Management ChangeJun 24, 2026, 08:31 AM
Nuwellis Appoints Mike McCormick CEO; Outlines Strategy
AI Summary
Nuwellis, Inc. announced Mike McCormick will assume the role of Chief Executive Officer on June 30, 2026, with John Erb transitioning to Chairman of the Board. The company reported strong Q1 2026 results, including 26% year-over-year revenue growth and a 70.1% gross margin. Nuwellis also outlined strategic priorities, including the acquisition of Rendiatech, Inc. to expand its critical care platform, and efforts to broaden the Aquadex pediatric indication to smaller patients. The company aims for continued double-digit revenue growth, margin expansion, and disciplined capital allocation.
Key Highlights
- Mike McCormick appointed Chief Executive Officer, effective June 30, 2026.
- John Erb transitions from CEO to continue as Chairman of the Board.
- Q1 2026 revenue grew 26% year-over-year.
- Q1 2026 gross margin improved to 70.1%, a 14% point increase.
- Acquired Rendiatech, Inc. to add automated kidney function monitoring technology.
- Advancing efforts to expand Aquadex pediatric indication to patients weighing 5 kilograms.
- Strengthened capital position and maintaining Nasdaq listing.
- Objective to deliver consistent double-digit revenue growth and expand gross margins.
Price Impact
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