CorMedica Group is diving into a new chapter with the announcement of its major restructuring and the introduction of a newly designed and appointed board. With CEO Sepand Moshiri at the helm, the company is turning a new page, one that aims to optimize its operations, drive growth, and eliminate obstacles.
CorMedica Group is a Houston-based holding company that focuses on acquiring and expanding MedTech companies that use AI-powered cardiovascular diagnostic technologies to improve accuracy for physicians and patient care quality. Their main wholly owned subsidiary, Artella Solutions Inc (ARTELLA), specializes in Remote Patient Monitoring, particularly Mobile Cardiac Telemetry (MCT). ARTELLA’s MCT system uses a compact, wireless, non-restrictive cardiac patch to transmit ECG data in real time for immediate physician review and reporting.
The necessity for the restructuring of CorMedica was apparent. “We faced stagnation and delays in our capital raising efforts,” Moshiri explains. “The prior board was not fully aligned with either the immediate or future vision, and internal dynamics posed challenges that stifled our progress and expansion,” Moshiri explains.
Becoming CEO at CorMedica was a natural progression for Moshiri, even if it wasn’t straightforward. Despite being initially overlooked three times, he found himself taking the reins long before he officially held the title. “I have been effectively running operations as the COO and Co-Founder since inception,” he reflects. This battle-tested experience, coupled with reclaiming control of ARTELLA back in late 2021, which he co-founded and initially led, not only showcased his capabilities but also prepared him for the responsibilities and internal shareholder conflicts that lay ahead. “After a long vetting process, it was the obvious choice for me to lead CorMedica as CEO much in the same manner as my comeback into ARTELLA, where I subsequently reshaped and reorganized the company to now 50+ employees,” he adds.
Born in Houston, TX, Moshiri has over 25 years of experience in consultative and strategic leadership and a proven track record in corporate turnarounds, acquisitions, and client operations. Since graduating from Vanderbilt University, he has worked across multiple sectors, including medical devices, telemedicine, disruptive SaaS technology, value-based healthcare, big pharma, and capital markets. Also notable, Moshiri created a unique Elite Customer Service (concierge) model in the Mobile Cardiac Telemetry (MCT) space which is recognized for filling gaps in the industry.
Moshiri’s innovative approach to executive management and team collaboration has not only streamlined processes at CorMedica, but it has also fostered a culture of accountability and performance. His background has equipped him with the necessary insights and tactical skills to lead CorMedica through this transition in order to deliver the final desired results. Many consider him the secret weapon for overarching success.
To support Moshiri’s goals, a realigned Board was cultivated to enhance operational efficiency and instill strategic calibration. In addition to the existing industry stalwarts, Larry W. Lawson and Leo B. Womack, notable technical and clinical experts Brad Ummer and Jacinta (Jess) Fitzsimons bring extensive experience and insight. “We’ve selected individuals who are congruent with our objectives and can help propel us forward,” Moshiri states. “Their tenacious intellect and innovations will play a vital role in shaping the future of CorMedica and its subsidiaries.”
The impact of this bold blueprint cannot be overstated. “We are leaner, and we are more aggressive in our plans,” Moshiri asserts. “By overhauling our processes, we are able to focus on achieving our revenue and capital raise aim without barriers.” This shift represents a significant change in how CorMedica operates. “We are reenergized towards one strategic view. This will help drive innovation at CorMedica and enhance our upcoming competitive edge in the market.”
In fact, as CEO, Moshiri already constructed the robust groundwork to negotiate and complete the divestiture of wholly owned subsidiary Monebo Technologies, Inc., which develops and licenses proprietary and complex digital signal processing algorithms to medical device developers, original equipment manufacturers, and system integrators.
Looking ahead, Moshiri and CorMedica plan to launch a Series A2 capital raise in the 4th quarter, intending to ramp up ARTELLA operations and footprint. “We expect to elevate ARTELLA to a $12 million revenue company within the next year,” Moshiri shares, highlighting his footprint for growth. This goal is not merely aspirational.
“Our leadership team has actionable strategies to deploy resources and a plan for impactful infrastructure development.” Moshiri is also looking to onboard new ventures in order to further diversify CorMedica ‘s portfolio. “I now have the direct path to execute my two pending JV agreements and a revitalized acquisition play that had been previously shelved.”
Moshiri constantly communicates his mantra that accountability should always flow up (not down) in order to shape any organization into a serious competitor in the industry. He coined the phrase “Collaboration with integrity and intelligence,” as the driving force behind CorMedica’s rebirth. His steps were simple: “When integrity and excellence were not enough, I then prioritized steering the existing regime through challenging situations and self-inflicted setbacks while transforming unfashionable deals,” he shares, hinting at the positive cultural shift within the company. “These changes not only symbolize a fresh start for us, but it showcases our commitment to delivering profits, because at the end of the day, you never take credit for others’ good work but take full credit for their bad work.”
CorMedica’s revamped board, restored vision, and ambitious growth plans create a clear path for further triumph. Add to that, Moshiri’s dynamic and pinpoint leadership and, “We have the perfect formula for elevation, expansion, and innovation at CorMedica.”
Learn more about CorMedica Group.