Sanara MedTech Inc. (NASDAQ:SMTI) saw its stock fall 2% on Wednesday after the company disclosed a planned CEO transition scheduled for next year.
The firm announced that Seth Yon, currently serving as President and Chief Commercial Officer, will assume the role of President and Chief Executive Officer effective September 15, 2025. Yon will also join the Board of Directors at that time. He will succeed Ron Nixon, who will continue as Executive Chairman.
Yon joined Sanara in March 2018 as Director of Sales, Wound Care, and has steadily advanced in leadership roles. During his tenure in commercial positions, the company achieved annual net revenue growth of 53% on a compounded basis over the past three fiscal years.
“Today’s announcement is the culmination of a longer-term initiative to develop and structure our senior leadership team, with the goal of positioning Sanara for future success in the markets we serve,” said Nixon, who will remain focused on current initiatives in the company’s Sanara Surgical and Tissue Health Plus segments.
Sanara MedTech develops and commercializes technologies for the surgical, chronic wound, and skin care markets, aiming to improve clinical outcomes while reducing healthcare costs.
Before joining Sanara, Yon was Vice President of Sales and Marketing at Iroquois Industrial Group from 2015 to 2018 and previously founded GreenerGrads.
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