CARLSBAD, Calif., Feb. 10, 2020 (GLOBE NEWSWIRE) -- GenMark Diagnostics, Inc. (NASDAQ: GNMK), a leading provider of automated, multiplex molecular diagnostic testing systems, today announced that Scott Mendel, Chief Operating Officer, has been appointed Interim President and Chief Executive Officer effective immediately. Hany Massarany has stepped down as President and CEO and as a member of the company’s Board of Directors, effective immediately. A search has commenced to identify a permanent CEO.
Concurrently Kevin O’Boyle has been appointed Chairman of the Board and James Fox, PhD., GenMark’s prior Chairman, will remain on the Board as a non-executive director.
“On behalf of the entire Board of Directors, I would like to thank Hany for his leadership throughout his tenure at GenMark. He led the company through multiple pivotal phases of growth including the FDA approval and launch of both the XT-8 and ePlex systems and their corresponding assays. Today the company stands well positioned to take share in a rapidly growing market,” said Kevin O’Boyle Chairman of the GenMark Board of Directors. “We are confident that Scott’s experience at the company and track record leading its financial, manufacturing and product development organizations will provide a seamless transition.”
“I am confident that we have the right technology, strategy, and team in place at GenMark to be the leader in rapid multiplex molecular testing,” added Scott Mendel, President and Interim Chief Executive Officer. “In the upcoming year, we will continue to drive sustainable revenue growth, gross margin expansion and improved profitability.”
Mendel has served as GenMark’s Chief Operating Officer since February 2019. Previously, he served as Chief Financial Officer since joining the company in 2014. Prior to joining GenMark, Mendel held various roles of increasing responsibility at The Active Network and GE Healthcare. He received a B.S. in finance from Indiana University and an M.B.A. from Northwestern University’s Kellogg School of Management.
Fourth Quarter and Fiscal Year 2019 Financial Results
GenMark plans to release its fourth quarter and fiscal year 2019 results after market close on Monday, March 2, 2020. Management will host a conference call to review the company's financial performance and guidance for 2020 starting at 4:30 p.m. ET on the same day.
About GenMark Diagnostics
GenMark Diagnostics (NASDAQ: GNMK) is a leading provider of multiplex molecular diagnostic solutions designed to enhance patient care, improve key quality metrics, and reduce the total cost-of-care. Utilizing GenMark's proprietary eSensor® detection technology, GenMark's eSensor XT-8® and ePlex® systems are designed to support a broad range of molecular diagnostic tests with compact, easy-to-use workstations and self-contained, disposable test cartridges. GenMark’s ePlex: The True Sample-to-Answer Solution™ is designed to optimize laboratory efficiency and address a broad range of infectious disease testing needs, including respiratory, bloodstream, and gastrointestinal infections. For more information, visit www.genmarkdx.com.
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Source: GenMark Diagnostics, Inc.