common stock, $0.01 par value                                    | UTMD            | NASDAQ                                     |
|                                                             |            |                                       |
| Securities registered pursuant to Section 12(g) of the Act: None |            |

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| Large accelerated filer □ | Accelerated filer ⌧    |
|--------------------------------------|-----------------------------------|
| Non-accelerated filer □        | Smaller reporting company □ |
|                                 | Emerging growth company □   |
| DOCUMENTS INCORPORATED BY REFERENCE                                                                                              |
|----------------------------------------------------------------------------------------------------------------------------------|
| The following documents (or parts thereof) are incorporated by reference into the following parts of this Form 10-K:  None. |

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|    | PART III                                                            |   |
|---------|--------------------------------------------------------------------------|--------|
|    |                                                                     |   |
| Item 10 | Directors, Executive Officers and Corporate Governance                   | 4      |
|    |                                                                     |   |
| Item 11 | Executive Compensation                                                   | 6      |
|    |                                                                     |   |
| Item 12 | Security Ownership of Certain Beneficial Owners and Management           | 12     |
|    |                                                                     |   |
| Item 13 | Certain Relationships and Related Transactions and Director Independence | 16     |
|    |                                                                     |   |
| Item 14 | Principal Accounting Fees and Services                                   | 16     |
|    |                                                                     |   |
|    | PART IV                                                             |   |
|    |                                                                     |   |
| Item 15 | Exhibits                                                                 | 17     |
|    |                                                                     |   |
|    | Signatures                                                               | 18     |

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|              |   | Year    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|-------------------|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|              |   | First   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| Name              | Age    | Elected | Business Experience during Past Five Years and Other Information                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|              |   |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| Kevin L. Cornwell | 73     | 1993    | Chairman of UTMD since 1996.  President and CEO since December 1992. Secretary since 1993.  Has served in various senior operating management              positions in several technology-based companies over a 42-year time span, including as a director on seven other company boards.  Received B.S. degree in Chemical Engineering from Stanford University, M.S. degree in Management Science from              the Stanford Graduate School of Engineering, and MBA degree specializing in Finance and Operations Management from the Stanford Graduate School of Business.                                                                                                                                                                                                                                                                                                                                                                                                    |
|              |   |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| Ernst G. Hoyer    | 82     | 1996    | Retired.  Chairman of the Audit Committee and Lead Independent Director. Served fifteen years as General Manager of Petersen Precision Engineering              Company, Redwood City, CA.  Previously served in engineering and general management positions for four technology-based companies over a 35-year time span.  Received B.S. degree in process engineering from the University of California,              Berkeley, and MBA degree from the University of Santa Clara.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|              |   |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| Barbara A. Payne  | 73     | 1997    | Retired.  Served over eighteen years as corporate research scientist for a Fortune 50 firm, as an environmental scientist at a national laboratory              and as a consulting environmental sociologist.  Received B.A. degree in psychology from Stanford University, M.A. degree from Cornell University, and M.A. and Ph.D. degrees in sociology from Stanford University.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|              |   |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| James H. Beeson   | 78     | 2007    | Retired. Maternal-Fetal Medicine Physician, St. Joseph Medical Center, Houston, Texas. Professor of              Maternal-Fetal Medicine at the McGovern Medical School at the University of Texas Health Science Center at Houston. Received B.S. degree in Chemistry from Indiana University, Ph.D. degree in Organic Chemistry from M.I.T., MBA from Michigan              State University, and MD from the University of Chicago Pritzker School of Medicine. Served four year residency in Ob/Gyn at Chicago Lying-In Hospital, a fellowship in maternal-fetal medicine at the University of Utah and actively practiced              Obstetrics and Gynecology for over 35 years. Currently licensed to practice medicine in the states of Utah, Oklahoma and Texas.  Has published numerous articles and other technical papers. Has industrial experience in product development of              in vitro diagnostics at the Ames Company division of Miles Laboratory (now Bayer). |
|              |   |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| Paul O. Richins   | 59     | 1998    | Retired. Chief Administrative Officer of UTMD from 1997 to 2018.  UTMD Treasurer and Assistant Secretary from 1994 to 2018.  Received B.S. degree              in finance from Weber State University, and MBA degree from Pepperdine University.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |

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| Name              | Age    | Appointed | Position                                                                                                                                                                                                                                                                                                 |
|-------------------|--------|-----------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|              |   |      |                                                                                                                                                                                                                                                                                                     |
| Kevin L. Cornwell | 73     | 1992      | President and CEO                                                                                                                                                                                                                                                                                        |
|                   |   |      | Description of experience provided above.                                                                                                                                                                                                                                                                |
|              |   |      |                                                                                                                                                                                                                                                                                                     |
| Brian L. Koopman  | 50     | 2018      | Principal Financial Officer                                                                                                                                                                                                                                                                              |
|                   |   |      | Accounting Manager/ Controller of UTMD since 2006. Principal Financial Officer  since April 2018.  Served in various accounting positions prior to              UTMD for over eleven years. Previous CPA (California). Received B.S. degree in Business Administration, Accounting, from UNLV. |

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| Name and Principal Position                      |  Year | Salary($) |    |   | Bonus($) |   |   | OptionAwards($) |   |   | Non-equityIncentive Plan Compensation($) |   |   | AllOtherCompensation($) |    |   | Total($) |   |
|--------------------------------------------------|------------|-----------|---------|--------|----------|--------|--------|-----------------|--------|--------|------------------------------------------|--------|--------|-------------------------|---------|--------|----------|--------|
| Kevin L. Cornwell                                |  2019 |      | 156,000 |   |     |   | --     |            |   |   | --                                       |   |   |                    | 310,800 |   |     |   | 7,320 |   |   |   | 474,120 |   |
|   Chairman & CEO                        |  2018 |      | 156,000 |   |     |   | --     |            |   |   | --                                       |   |   |                    | 338,100 |   |     |   | 7,200 |   |   |   | 501,300 |   |
|                                                  |  2017 |      | 156,000 |   |     |   | --     |            |   |   | --                                       |   |   |                    | 338,100 |   |     |   | 7,080 |   |   |   | 501,180 |   |
|                                             |       |      |    |   |     |   |   |            |   |   |                                     |   |   |                    |    |   |     |   |   |   |   |   |   |   |
| Paul O. Richins                                  |  2018 |      | 39,827  |   |     |   | --     |            |   |   | --                                       |   |   |                    | --      |   |     |   | 1,702 |   |   |   | 41,529 |   |
|   VP & Principal Financial Officer |  2017 |      | 118,507 |   |     |   | --     |            |   |   | --                                       |   |   |                    | 24,292  |   |     |   | 3,931 |   |   |   | 146,730 |   |
|                                             |       |      |    |   |     |   |   |            |   |   |                                     |   |   |                    |    |   |     |   |   |   |   |   |   |   |
| Brian L. Koopman                                 |  2019 |      | 107,694 |   |     |   | --     |            |   |   | --                                       |   |   |                    | 13,276  |   |     |   | 3,516 |   |   |   | 124,486 |   |
|   Principal Financial Officer          |  2018 |      | 103,141 |   |     |   | --     |            |   |   | --                                       |   |   |                    | 13,814  |   |     |   | 3,388 |   |   |   | 120,343 |   |
| 1.     | Mr. Richins retired from employment on April 2, 2018.  The Board of Directors appointed Brian Koopman, who served as UTMD’s Controller since 2006,              to replace Mr. Richins as UTMD’s Principal Financial Officer.                                                                                                                                                                                                                                                                                                                                                                                                                     |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 2.     | Amounts included in All Other Compensation represent the aggregate total of Company 401(k) matching contributions, Company Section 125 matching              contributions, and reimbursements under UTMD’s pet insurance plan to each named executive officer, all of which are benefits available to regular full-time employees.  During 2020, each named executive officer will be eligible to receive              payment of eligible medical expenses under the employee Health Plan, up to $6,840 in 401(k) matching contributions, up to $500 in pet health cost reimbursements and up to $500 in matching Section 125 matching contributions. |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 3.     | Medical, dental and vision expenses paid under the Company’s Health Plan, which are available to regular full-time employees, are not included in              the above table.                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 4.     | Non-equity Incentive Plan Compensation amounts, as described in more detail starting on page 10 under Bonuses were paid in early February of the              applicable following calendar year, representing Management Bonuses earned during the fiscal year reported.                                                                                                                                                                                                                                                                                                                                                                                          |

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|                         |   | Option Awards                                          |
|-------------------------|--------|--------------------------------------------------------|
|                         |   | Number of Securities Underlying Unexercised Options(#) |   |   | Number of SecuritiesUnderlying Unexercised Options(#) |   |   | Option Exercise Price($) |   | Option Expiration Date |
| Named Executive Officer |   | Exercisable                                            |   |   | Unexercisable |   |
| Brian L. Koopman        |   |                                                   | 62 |   |   |   | 0 |   |   |   | 49.18 |   |   5/8/2024 |
|                    |   |                                                   | 500 |   |   |   | 187 |   |   |   | 58.50 |   |  11/8/2026 |
|                    |   |                                                   | 400 |   |   |   | 1,200 |   |   |   | 74.64 |   |  12/24/2028 |
| Name          |   | Fees Earned or Paid in Cash($) |   |   | Stock Awards($) |   |   | Option Awards($) |   |   | All Other Compensation($) |   |   | Total($) |   |
|---------------|--------|--------------------------------|--------|--------|-----------------|--------|--------|------------------|--------|--------|---------------------------|--------|--------|----------|--------|
| James Beeson  |   |                           | 26,000 |   |            |   | --     |             |   |   | --                        |   |   |     | --     |   |   |   | 26,000 |   |
| Ernst Hoyer   |   |                           | 33,000 |   |            |   | --     |             |   |   | --                        |   |   |     | --     |   |   |   | 33,000 |   |
| Barbara Payne |   |                           | 26,000 |   |            |   | --     |             |   |   | --                        |   |   |     | --     |   |   |   | 26,000 |   |
| Paul Richins  |   |                           | 26,000 |   |            |   |   |             |   |   |                      |   |   |     |   |   |   |   | 26,000 |   |
| 1.     | Mr. Hoyer received $4,000 for participating as a member of the Executive Committee, $3,000 as Chairman of the Audit Committee and $26,000 as the              base annual outside director’s fee. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                    |
| 2.     | Dr. Beeson received the $26,000 base annual outside director’s fee.                                                                                                                               |
|   |                                                                                                                                                                                                    |
| 3.     | Dr. Payne received the $26,000 base annual outside director’s fee.                                                                                                                                |
|   |                                                                                                                                                                                                    |
| 4.     | Mr. Richins received the $26,000 base annual outside director’s fee.                                                                                                                              |

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|        Plan Category    |   | Number of Securities To Be Issued upon Exercise of Outstanding Options, Warrants and Rights(a) |   |   | Weighted-Average Exercise Price of Outstanding Options, Warrants and Rights(b) |             |   | Number of Securities Remaining Available for Future Issuance under Equity Compensation Plans (excluding securities reflected in column (a))(c) |   |
|------------------------------------------------------------|--------|------------------------------------------------------------------------------------------------|--------|--------|--------------------------------------------------------------------------------|------------------|--------|------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                       |   |                                                                                           |   |   |                                                                           |             |   |                                                                                                                                           |   |
| Equity compensation plans approved by security holders     |   |                                                                                           | 51,689 |   |                                                                           | $                | 58.50  |                                                                                                                                           |   |   | 532,800 |   |
| Equity compensation plans not approved by security holders |   |                                                                                           | -      |   |                                                                           | (Not applicable) |   |                                                                                                                                           |   | - |   |
| Total                                                      |   |                                                                                           | 51,689 |   |                                                                           | $                | 58.50  |                                                                                                                                           |   |   | 532,800 |   |
|                                                                                        |   | 2017   |    |   | 2018   |   |    | 2019   |   |
|---------------------------------------------------------------------------------------------|--------|--------|---------|--------|--------|--------|---------|--------|--------|
| Option shares available for award per stockholder approved option plans (beginning of year) |   |   | 241,300 |   |   |   | 303,000 |   |   |   | 330,600 |   |
| Option shares allocated by the Board of Directors                                           |   |   | 40,000  |   |   |   | 40,000  |   |   |   | 40,000 |   |
| Total option shares awarded                                                                 |   |   | 0       |   |   |   | 22,400  |   |   |   | 0 |   |
|                                                             |   | 2017   |      |   | 2018   |   |      | 2019   |   |
|------------------------------------------------------------------|--------|--------|-----------|--------|--------|--------|-----------|--------|--------|
| Total unexercised awarded option shares (end of year)            |   |   | 54,340    |   |   |   | 61,018    |   |   |   | 51,689 |   |
| Weighted-average unexercised option exercise price               |   | $      | 45.50     |   |   | $      | 56.78     |   |   | $ | 58.50 |   |
| Closing market price of UTMD stock per share (end of year)       |   | $      | 81.40     |   |   | $      | 83.08     |   |   | $ | 107.90 |   |
| (A) Dilution from options (shares)                               |   |   | 19,430    |   |   |   | 18,344    |   |   |   | 17,728 |   |
| (B) Weighted average shares outstanding                          |   |   | 3,717,492 |   |   |   | 3,730,303 |   |   |   | 3,720,868 |   |
| Total diluted shares outstanding (A+B), used for EPS calculation |   |   | 3,736,922 |   |   |   | 3,748,647 |   |   |   | 3,738,596 |   |

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| Name                                 | Nature of Ownership |   | Number of Shares Owned |    |   | Percent |   |
|--------------------------------------|---------------------|--------|------------------------|---------|--------|---------|--------|
| Principal Stockholders               |                |   |                   |    |   |    |   |
| FMR LLC                              | Direct              |   |                   | 435,898 |   |    |   | 11.8 | % |
| 245 Summer Street                    |                |   |                   |    |   |    |   |   |   |
| Boston, Massachusetts  02210    |                |   |                   |    |   |    |   |   |   |
|                                 |                |   |                   |    |   |    |   |   |   |
| T. Rowe Price Associates, Inc.       | Direct              |   |                   | 318,683 |   |    |   | 8.6 | % |
| 100 East Pratt Street                |                |   |                   |    |   |    |   |   |   |
| Baltimore, Maryland  21202-1009 |                |   |                   |    |   |    |   |   |   |
|                                 |                |   |                   |    |   |    |   |   |   |
| Renaissance Technologies LLC         | Direct              |   |                   | 234,214 |   |    |   | 6.3 | % |
| 800 Third Ave                        |                |   |                   |    |   |    |   |   |   |
| New York, New York 10022             |                     |   |                   |    |   |    |   |   |   |
|                                 |                |   |                   |    |   |    |   |   |   |
| BlackRock Fund Advisors              | Direct              |   |                   | 205,064 |   |    |   | 5.6 | % |
| 400 Howard Street                    |                |   |                   |    |   |    |   |   |   |
| San Francisco, CA  94105        |                |   |                   |    |   |    |   |   |   |
| Directors and Executive Officers |    |   |    |   |   |   |
|----------------------------------|---------|--------|---------|--------|--------|--------|
| Kevin L. Cornwell (1)            | Direct  |   | 197,857 |   |   |   | 5.4 | % |
|                             |    |   |    |   |   |   |   |   |
| Ernst G. Hoyer (1)(2)(3)(4)      | Direct  |   | 10,000  |   |   |   | 0.3 | % |
|                             |    |   |    |   |   |   |   |   |
| Barbara A. Payne (2)(3)(4)       | Direct  |   | 18,338  |   |   |   | 0.5 | % |
|                             |    |   |    |   |   |   |   |   |
| Paul O. Richins(2)(3)            | Direct  |   | 24,254  |   |   |   | 0.7 | % |
|                                  | Options |   | 62      |   |   |   | 0.0 | % |
|                                  | Total   |   | 24,316  |   |   |   | 0.7 | % |
|                             |    |   |    |   |   |   |   |   |
| James H. Beeson (2)(4)           | Direct  |   | 13,125  |   |   |   | 0.4 | % |
|                             |    |   |    |   |   |   |   |   |
| Brian L. Koopman                 | Direct  |   | 607     |   |   |   | 0.0 | % |
|                             |    |   |    |   |   |   |   |   |
|                                  | Options |   | 2,349   |   |   |   | 0.1 | % |
|                                  | Total   |   | 2,956   |   |   |   | 0.1 | % |
|                             |    |   |    |   |   |   |   |   |
| All executive officers and       | Direct  |   | 264,181 |   |   |   | 7.1 | % |
| directors as a group (5 persons) | Options |   | 2,411   |   |   |   | 0.1 | % |
|                                  | Total   |   | 266,592 |   |   |   | 7.2 | % |

| (1) | Executive Committee member                 |
|-----|--------------------------------------------|
| (2) | Audit Committee member                     |
| (3) | Governance and Nominating Committee member |
| (4) | Compensation and Benefits Committee member |

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| Lead Audit Firm    |   | 2019   |    |   | 2018   |   | Other Accounting Firms |   | 2019               |   |   | 2018    |   |
|--------------------|--------|--------|---------|--------|--------|--------|------------------------|--------|--------------------|--------|--------|---------|--------|
| Audit Fees         |   | $      | 125,100 |   |   | $      | 127,636                |   | Audit Fees         |   | $      | 47,489  |   |   | $ | 43,837 |   |
| Audit-Related Fees |   |   | 1,954   |   |   |   | 1,884                  |   | Audit-Related Fees |   |   | -       |   |   |   | 1,070 |   |
| Tax Fees           |   |   | -       |   |   |   | 20,800                 |   | Tax Fees           |   |   | 57,811  |   |   |   | 42,873 |   |
| Total:             |   | $      | 127,054 |   |   | $      | 150,320                |   | Total              |   | $      | 105,300 |   |   | $ | 87,780 |   |
| Exhibit # | SECReference # | Title of Document                                                                                                                            | Location    |
|-----------|----------------|----------------------------------------------------------------------------------------------------------------------------------------------|-------------|
|      |           |                                                                                                                                         |        |
| 1         | 31             | Certification of CEO Pursuant to Rule 13a-14(a) as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002                         | This filing |
|      |           |                                                                                                                                         |        |
| 2         | 31             | Certification of Principal Financial Officer Pursuant to Rule 13a-14(a) as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | This filing |

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|   | By:/s/ Kevin L. Cornwell |
|--------|--------------------------|
|   | Kevin L. Cornwell        |
|   | Chief Executive Officer  |
|   | By:   /s/ James H. Beeson   |
|--------|----------------------------------|
|   | James H. Beeson, Director        |
|   |                             |
|   |                             |
|   | By:   /s/ Kevin L. Cornwell |
|   | Kevin L. Cornwell, Director      |
|   |                             |
|   |                             |
|   | By:   /s/ Ernst G. Hoyer    |
|   | Ernst G. Hoyer, Director         |
|   |                             |
|   |                             |
|   | By:   /s/ Barbara A. Payne  |
|   | Barbara A. Payne, Director       |
|   |                             |
|   |                             |
|   | By:   /s/ Paul O. Richins   |
|   | Paul O. Richins, Director        |

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