Nuwellis Appoints Mike McCormick as Chief Executive Officer
Nuwellis (Nasdaq: NUWE) appointed Mike McCormick as Chief Executive Officer, effective June 30, 2026.
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Rhea-AI Summary
Nuwellis (Nasdaq: NUWE) appointed Mike McCormick as Chief Executive Officer, effective June 30, 2026. Current President, CEO, and Chairman John Erb will step down from executive duties and remain Chairman of the Board.
McCormick has over 30 years of medical technology leadership and previously served as a Nuwellis Board member.
Details
News Market Reaction – NUWE
On Jun 16, the day this news came out, NUWE closed 0.88% below the previous close.
Data tracked by StockTitan Argus for the Jun 16 session.
Key Figures
- CEO transition date
- June 30, 2026
- Effective date for Mike McCormick to become CEO
- Board tenure
- June 2023–January 2026
- McCormick’s prior service as Nuwellis board member
- Leadership experience
- More than three decades
- McCormick’s medical technology leadership background
- Registered offering proceeds
- $6.0 million
- Gross proceeds from June 2026 registered public offering
- Q1 2026 net sales
- $2.4 million
- First quarter 2026 revenue
- Q1 2026 gross margin
- 70.1%
- First quarter 2026 margin improvement
- Q1 2026 net loss
- $4.3 million
- Net loss attributable to common shareholders
- Resale warrant capacity
- $28 million
- Potential warrant exercise proceeds under S-3 shelf
Historical Context
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Expanded collaboration to install and upgrade Aquadex SmartFlow devices in pediatrics.
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Closed $6.0M registered public offering with common and pre-funded warrants.
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Priced $6M public offering with large Series C and D warrant coverage.
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Successful FDA pre-submission 510(k) meeting on Aquadex pediatric label expansion.
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Q1 2026 results with higher revenue but sizable losses and limited cash.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
cardiorenal medical
precision fluid management medical
capital formation financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Transition to become effective June 30, 2026; current CEO John Erb to continue as Chairman of the Board
MINNEAPOLIS, June 16, 2026 (GLOBE NEWSWIRE) -- Nuwellis, Inc. (Nasdaq: NUWE), a medical technology company committed to delivering solutions for patients with cardiorenal conditions, announces the appointment of Mike McCormick as Chief Executive Officer, effective June 30, 2026. John Erb, who currently serves as President, CEO, and Chairman of the Board, will transition from his executive leadership role and continue serving as Chairman of the Board.
“Mike brings an exceptional combination of operational leadership, commercial expertise, and strategic vision,” said Erb. “His deep understanding of the medical device industry and proven track record of building and scaling innovative healthcare companies make him uniquely qualified to lead Nuwellis into its next phase of growth. I look forward to supporting Mike and the management team as Chairman of the Board.”
“Nuwellis has an important opportunity to expand the role of precision fluid management in cardiorenal care,” said McCormick. “I am excited to work with our employees, leadership team, Board, clinicians, and customers to build on the Company’s momentum, strengthen commercial execution, advance our pipeline, and create value for patients, healthcare providers, and shareholders.”
McCormick is a seasoned medical technology executive with more than three decades of leadership experience spanning product development, commercialization, corporate strategy, and value creation. He served as a Board Member and Independent Director of Nuwellis from June 2023 through January 2026. Throughout his career, McCormick has founded, scaled, and led both public and private medical technology companies, creating value through successful commercialization, operational execution, capital formation, and strategic transactions across multiple healthcare markets.
About Nuwellis
Nuwellis, Inc. (Nasdaq: NUWE) is a medical technology company committed to delivering solutions for patients with cardiorenal conditions. The Company develops solutions designed to support patient care through monitoring, therapy, and data-informed clinical decision-making across acute and chronic care settings. Nuwellis’ portfolio includes commercially available and development-stage technologies addressing complex cardiorenal conditions, with a focus on safety, precision, and scalability across patient populations. For more information, visit www.nuwellis.com.
Forward-Looking Statements
Certain statements in this release may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, statements regarding the new market opportunities and anticipated growth in 2026 and beyond. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this release, including, without limitation, those risks associated with our ability to execute on our commercialization strategy, the possibility that we may be unable to raise sufficient funds necessary for our anticipated operations, our post-market clinical data collection activities, benefits of our products to patients, our expectations with respect to product development and commercialization efforts, our ability to increase market and physician acceptance of our products, potentially competitive product offerings, intellectual property protection, our ability to integrate acquired businesses, our expectations regarding anticipated synergies with and benefits from acquired businesses, and other risks and uncertainties described in our filings with the SEC. Forward-looking statements speak only as of the date when made. Nuwellis does not assume any obligation to publicly update or revise any forward-looking statements, whether due to new information, future events or otherwise.
For further information, please contact:
Investor Relations:
ir@nuwellis.com
Media Contact:
CORE PR
media@nuwellis.com
FAQ
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