Paul Singer’s Elliott Management Ups Stake In CorMedix Inc. (CRMD)

The latest Elliott Management filing also indicated that CorMedix Inc. (NYSEMKT:CRMD)’s board of directors recently appointed Janet M. Dillione as a Director. She will hold this position until the company’s 2016 annual meeting of stockholders. Ms. Dillione’s appointment was made upon the request of Manchester Securities Corp., which partially exercised its right to appoint up to two members to the company’s board of directors. Manchester holds the board appointment rights pursuant to a letter agreement between the company and Manchester, and was entered into as part of the backstop financing made available to CorMedix Inc. (NYSEMKT:CRMD) by Manchester in March 2015. Ms. Dillione will be an independent director and will not be acting or serving as Manchester’s representative on the board. She has more than 25 years of experience leading global teams in the development and delivery of healthcare technology and services. Ms. Dillione has served as chief executive officer (CEO) of Cardiopulmonary Corp. since May 2014, CorMedix Inc. (NYSEMKT:CRMD) said in a news release.

The performance of CorMedix Inc. (NYSEMKT:CRMD) has been impressive. Shares of the company have increased by 47.57% year-to-date. Among the investors we track who have enjoyed the strong performance are Israel Englander’s Millennium Management, which held 361,329 shares of CorMedix Inc. (NYSEMKT:CRMD) as of the end of March. Another investor that sees value in CorMedix Inc. (NYSEMKT:CRMD) is Jim Simons’ Renaissance Technologies, which initiated a position in the company during the first quarter, holding 47,600 shares as of March 31.

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