DNAnexus Adds Jeff Margolis to Board of Directors

Rhea-AI Summary

DNAnexus announced the appointment of Jeff Margolis to its Board of Directors. Margolis, a veteran in healthcare technology, has extensive experience in guiding companies from startup to leadership. His role follows DNAnexus securing $200 million in funding led by Blackstone (NYSE:BX). Margolis aims to leverage his expertise to enhance the company's platform for biomedical research, enabling significant advancements in multi-omic data analytics. CEO Richard Daly expressed confidence in Margolis' ability to drive global adoption of their innovative solutions.

Positive

• Appointment of Jeff Margolis expected to bring fresh perspectives and leadership.
• Secured $200 million funding to support growth and innovation in healthcare technology.

Negative

• Concerns about continuity and potential experience gaps with new board member.

Industry veteran brings longstanding track record of growing innovative healthcare technology and service organizations from early-stage startup through category leadership

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- DNAnexus, Inc., the leader in biomedical informatics and data management, today announced the appointment of Jeff Margolis, a seasoned healthcare information technology executive and current Senior Advisor for Blackstone (NYSE:BX), to its Board of Directors. The appointment follows the company’s $200 million financing round, which was led by Blackstone.

“DNAnexus is already an exciting company at the intersection of healthcare and life sciences and the recent Blackstone investment will support the goal of becoming a category leader. The company’s cloud-based platform is driving the world’s largest biomedical research projects and enabling scientists to translate complex clinical, multi-omic, and phenotypic data into tangible insights for research and personalized medicine,” said Mr. Margolis. “I’m looking forward to working with the talented management team and helping them empower customers with the tools to apply very large multi-omic data analytics to drive the next wave in digital transformation.”

“We’re thrilled to welcome Jeff to our Board of Directors. He is a passionate leader with a proven track record of commercializing innovative healthcare technologies that solve urgent and complex healthcare challenges,” said Richard Daly, CEO at DNAnexus. “His advice and perspective will be invaluable as we look to drive the global adoption of our leading platform and position the company for long-term success.”

Mr. Margolis’ extensive industry experience includes 20 years as the CEO and/or chairman and another decade as a chief information and technology officer at publicly traded and private healthcare technology companies. He most recently served as the Chairman and CEO at Welltok, Inc., where he led the company from a pre-revenue startup to a leading enterprise consumer activation company. Before joining Welltok, Inc., Mr. Margolis founded and spent 14 years as CEO and Chairman of TriZetto Corporation, the first vertical SaaS enterprise software company.

Mr. Margolis currently serves as Chairman at NextGen Healthcare (NASDAQ:NXGN), Vice Chairman at TriNetX, and as a board member at Alignment Healthcare (NASDAQ: ALHC), Hydrogen Health, and Grin. He serves as Chairman for the Hoag Clinic and the University of California at Irvine’s Center for Digital Transformation. Mr. Margolis is a leadership fellow with the National Association of Corporate Directors and a member of the American Institute of Certified Public Accountants with a Certified Global Management Accountant designation. He holds a bachelor of science degree with high honors in business administration–management information systems from the University of Illinois at Urbana-Champaign.

About DNAnexus

DNAnexus is a leading provider of secure, scalable, and intuitive biomedical data analysis software and bioinformatics applications for the life sciences and healthcare communities. The company actively manages and supports more than 65 petabytes of complex genomic, multi-omic, and clinical datasets on behalf of a growing network of collaborations with large-scale biobanks, as well as leading pharmaceutical, clinical diagnostic, academic research, and government organizations. Scientists across 48 countries are now using the highly collaborative, cloud-based, end-to-end platform to gain data-driven insights that can advance scientific discovery, accelerate precision medicine, and improve patient care. For more information on DNAnexus, please visit www.dnanexus.com or follow the company @DNAnexus.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221021005048/en/

Andrew Noble

415-722-2129

andrew@bioscribe.com

Source: DNAnexus, Inc.

FAQ

Who is Jeff Margolis and what is his role at DNAnexus?

Jeff Margolis is a seasoned healthcare information technology executive appointed to the Board of Directors at DNAnexus to help drive innovation and growth following the company's recent funding.

What impact will Jeff Margolis' appointment have on DNAnexus?

Margolis' extensive experience in healthcare technology could enhance DNAnexus' strategic direction and innovation, positioning the company for long-term success.

How much funding did DNAnexus secure and who led the investment?

DNAnexus secured $200 million in funding, led by Blackstone (NYSE:BX).

What is the significance of DNAnexus' cloud-based platform?

The cloud-based platform supports large biomedical research projects and facilitates complex data analytics for personalized medicine and scientific discovery.

What companies does Jeff Margolis currently serve as a board member?

Jeff Margolis is currently involved with NextGen Healthcare (NASDAQ:NXGN), Alignment Healthcare (NASDAQ:ALHC), and other organizations.