iSpecimen Appoints Joseph J. Basile to Board of Directors
iSpecimen Inc. (Nasdaq: ISPC) has appointed Joseph J. Basile to its Board of Directors effective November 28, 2022, replacing Margaret H. Lawrence. Mr. Basile is a strategic advisor with extensive expertise in mergers, acquisitions, and corporate governance. His experience spans various sectors including life sciences and technology. Tracy Curley, Interim CEO, highlighted Mr. Basile's role in enhancing iSpecimen's M&A strategy. The company aims to leverage his skills to optimize stakeholder outcomes as it navigates significant operational transitions.
- Appointment of Joseph J. Basile enhances leadership with expertise in M&A and governance.
- Expectations for improved stakeholder outcomes due to Basile's negotiation and mediation skills.
- Transition in leadership may introduce uncertainty in business operations.
Sought-After Strategic Advisor Brings Expertise in Mergers and Acquisitions, Restructuring and Governance to iSpecimen
LEXINGTON, Mass., Dec. 05, 2022 (GLOBE NEWSWIRE) -- iSpecimen Inc. (Nasdaq: ISPC) (“iSpecimen” or the “Company”), an online global marketplace that connects scientists in need of biospecimens for medical research with a network of healthcare specimen providers, announced today that the Company has appointed Joseph J. Basile to iSpecimen’s Board of Directors (the “Board”), as well as the audit committee and the nominating and corporate governance committee of the Company, effective November 28, 2022. Mr. Basile is replacing Margaret H. Lawrence as an independent director.
Mr. Basile is a sought-after strategic advisor, an accomplished business leader, a skilled negotiator, a trained mediator and a recognized expert in mergers and acquisitions, restructuring and governance. His extensive experience in a wide range of complex corporate matters, his ability to function well in circumstances involving high stress and ambiguity, and his track record in successfully leading teams and in achieving consensus among individuals holding diverse views make him a valuable addition to the Board. Mr. Basile has assisted hundreds of boards and C-suite executives in optimizing outcomes for stakeholders.
“iSpecimen is excited to have Mr. Basile join our Board. Joe brings significant knowledge in M&A, restructuring, governance, and financial acumen to iSpecimen. Joe’s strength in leading and guiding Board room dialogue is key to unlocking our larger M&A strategy. We look forward to Joe’s contributions as iSpecimen continues to execute upon its business strategy,” said Tracy Curley, Interim CEO and CFO of iSpecimen. “Additionally, we thank Margaret for her expert advice and support of the Company during her time on the Board.”
Mr. Basile has advised global Fortune 500 companies, mid-market public companies, private equity and venture capital backed companies, and family-owned companies. His experience includes work in the technology, life sciences, professional services, and education sectors. He is the founder and managing director of Pari Passu M&A Mediation, LLC, an alternative dispute resolution firm that works exclusively on the mediation of M&A-related disputes. He is also a Senior Advisor at Hogan Lovells US LLP, a global law firm, providing strategic advice to the firm and its clients regarding business development, M&A, restructuring and governance matters. Mr. Basile earned his JD from Harvard Law School and his AB from Stonehill College. He has also trained in mediation at the Harvard Law School Program on Negotiation executive education program.
“It is a critical time for iSpecimen as the Company transitions to new leadership and takes a hard look at the business operations. I am excited by iSpecimen’s near- and long-term business initiatives and believe that I can play a valuable role in advising Tracy and the iSpecimen team as they progress forward,” added Mr. Basile.
About iSpecimen
iSpecimen (Nasdaq: ISPC) offers an online marketplace for human biospecimens, connecting scientists in commercial and non-profit organizations with healthcare providers that have access to patients and specimens needed for medical discovery. Proprietary, cloud-based technology enables scientists to intuitively search for specimens and patients across a federated partner network of hospitals, labs, biobanks, blood centers and other healthcare organizations. For more information, please visit www.ispecimen.com.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are characterized by future or conditional verbs such as "may," "will," "expect," "intend," "anticipate," believe," "estimate" and "continue" or similar words. You should read statements that contain these words carefully because they discuss future expectations and plans, which contain projections of future results of operations or financial condition or state other forward-looking information.
Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to the risks factors contained in the Company's filings with the Securities and Exchange Commission, which are available for review at www.sec.gov. Forward-looking statements speak only as of the date they are made. New risks and uncertainties arise over time, and it is not possible for the Company to predict those events or how they may affect the Company. If a change to the events and circumstances reflected in the Company's forward-looking statements occurs, the Company's business, financial condition and operating results may vary materially from those expressed in the Company's forward-looking statements.
Readers are cautioned not to put undue reliance on forward-looking statements, and the Company assumes no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
For further information, please contact:
Investor Contact
KCSA Strategic Communications
Allison Soss
iSpecimen@kcsa.com
Media Contacts
KCSA Strategic Communications
Raquel Cona / Shana Marino
iSpecimen@kcsa.com
FAQ
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