Post by icemandios on Mar 22, 2022 23:24:59 GMT
OraSure Director Nancy Gagliano Selected to Serve as Interim Chief Executive Officer; Brings Extensive Diagnostics and Healthcare Leadership Experience to Role
Board Continues Search for Permanent CEO
Evaluation of Strategic Alternatives Ongoing
BETHLEHEM, Pa., March 22, 2022 (GLOBE NEWSWIRE) -- 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 Gagliano
Dr. 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 Technologies
OraSure 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 .
Board Continues Search for Permanent CEO
Evaluation of Strategic Alternatives Ongoing
BETHLEHEM, Pa., March 22, 2022 (GLOBE NEWSWIRE) -- 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 Gagliano
Dr. 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 Technologies
OraSure 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 .