What smart money is saying about Sanuwave Health
5 funds in our archive have pitched Sanuwave Health, most recently Deep Sail Capital Partners LP in September 2026.
SANUWAVE Health, Inc. is a shockwave technology company, which engages in the development and commercialization of patented noninvasive, biological response activating devices. Its portfolio of healthcare products and product candidates activate biologic signaling and angiogenic responses, including new vascularization and microcirculatory improvement, helping to restore the body's normal healing processes and regeneration. The company was founded on May 6, 2004 and is headquartered in Eden Prairie, MN.
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Fund signal · last 12 months
4 lettersToo few moves on Sanuwave Health yet for a clear signal
Moves described in fund letters in our archive. A sentence published word for word by several funds of one house in the same quarter counts once.
Position history
Between Q3 2025 and Q3 2026, 4 fund letters reported a position in Sanuwave Health, with 3 sells (trimmed or exited).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 1 | 0 | 1 | 1 |
| Q2 2026 | 3 | 0 | 2 | 0 |
| Q1 2026 | 0 | 0 | 0 | 1 |
| Q4 2025 | 0 | 0 | 0 | 2 |
| Q3 2025 | 0 | 0 | 0 | 1 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 4 positions · 4 moves
- September 2026
“Some of these drawdowns were warranted, as with Sanuwave (driven by the proposed CMS reimbursement change), while others, such as Hydreight Technologies, were not.”
Sanuwave Health - June 2026
“Sanuwave - when the thesis breaks Sanuwave is a US medical device company with a clinically differentiated wound-healing product and an underpenetrated market. My thesis required >40% revenue growth in 2026 (with all the stars aligning), with high incremental margins amplifying the top-line inflection. Q1 guidance narrowed the full year to 16-25% growth, materially below my thesis and closer to my bear case (a "jam tomorrow" story). I sold with shares down 10% on the day and 30% from purchase.”
Sanuwave Health - June 2026
“Sanuwave - when the thesis breaks Sanuwave is a US medical device company with a clinically differentiated wound-healing product and an underpenetrated market. My thesis required >40% revenue growth in 2026 (with all the stars aligning), with high incremental margins amplifying the top-line inflection. Q1 guidance narrowed the full year to 16–25% growth, materially below my thesis and closer to my bear case (a “jam tomorrow” story). I sold with shares down 10% on the day and 30% from purchase. The shares continued to fall especially with 2 further downgrades in recent months.”
Sanuwave Health - ExitedSRK CapitalJune 2026
“Sanuwave Health, Inc. (SNWV) During the first half of the year, we fully exited our position in Sanuwave Health (SNWV).”
Sanuwave Health
Fund coverage · 5 theses
- Deep Sail Capital Partners LPSeptember 2026
Sanuwave Health is a wound-care company whose stock reflects a potentially severe CMS reimbursement cut, but the manager believes the final cut may be smaller than the market expects.
Read the full thesis - Cedar GroveMarch 2026
Sanuwave Health offers an ultrasound wound-care device poised to benefit from CMS policy shifts, a refinancing, and a long runway.
Read the full thesis - Deep Sail CapitalDecember 2025
Sanuwave Health, Inc. is a specialty medical device company leveraging a high-margin recurring model, strong IP and leadership, and favorable reimbursement tailwinds to drive multi-year growth at an attractive valuation.
Read the full thesis - Infuse AMDecember 2025
Sanuwave sells a razor-and-blades UltraMist wound-care device, is led by a capital-allocation savvy CEO, and offers >30% growth with improved debt terms at a reasonable ~18x forward EBIT.
Read the full thesis - SRK CapitalSeptember 2025
Sanuwave Health, Inc. is experiencing rapid growth with a 51% revenue increase, a new national sales force, and an imminent Nasdaq uplisting, making its shares an attractive investment opportunity.
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