Incoming Nuwellis CEO Mike McCormick outlined strategic priorities in a letter to shareholders, emphasizing continued market expansion in pediatrics and revenue generation. The company reported 26% year-over-year revenue growth in the first quarter of 2026, with gross margin improving to 70.1%, a 14 percentage point increase from the prior-year period. Approximately 75% of revenue currently comes from pediatric and critical care categories, and Nuwellis is working to expand the Aquadex indication from patients weighing 20 kilograms down to those as low as 5 kilograms, having recently engaged with the FDA on a submission strategy using existing clinical and real-world evidence. The company also acquired Rendiatech, Inc. earlier this year, adding automated kidney function monitoring technology to complement its Aquadex platform in the ICU. McCormick, who assumes the CEO role effective June 30, 2026, stressed disciplined capital allocation, reducing cash burn, and maintaining the Nasdaq listing as key objectives.
Nuwellis IncRevenue growth, margin improvement, and cost discipline outlined in CEO letter