Investor Relations

Meet Our Team

Morgan Frank

CEO/Chairman of the Board

Morgan Frank joined SANUWAVE as chairman of the board of directors in August of 2022 and became CEO in May of 2023. Mr. Frank has been a principal at the life sciences focused investment fund Manchester Management since 2003 and a director of Manchester Explorer Cayman Ltd since 2013. Prior to that, he was a founder and managing director at First Principles Group, a boutique consultancy and principal investor specializing in corporate restructuring, restarts, intellectual property assessment and salvage, and spin-outs. Prior, Mr. Frank spent approximately five years as an analyst and portfolio manager at Hollis Capital, a San Francisco-based hedge fund. He currently sits on the board of directors of Modular Medical (MODD), a development-stage insulin delivery company. Mr. Frank holds BA’s in Economics and in Political Science from Brown University.

Andrew Walko


Andrew Walko joined SANUWAVE as President in July of 2023 and brings over 17 years of progressive leadership experience in the medical device industry and the US Army. Andrew held key leadership roles at Biomerics Advanced Catheter, Minnetronix Medical and Greatbatch/Integer where he focused on operations, new product scale-up and launch, and cost improvement initiatives before joining SANUWAVE. In addition to his medical device experience, Andrew served in the US Army and graduated from the US Army Ranger School. He has deployed to Iraq, Afghanistan, and Haiti. He is also actively engaged with the Leukemia and Lymphoma Society and has served as the Executive Challenge Chair and the Corporate Walk Chair for the Light the Night event in the Twin Cities. Andrew has a Bachelor’s Degree in Business Management from West Virginia University and an MBA from the University of Minnesota.

Peter Sorensen


Peter Sorensen joined SANUWAVE as Chief Financial Officer in April of 2024 and brings over a decade of finance experience including the medical device industry since 2017. Peter was most recently the Vice President of Finance and Human Resources at Endogenex, Inc., a venture-backed medical device company focused on the treatment of type-2 diabetes. Prior to Endogenex, he spent time at LivaNova PLC in the new ventures group with the Transcatheter Mitral Valve Replacement and Vagus Nerve Stimulation for Heart Failure divisions. He also spent time in consulting at eCapital Advisors implementing FP&A solutions for large public and private companies. Sorensen brings strong finance, forecasting, analysis, and capital markets experience as well as abilities in software, process automation, and human resources to SANUWAVE. Sorensen earned his bachelor’s degree from Bethel University and his Master of Business Administration from St. Cloud State University.

Nanci Gilmore

Vice President, Commercial Operations

Nanci Gilmore joined SANUWAVE in February 2023 as the Vice President of Commercial Operations. Gilmore has over 25 years of progressive experience in the medical device industry, specifically focusing on start-up, rapid-growth enterprises. Gilmore’s passion and commitment to bringing innovative technologies to clinicians, with a patient-centric mindset, results in high-yield, consumer program development and implementation.

Gilmore’s diverse experience spans multiple medical specialties, representing organizations including Entellus Medical, SenoRx, Echosens, and most recently, THINK Surgical. Gilmore’s unique skill set will vitalize SANUWAVE’s customer relations and strategic growth.

Gilmore earned her bachelor’s degree from Clark University and her master’s from the University of North Carolina at Chapel Hill.

Tim Hendricks

Executive Vice President of Sales – U.S. Wound

Tim Hendricks joined SANUWAVE in February of 2023 as the Executive V.P. of Sales for the U.S. Wound business. Across his 20 years of industry experience, Hendricks has taken on progressive roles in sales leadership, training & development, and professional education with responsibilities both internationally and in the U.S.

Tim has led sales and sales leadership teams in medical devices, biologics, specialty pharmaceuticals, and durable medical equipment. His passion for collaboration and growth has allowed him to thrive at start-ups and Fortune 500 companies such as Boston Scientific (formerly Advanced Bionics), Smith & Nephew (formerly Osiris Therapeutics), and most recently Byram Healthcare as the Vice President of Sales.

Having spent a decade working in the chronic wound market, Hendricks will continue the build-out of SANUWAVE's team and growth strategy. He earned a Bachelor of the Arts in Advertising from Southern Methodist University.

Pete Stegagno

Chief Operation Officer

Peter Stegagno joined SANUWAVE as Vice President, Operations in March 2006. Stegagno has nearly 30 years of experience in the medical device market, encompassing manufacturing, design and development, quality assurance and international, and domestic regulatory affairs. He has been instrumental in the development and deployment of international operational processes for leading medical device companies.

Prior to joining SANUWAVE, Stegagno served as Vice President of Quality and Regulatory Affairs for Elekta and director level roles in medical device companies including Genzyme Biosurgery. Before focusing on the medical field, he enjoyed a successful career in production roles in the space industry, including avionics guidance systems for military applications and control computers for the space shuttle. Stegagno graduated from Tufts University with a B.S. degree in Chemical Engineering.

Iulian Cioanta, Ph.D.

Chief Science and Technology Officer

Dr. Iulian Cioanta joined SANUWAVE in June 2007 as director of research and development. In 2009, he was promoted to vice president of research and development and, in 2018, to chief science and technology officer.

Prior to joining SANUWAVE, Dr. Cioanta served as business unit manager with Cordis Endovascular, a Johnson & Johnson company; director of development engineering with Kensey Nash Corporation; research manager at ArgoMed Inc., and project manager and scientist with the Institute for the Design of Research Apparatuses. He has 20+ years of experience in the medical device industry.

Dr. Cioanta also worked in academia at Polytechnic University of Bucharest in Romania, Leicester University in the United Kingdom, and Duke University in the United States.

He received a B.S. degree in Engineering and Management of Technological Systems and Business Management and an M.S. degree in Engineering and Management of Technological Systems from the Polytechnic University of Bucharest, and he earned his Ph.D. in Biomedical Engineering from Duke University in the field of extracorporeal shockwave lithotripsy.

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