Merit Medical Founder Fred Lampropoulos Steps Down as Chair: A Major Leadership Shift
Fred P. Lampropoulos informed the Board of Directors of his resignation as a director and Chair of the Board on January 4, 2026, marking the end of an extraordinary era for Merit Medical Systems. After building the company from a startup in 1987 to a global healthcare technology leader generating nearly $1.5 billion in annual revenue, this Merit Medical leadership transition represents one of the most significant changes in the medical device industry this year.
The timing of this announcement coincides with Merit Medical Founder Fred Lampropoulos reaching the conclusion of his planned succession timeline. This followed the conclusion of Mr. Lampropoulos’ employment as Executive Chair of the Board on January 3, 2026 pursuant to the Company’s CEO Transition Agreement, and his resignation as Merit’s President and Chief Executive Officer on October 3, 2025.
The Succession: F Ann Millner New Merit Medical Chair Takes the Helm
Merit’s Board of Directors unanimously appointed F. Ann Millner, Ed.D., formerly Merit’s Lead Independent Director, as Chair of the Board effective January 5, 2026. Dr. Millner brings a wealth of governance experience to this critical role. She has served as a director of Merit since 2015 and as the Lead Independent Director since July 2021.
Beyond her corporate leadership, F Ann Millner new Merit Medical chair also wears multiple hats in public service. Dr. Millner currently serves as a member of the Utah State Senate, to which she was elected in 2015. Her academic credentials are equally impressive. She served as the President of Weber State University from 2002 through 2012 and as the Regents Professor and Professor of Health Administrative Services at Weber State University from 2013 through 2025.
This Merit Medical board changes announcement brings fresh perspective to the company’s governance structure while maintaining institutional knowledge through continuity.
Fred Lampropoulos Merit Medical Resignation: Not a Departure, But a Transition
The Fred Lampropoulos Merit Medical resignation should not be interpreted as a sudden exit. Rather, it represents the final phase of a carefully orchestrated succession plan. Lampropoulos and Merit have entered into a consulting agreement through March 31, 2026, ensuring continued strategic guidance during this transitional period.
In his own words reflecting on his departure, “As I step down after 38 years since founding Merit, I am proud of how far we’ve come and believe the company is stronger than ever,” said Mr. Lampropoulos. This sentiment underscores that Fred Lampropoulos leaves Merit Medical at a position of strength, not weakness.
Mr. Lampropoulos’ resignation is not the result of a dispute or disagreement with Merit’s management or Board of Directors, nor any matter related to Merit’s financial reporting, internal controls, operations, policies, or business practices. The company made this clarification to reassure investors and stakeholders about the amicable nature of this leadership change.
The Legacy of Merit Medical Founder Fred Lampropoulos
Mr. Lampropoulos founded Merit Medical in 1987 on a single innovation: a stronger, safer, disposable syringe. From that humble beginning, he transformed the organization into a powerhouse. Merit is now a leading manufacturer and marketer of proprietary disposable devices, holding over 800 patents and pending applications that represent thousands of inventions used in diagnostic, interventional, and therapeutic procedures worldwide.
His inventive mind personally contributed significantly to the company’s intellectual property portfolio. Lampropoulos is also an active inventor, and holds more than 240 patents for devices used in the diagnostic and therapeutic treatment of cardiovascular disease. These innovations have directly impacted patient care across multiple medical disciplines.
The Fred Lampropoulos Merit Medical chair exit comes after decades of industry recognition. He was inducted into the University of Utah College of Science Hall of Fame, the Utah Business Hall of Fame, and the Utah Technology Hall of Fame. Mr. Lampropoulos has also been the recipient of several awards and honors, including the MWCN 2019 Entrepreneur of the Year Award.
Financial Performance Amid Merit Medical Leadership Transition
Despite the significant Merit Medical board changes, the company’s financial trajectory remains strong. Merit reported preliminary unaudited Q4 2025 revenue of $389 million to $395 million, up approximately 10%–11% year‑over‑year. This robust performance demonstrates that the Merit Medical leadership transition has not disrupted business operations.
Looking at the broader financial picture, Merit Medical generated impressive revenue growth throughout 2025. Merit Medical Systems revenue for the twelve months ending September 30, 2025 was $1.477B, a 11.41% increase year-over-year. This double-digit growth validates the strategic planning behind the leadership succession.
The company’s market position also remains solid. The current market capitalization of Merit Medical Systems is $4.9B. The trailing twelve month revenue for Merit Medical Systems is $1.48B.
New CEO Martha Aronson’s Role in the Leadership Equation
Before Fred Lampropoulos steps down from the board, the company had already appointed new operational leadership. Merit announced the appointment of Martha Aronson as Merit’s new President and Chief Executive Officer, effective October 3, 2025. Fred P. Lampropoulos will remain as Chairman of the Board, President and CEO of Merit through October 3, 2025.
Aronson brings substantial healthcare industry experience. Martha Aronson was appointed President and Chief Executive Officer of Merit Medical Systems, Inc., in October 2025, and has extensive experience in healthcare, including overseeing global healthcare businesses ranging in size from $500 million to $1 billion.
The staggered transition—with Aronson assuming CEO duties in October 2025 while Fred Lampropoulos leaves Merit Medical board in January 2026—allowed for a smoother handover of responsibilities.
What the Fred Lampropoulos Merit Medical Chair Exit Means for the Industry
This Fred Lampropoulos Merit Medical chair exit represents more than just a personnel change. It signals a generational shift in medical device leadership. “Fred’s vision and leadership have been instrumental in building Merit into the global healthcare company it is today,” said Dr. Millner. “On behalf of the Board and the entire organization, I want to express our gratitude for his decades of service and commitment to improving patient care”.
The medical device industry has watched closely as Merit Medical navigated this succession process. The company announced its CEO succession planning back in December 2023, demonstrating transparency and thoughtful preparation.
Strategic Direction Following Merit Medical Board Changes
Despite the leadership transformation, Merit Medical’s strategic priorities remain clear. Merit remains focused on strong execution towards achievement of our Continued Growth Initiatives and related financial targets for the three-year period ending December 31, 2026 and delivering value to our customers, employees, and shareholders.
The company continues to expand its product portfolio and global footprint. Merit has continually expanded over the years, adding facilities around the globe. In addition to the United States, Merit Medical can be found in the Netherlands, France, Ireland, China, Mexico, Brazil, Canada, Australia, Japan, and Singapore, employing approximately 6,000 people.
Looking Ahead: The Post-Lampropoulos Era at Merit Medical
The transition period through March 2026 provides continuity during this critical juncture. With Fred Lampropoulos Merit Medical resignation from the board finalized and his consulting arrangement in place, the company maintains access to his institutional knowledge while empowering new leadership.
Dr. Millner’s appointment brings governance expertise and an independent perspective that will serve Merit Medical well. Her background in higher education administration, healthcare policy through her senate work, and years of board service position her uniquely to guide the organization through this next chapter.
For investors and stakeholders, the Merit Medical leadership transition demonstrates corporate maturity and succession planning best practices. Rather than an abrupt change, this represents a methodical, well-communicated evolution that prioritizes long-term stability.
Key Takeaways from This Historic Leadership Change
Business continuity: The staggered transition from CEO to Chair to consultant ensures knowledge transfer and strategic consistency.
Strong financial position: Q4 2025 preliminary revenue results demonstrate the company’s momentum remains intact despite leadership changes.
Experienced new leadership: Both Martha Aronson as CEO and F. Ann Millner as Board Chair bring complementary skills and extensive healthcare industry experience.
Founder’s legacy preserved: The consulting agreement ensures Lampropoulos can contribute strategic insights while allowing new leaders to chart their course.
No operational disruptions: The company emphasized that this resignation stems from planned succession, not any disputes or operational concerns.
The Broader Impact on Medical Device Manufacturing
This Fred Lampropoulos Merit Medical chair exit reflects broader industry trends toward planned succession in founder-led medical device companies. As the generation that built many of today’s leading medical technology firms reaches retirement age, thoughtful transitions become increasingly important for market stability.
Merit Medical’s approach—transparent communication, extended timelines, and maintaining founder involvement through consulting—may serve as a template for other medical device companies facing similar generational leadership changes. The company’s ability to maintain strong financial performance throughout this transition reinforces the value of strategic succession planning.
For healthcare providers and patients who rely on Merit Medical’s products, this leadership change should bring confidence rather than concern. The company’s commitment to innovation, quality, and customer service appears well-positioned to continue under new leadership while honoring the foundation Fred Lampropoulos built over nearly four decades.
Frequently Asked Questions
When did Fred Lampropoulos step down as Merit Medical chair?
Fred Lampropoulos resigned as director and Chair of the Board on January 4, 2026, with his resignation becoming effective on January 5, 2026, when F. Ann Millner assumed the Chair position.
Who replaced Fred Lampropoulos as Merit Medical board chair?
F. Ann Millner, Ed.D., who previously served as Merit’s Lead Independent Director since July 2021, was unanimously appointed by the Board as the new Chair of the Board effective January 5, 2026.
Did Fred Lampropoulos completely leave Merit Medical?
No, Fred Lampropoulos entered into a consulting agreement with Merit Medical that runs through March 31, 2026, allowing him to continue providing strategic guidance during the transition period.
Why did Fred Lampropoulos resign from Merit Medical’s board?
The resignation was part of a planned succession process and was not the result of any dispute or disagreement with management or the Board. It followed the conclusion of his employment as Executive Chair on January 3, 2026, and his earlier resignation as President and CEO on October 3, 2025.
How long did Fred Lampropoulos lead Merit Medical?
Fred Lampropoulos founded Merit Medical in 1987 and served as Chair, CEO, and President for 38 years until October 2025, then continued as Executive Chair through January 2026 before stepping down from the board.
What is Merit Medical’s financial performance during this leadership transition?
Merit Medical reported strong preliminary
Who is the current CEO of Merit Medical Systems?
Martha Aronson serves as Merit Medical’s President and Chief Executive Officer, having been appointed to this position effective October 3, 2025. She brings extensive healthcare industry experience from leading global businesses with revenues ranging from $500 million to $1 billion.
