Precipio to expand its reach globally
NEW HAVEN, CT, (April 18, 2019) - Specialty diagnostics company Precipio, Inc. (NASDAQ: PRPO) announced today that Mr. Ori Karev has joined the company as its Chief Strategy Officer. Ori was formerly CEO of UnitedHealthcare Global, the International division of United Healthcare, the world’s largest health insurance provider. Under Ori’s leadership, UnitedHealthcare Global expanded its operations to more than 100 countries, employing more than 1,000 FTEs. Ori was responsible for the establishment and management of partnerships in numerous countries including China, Japan, Korea, England, Portugal, and the Philippines; and oversaw multiple mergers and acquisitions during his tenure there.
Ori is a seasoned executive with over 30 years of executive experience in the healthcare, insurance and mobility industries. An attorney by training, Ori executed numerous global M&A transactions earlier in his career working at Ernst & Young, and at a boutique NY law firm.
Ori will be responsible for working with Precipio’s senior executive team to develop, as well as execute its expansion strategy both domestically and globally. In the coming months, Precipio intends to launch its global initiatives, delivering the highest quality pathology services to clinicians and patients, worldwide.
Furthermore, through Ori’s vast professional network, Precipio will seek to initiate new relationships with various healthcare organizations worldwide which have been exploring an adoption of some of Precipio’s technologies, including: IV-Cell, HemeScreen and ICE-COLD PCR. These efforts are intended to enhance Precipio’s existing domestic market penetration activities.
Ori will also be working with leading US health payors in order to identify opportunities where Precipio might be able to deliver better outcomes at lower costs, by addressing the inherent costly challenges arising from misdiagnosis, and deploying Precipio’s successful and proprietarily developed processes and solutions.
“I am proud to have Ori join our executive team. Ori will add to our leadership team a unique combination of talent, experience, vision and execution capabilities that will take the company to a whole new level,” said Ilan Danieli, CEO of Precipio. “In the few weeks we have been working together, we have already plotted new initiatives and have made great progress; I am confident the company will see a substantive impact in the near, and certainly the long term. I welcome Ori to our team.”
“Precipio is leading with vision, experience and determination in a field where recognition of value is, more often than not, a matter of life or death,” said Ori Karev. “I am eager to be part of this amazing team which is facilitating the globalization of Precipio’s unique value proposition - superior diagnostic & interpretive capabilities - to demanding and deserving communities, worldwide.”
Precipio has built a platform designed to eradicate the problem of misdiagnosis by harnessing the intellect, expertise and technology developed within academic institutions and delivering quality diagnostic information to physicians and their patients worldwide. Through its collaborations with world-class academic institutions specializing in cancer research, diagnostics and treatment such as the Yale School of Medicine and Harvard’s Dana-Farber Cancer Institute, Precipio offers a new standard of diagnostic accuracy enabling the highest level of patient care. For more information, please visit www.precipiodx.com.
Certain statements in this press release constitute “forward-looking statements,” within the meaning of federal securities laws including financial projections related thereto and potential market opportunity, plans and prospects and other statements containing the words “anticipate,” “intend,” “may,” “plan,” “predict,” “will,” “would,” “could,” “should,” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Factors that could cause future results to materially differ from the recent results or those projected in forward-looking statements include the known risks, uncertainties and other factors described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 as filed on April 16, 2019 as well as the Company’s prior filings and from time to time in the Company’s subsequent filings with the Securities and Exchange Commission. Any change in such factors, risks and uncertainties may cause the actual results, events and performance to differ materially from those referred to in such statements. All information in this press release is as of the date of the release and the Company does not undertake any duty to update this information, including any forward-looking statements, unless required by law.