A blood pump has an impeller rotatably disposed and magnetically suspended within a cavity of a stator by a plurality of magnetic bearings (passive permanent and active electromagnetic) having impeller magnets on the impeller and stator magnets or coils/poles on the stator. A motor includes impeller magnets on the impeller and coils/poles associated with the stator. A single, annular blood flow path extends axially through the cavity between the impeller and the stator, and between the impeller magnets on the impeller and the stator magnets or the coils/poles on the stator.