OraSure Director Nancy Gagliano Selected to Serve as Interim Chief Executive Officer; Brings Extensive Diagnostics and Healthcare Leadership Experience to Role
23 3월 2022 - 5:05AM
OraSure Technologies, Inc. (NASDAQ: OSUR), a leader in
point-of-care and home diagnostic tests, specimen collection
devices, and microbiome laboratory and analytical services, today
announced that its Board of Directors (the “Board”) has appointed
Nancy Gagliano, MD to serve as interim Chief Executive Officer,
effective April 1, 2022. Dr. Gagliano is not a candidate for the
permanent CEO position. As previously announced, Stephen Tang
Ph.D., President and CEO, will be the leaving the Company as of
March 31, 2022. The Board’s search for a permanent CEO is actively
underway.
Dr. Gagliano, a member of the OraSure Board
since November 2021, brings extensive leadership experience in the
diagnostics and healthcare industries to this role, including
recent service as an executive leader of the National Institute of
Health’s RADx Tech, a program focused on speeding the development,
validation, and commercialization of innovative point-of-care and
over-the-counter tests that can directly detect the COVID-19 virus.
Dr. Gagliano, previously a practicing physician, has also held
senior leadership positions at CVS Health, including as Chief
Medical Officer of Minute Clinic.
“With decades of leadership in the diagnostics
and healthcare industries, including helping to oversee the
government’s widescale efforts to accelerate the development and
commercialization of diagnostic tests for COVID-19, Nancy is
well-suited to serve as interim CEO at OraSure,” said OraSure
Chairman of the Board Michael Celano. “As she has demonstrated
since joining the OraSure Board, Nancy is an engaged and thoughtful
leader. In her new role, she will work closely to support Lisa
Nibauer, President of Diagnostics, and Kathleen Weber, President of
Molecular Solutions, and other members of the leadership team as we
continue to focus on scaling the business and driving profitable
growth.”
He continued, “The Board and senior leadership
team continue to evaluate available strategic alternatives to
maximize stockholder value and prepare for an orderly transition to
a new CEO. We appreciate Steve’s contributions and wish him well in
his future activities.”
On January 5, 2022, the Company announced its
intent to explore and evaluate a broad range of strategic
alternatives – this comprehensive Board-led review is ongoing.
There can be no assurance that the exploration of strategic
alternatives will result in any agreements or transactions, or
that, if completed, any agreements or transactions will be
successful or on attractive terms.
About Nancy GaglianoDr.
Gagliano has been a member of the OraSure Board since November 2021
and currently serves on the Nominating and Corporate Governance
Committee. Since July 2020, she has served as Managing Director at
Granite Healthcare Advisors. From May 2020 to November 2021, Dr.
Gagliano served as an executive leader of the National Institute of
Health’s Rapid Acceleration of Diagnostics (RADx Tech) program,
helping to oversee more than $1 billion of sponsored programs to
bring millions of new COVID-19 tests to market. She previously
served as Chief Medical Officer of Culbert Healthcare Solutions,
providing strategic guidance on healthcare consulting services. Dr.
Gagliano has also held senior leadership positions at CVS Health,
including as Chief Medical Officer of Minute Clinic, and as a
Senior Vice President overseeing key programs such as the
enterprise smoking cessation program and the development of the
company’s telemedicine program. Dr. Gagliano previously was a
practicing physician in internal medicine and held numerous
leadership positions at Massachusetts General Hospital and
Massachusetts General Physicians Organization. She holds a MD from
Harvard Medical School, an MBA from Northeastern University, and a
BS in Computer Science and Biology from Union College.
About OraSure
TechnologiesOraSure Technologies empowers the global
community to improve health and wellness by providing access to
accurate, essential information. OraSure, together with its
wholly-owned subsidiaries, DNA Genotek, Diversigen, and Novosanis,
provides its customers with end-to-end solutions that encompass
tools, services and diagnostics. The OraSure family of companies is
a leader in the development, manufacture, and distribution of rapid
diagnostic tests, sample collection and stabilization devices, and
molecular services solutions designed to discover and detect
critical medical conditions. OraSure’s portfolio of products is
sold globally to clinical laboratories, hospitals, physician’s
offices, clinics, public health and community-based organizations,
research institutions, government agencies, pharma, commercial
entities and direct to consumers. For more information on OraSure
Technologies, please visit www.orasure.com.
Important InformationThis press
release contains certain forward-looking statements, including with
respect to the Company’s exploration of strategic alternatives,
products, product development activities, regulatory submissions
and authorizations and other matters. Forward-looking statements
are not guarantees of future performance or results. Known and
unknown factors that could cause actual performance or results to
be materially different from those expressed or implied in these
statements include, but are not limited to: risk that the Company's
exploration of strategic alternatives may not result in any
definitive transaction or enhance stockholder value and may create
a distraction or uncertainty that may adversely affect operating
results, business or investor perceptions; the diversion of
management’s attention from the Company's ongoing business and
regular business responsibilities due to the Company's exploration
of strategic alternatives; ability to resolve the Company's ongoing
manufacturing challenges and satisfy customer demand; ability to
market and sell products, whether through our internal, direct
sales force or third parties; impact of significant customer
concentration in the genomics business; failure of distributors or
other customers to meet purchase forecasts, historic purchase
levels or minimum purchase requirements for our products; ability
to manufacture products in accordance with applicable
specifications, performance standards and quality requirements;
ability to obtain, and timing and cost of obtaining, necessary
regulatory approvals for new products or new indications or
applications for existing products; ability to comply with
applicable regulatory requirements; ability to effectively resolve
warning letters, audit observations and other findings or comments
from the U.S. Food and Drug Administration (“FDA”) or other
regulators; the impact of the novel coronavirus (“COVID-19”)
pandemic on the Company's business and ability to successfully
develop new products, validate the expanded use of existing
collector products, receive necessary regulatory approvals and
authorizations and commercialize such products for COVID-19
testing; changes in relationships, including disputes or
disagreements, with strategic partners or other parties and
reliance on strategic partners for the performance of critical
activities under collaborative arrangements; ability to meet
increased demand for the Company’s products; impact of replacing
distributors; inventory levels at distributors and other customers;
ability of the Company to achieve its financial and strategic
objectives and continue to increase its revenues, including the
ability to expand international sales; impact of competitors,
competing products and technology changes; reduction or deferral of
public funding available to customers; competition from new or
better technology or lower cost products; ability to develop,
commercialize and market new products; market acceptance of oral
fluid or urine testing, collection or other products; market
acceptance and uptake of microbiome informatics, microbial genetics
technology and related analytics services; changes in market
acceptance of products based on product performance or other
factors, including changes in testing guidelines, algorithms or
other recommendations by the Centers for Disease Control and
Prevention (“CDC”) or other agencies; ability to fund research and
development and other products and operations; ability to obtain
and maintain new or existing product distribution channels;
reliance on sole supply sources for critical products and
components; availability of related products produced by third
parties or products required for use of our products; impact of
contracting with the U.S. government; impact of negative economic
conditions; ability to maintain sustained profitability; ability to
utilize net operating loss carry forwards or other deferred tax
assets; volatility of the Company’s stock price; uncertainty
relating to patent protection and potential patent infringement
claims; uncertainty and costs of litigation relating to patents and
other intellectual property; availability of licenses to patents or
other technology; ability to enter into international manufacturing
agreements; obstacles to international marketing and manufacturing
of products; ability to sell products internationally, including
the impact of changes in international funding sources and testing
algorithms; adverse movements in foreign currency exchange rates;
loss or impairment of sources of capital; ability to attract and
retain qualified personnel; exposure to product liability and other
types of litigation; changes in international, federal or state
laws and regulations; customer consolidations and inventory
practices; equipment failures and ability to obtain needed raw
materials and components; the impact of terrorist attacks and civil
unrest; and general political, business and economic conditions.
These and other factors that could affect our results are discussed
more fully in our SEC filings, including our registration
statements, Annual Report on Form 10-K for the year ended December
31, 2021, Quarterly Reports on Form 10-Q, and other filings with
the SEC. Although forward-looking statements help to provide
information about future prospects, readers should keep in mind
that forward-looking statements may not be reliable. Readers are
cautioned not to place undue reliance on the forward-looking
statements. The forward-looking statements are made as of the date
of this press release and OraSure Technologies undertakes no duty
to update these statements.
Investor Contact: |
Media Contact: |
Scott Gleason |
Michael Freitag or Adam Pollack |
SVP Investor Relations & Corporate Communications |
Joele Frank |
484-425-0588 |
212-355-4449 |
sgleason@orasure.com |
media@orasure.com |
OraSure Technologies (NASDAQ:OSUR)
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