PARSIPPANY, N.J., April 2, 2014 /PRNewswire/ -- PDI, Inc. (Nasdaq: PDII), a market leader in healthcare product commercialization and integrated marketing services, has hired Greg Richard as General Manager for its Interpace Diagnostics subsidiary. Richard will be responsible for evolving and driving the execution of PDI's molecular diagnostics growth strategy.
Molecular Diagnostics Industry Veteran Greg Richard Joined PDI, Inc. as General Manager, Interpace Diagnostics, on April 2, 2014.
"Molecular Diagnostics is a fast-growing market that represents a significant opportunity for PDI," said Nancy Lurker, chief executive officer of PDI, Inc. "Greg's dynamic experience in developing strategy, driving revenue growth and his relationships with payers in molecular diagnostics is exactly what we sought to help PDI execute our long term strategic vision."
Mr. Richard has more than 20 years of successful experience in sales, marketing and managed care with life science companies ranging from Fortune 500 to small, privately held organizations. He joins PDI from Strata Pathology Services, where he restructured and grew the anatomical pathology sales organization and worked to expand the Company's geographic presence.
He was previously Executive Vice President of Sales and Marketing at Signal Genetics, a New York-based start-up molecular diagnostics company, where he built a new sales team and launched the company's two proprietary molecular oncology tests. Earlier in his career, Richard was Northeast Vice President of Sales for LabCorp, with responsibility for physician sales of the company's routine and molecular diagnostics (esoteric) testing services and a team of 150 reps with $1 billion in revenues, and spent eight years with Quest Diagnostics where he reached the level of Vice President, Health Plan and Payor Markets.
Mr. Richard will oversee Interpace Diagnostics' operations, business development, sales and marketing functions. His responsibilities include the identification and establishment of new molecular diagnostics commercialization partnerships and managed care strategy development, and he will be a member of PDI's Executive Committee.
"I was impressed by PDI's leadership and its smart model for leveraging its infrastructure and commercialization expertise in partnership with emerging companies," said Mr. Richard. "PDI's mix of sales, integrated marketing and physician engagement know-how is a powerful combination, and I look forward to putting them to work on behalf of our molecular diagnostics partners."
About PDI, Inc.
PDI is reshaping the way pharmaceutical, biotech, medical device and diagnostics companies reach and engage customers, commercialize products and manage their portfolios. The company is dedicated to enhancing engagement with health care practitioners and optimizing commercial investments for its clients by providing strategic flexibility, full product commercialization services, innovative multi-channel promotional solutions, and sales and marketing expertise.
Through its Interpace Diagnostics subsidiary, the company is working to develop and commercialize molecular diagnostic tests. For more information, please visit the company's website at http://www.pdi-inc.com.
Forward-Looking Statements
This press release contains forward-looking statements regarding future events and financial performance. These statements are based on current expectations and assumptions involving judgments about, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond PDI's control. These statements also involve known and unknown risks, uncertainties and other factors that may cause PDI's actual results to be materially different from those expressed or implied by any forward-looking statement. For example, with respect to statements regarding projections of future revenues, growth and profitability, estimated gross profit and anticipated internal rate of return on investments actual results may differ materially from those set forth in this release based on the loss, early termination or significant reduction of any of our existing service contracts, the failure to meet performance goals in PDI's incentive-based arrangements with customers, the inability to secure additional business or our inability to develop more predictable, higher margin business through in-licensing or other means. Additionally, all forward-looking statements are subject to the risk factors detailed from time to time in PDI's periodic filings with the Securities and Exchange Commission, including without limitation, PDI's previously filed Annual Report on Form 10-K for the year ended December 31, 2013 and current reports on Forms 10-Q and Forms 8-K. Because of these and other risks, uncertainties and assumptions, undue reliance should not be placed on these forward-looking statements. In addition, these statements speak only as of the date of this press release and, except as may be required by law, PDI undertakes no obligation to revise or update publicly any forward-looking statements for any reason.