KORU Medical Systems, Inc 8-K, filed Apr 7, 2025
KORU Medical Systems, Inc. (KRMD)
About this 8-K
KORU Medical Systems, Inc filed this 8-K on April 7, 2025, reporting on events of April 3, 2025.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 7.01: Regulation FD disclosure
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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
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CURRENT REPORT
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ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.
On April 3, 2025, Kenneth Miller resigned his employment and position as Chief Commercial Officer of KORU Medical Systems, Inc. (the “Company”), effective immediately, to pursue a Chief Executive Officer role at an organization that does not compete with the Company. KORU Medical would like to thank Mr. Miller for his contributions to the Company and recognize the instrumental role he played in establishing and implementing strategic commercial growth priorities during his tenure.
Rob Cannon will lead the Company’s commercial operations for the Core business until a succeeding Chief Commercial Officer is named. Mr. Cannon has served as the Company’s Vice President of Sales for North America since November 2021 and has over 30 years of experience in sales across the healthcare industry, including11 years with McKesson, a healthcare supply chain management company specializing in providing pharmaceuticals and healthcare services across the globe, where he led the strategy, planning and implementation of sales, and marketing strategies focused on specialty pharma and home infusion channels.
The Company has retained the services of an executive search firm to commence the search for a new Chief Commercial Officer.
ITEM 7.01 REGULATION FD DISCLOSURE.
KORU Medical is reiterating full year 2025 revenue guidance of $38.0-$39.0 million, as issued on the Company’s earnings call on March 12, 2025.
The information contained in this Item 7.01 is being furnished and shall not be deemed to be “filed” with the Securities and Exchange Commission for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section and is not incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof, except as expressly set forth by specific reference in such a filing.
Forward-Looking Statements
This Current Report on Form 8-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts are forward-looking statements, including statements regarding our financial guidance regarding full year 2025 results.
Forward-looking statements discuss the Company’s current expectations and projections relating to its financial position, results of operations, plans, objectives, future performance, and business. Forward-looking statements can be identified by words such as “guidance”, “expect”, “plan”, “believe” and “will”. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties that could cause actual results to differ from the results predicted include, among others, uncertainties associated with SCIg market growth, prefilled syringe penetration, plasma supply, clinical trial activity and success, approval and commercialization of new drug indications, the shift to increased healthcare delivery in the home, new patient diagnoses, customer ordering patterns, global health crises, innovation and competition, labor and supply price increases, inflationary impacts, labor supply, and those risks and uncertainties included under the captions “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2024, which is on file with the SEC and available on our website at www.korumedical.com/investors and on the SEC website at www.sec.gov. All information provided in this release and in the attachments is as of April 7, 2025. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to us on the date hereof. We undertake no duty to update this information unless required by law.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| KORU Medical Systems, Inc. (Registrant) | ||
| Date: April 7, 2025 | By: | /s/ Linda Tharby |
| Linda Tharby President and Chief Executive Officer | ||
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