NeoGenomics Cancer Lab in Fort Myers introduces new CEO
NeoGenomics, a Fort Myers-based cancer lab with a national presence, has recently announced the appointment of a new CEO. After several years leading the company, Chris Smith will be stepping down on April 1, making way for Tony Zook to take over the role.
Zook, a seasoned industry veteran who has been on the board since 2023, is set to assume his new position as CEO when Smith officially steps down. The news of this leadership change caused a decrease in shares of more than 17%. To ensure a smooth transition, Smith, who has been pivotal in overseeing the company’s growth, will remain as an adviser until February 2027, with a monthly fee of $23,913.
In a statement, the board expressed confidence in Zook’s ability to lead NeoGenomics into its next phase of growth. Zook brings with him a wealth of experience, having held executive positions with companies like AstraZeneca and Innocoll Pharmaceuticals. He is enthusiastic about the opportunity to further develop NeoGenomics’ comprehensive testing portfolio and build upon its operational foundation to better serve cancer patients while creating value for shareholders.
Despite facing challenges in the past, NeoGenomics has been on an upward trajectory under Smith’s leadership, experiencing eight consecutive quarters of double-digit revenue growth. The company is expected to report positive EBITDA for 2024, signaling a turnaround from previous losses. NeoGenomics, founded in 2001, conducts testing for medical professionals across the United States and the United Kingdom.
In his departing statement, Smith emphasized the company’s rapid transformation and growth under his guidance and expressed confidence in the direction NeoGenomics is headed. The company anticipates serving one million patients annually by 2028, a testament to its dedication to patient-centered care. The transition in leadership marks a significant milestone for NeoGenomics as it continues to evolve and expand its presence in the oncology testing landscape.
