Jorey Chernett, a beneficial owner of more than 5.5% of CVRx Inc (NASDAQ: CVRX) shares, has urged the company’s board to initiate an immediate sale process.

The Pointillist Family Office founder delivered a letter to the board on August 24, 2026, arguing that a sale would unlock significant value for shareholders through the strategic acquisition of CVRx’s Barostim product.

Strategic Rationale

Chernett contends that Barostim holds unique value for large medical device companies with established infrastructure. He asserts that a sale could be accretive to an acquirer within twelve months, offering CVRx shareholders immediate value superior to standalone operations.

The letter highlights the strategic scarcity of Barostim as the only approved neuromodulation therapy for heart failure. Chernett argues that launching a sale process now, while the company retains cash and field momentum, will yield better outcomes than a forced sale due to depleted cash reserves later.

Proposed Actions

The shareholder calls on the board to take three specific steps:

• Retain an independent financial advisor to review strategic alternatives, prioritizing a sale.
• Aggressively cut executive compensation and general and administrative expenses.
• Suspend incremental standalone spending commitments during the review period.

Chernett emphasizes that the board must commit to a clear timeline and move with urgency rather than waiting for financial pressure to dictate terms.

CVRx Inc (NASDAQ: CVRX) announced that Devoted Health has issued a Medicare Advantage coverage policy for its Barostim therapy. The policy becomes effective on July 17, 2026.

Devoted Health is a national health insurance company with the eighth largest Medicare Advantage enrollment in the U.S. The insurer provides coverage to approximately 466,000 Medicare Advantage members across 29 states.

Coverage Scope and Market Impact

The new policy covers Barostim for patients meeting its current FDA-approved indication. It also extends coverage to patients enrolled in the BENEFIT-HF trial. This landmark heart failure study evaluates Barostim in a significantly expanded patient population initiated earlier this year.

Kevin Hykes, President and Chief Executive Officer of CVRx, stated that Devoted Health is one of the fastest-growing Medicare Advantage plans in the U.S. He noted that the combined Devoted Health and Humana coverage policies represent approximately 21 percent of Medicare Advantage enrollment.

Reimbursement Progression

The Devoted Health policy follows several reimbursement developments for Barostim in 2026:

• In January, Category I CPT codes went into effect for the Barostim procedure.
• The Centers for Medicare & Medicaid Services (CMS) approved Category B IDE coverage for patients enrolled in the BENEFIT-HF trial.
• In May, Humana issued a Barostim therapy coverage policy for Medicare Advantage members and patients enrolled in the BENEFIT-HF trial.

What the Numbers Show

The consolidation of coverage among major payers indicates a shift toward standardized reimbursement for neuromodulation therapies. With Devoted Health and Humana covering approximately 21 percent of the Medicare Advantage market, CVRx has secured access to a significant portion of its potential patient base without relying solely on traditional fee-for-service models.

About CVRx

CVRx is a commercial-stage medical device company focused on developing, manufacturing and commercializing innovative neuromodulation solutions for patients with cardiovascular diseases. Barostim is the first medical technology approved by the FDA that uses neuromodulation to improve symptoms of patients with heart failure.

Barostim is an implantable device that delivers electrical pulses to baroreceptors located in the wall of the carotid artery. The therapy is designed to restore balance to the autonomic nervous system and thereby reduce the symptoms of heart failure. It holds FDA Breakthrough Device designation and CE Mark approval for heart failure and resistant hypertension in the European Economic Area.