SAN
FRANCISCO, Sept. 25, 2023 /PRNewswire/
-- Invitae (NYSE: NVTA), a leading medical genetics
company, today announced the appointment of finance veteran
Ana Schrank as the Company's chief
financial officer (CFO), effective October
2. Robert Dickey, who has
been the Company's interim CFO since August
2023, will transition to a consulting role for the Company
and will work closely with Ms. Schrank and the leadership team to
ensure a smooth transition.
"We're excited to welcome Ana to our Invitae team. Her track
record of driving growth, transforming businesses and building high
performing teams are a great fit for our needs now and into the
future," said Ken Knight, president
and chief executive officer of Invitae. "Ana brings financial and
leadership experience with healthcare companies across different
stages of growth, and will be a tremendous asset to Invitae as we
continue our focus on profitable growth, operational excellence,
innovation and investment in our future."
With more than 25 years in finance, Ana brings a wealth of
experience to Invitae including budget and long-range planning,
operational transformation, equity fundraising, debt restructuring,
internal audit and risk controls as well as board and investor
relations. Most recently, Ms. Schrank served as CFO for Truepill,
Inc., a digital health platform powering pharmacy experiences that
patients interact with every day, where she led finance, accounting
and human resources. From 2020 to 2022, she served as CFO at
Collective Health, a third-party administrator integrating plan
administration, navigation and advocacy, leading all finance
functions as well as strategy, customer analytics and actuarial.
Earlier in her career, she spent more than 20 years at McKesson
Corporation where she held leadership roles that touched many
aspects of a public company's finance function including as senior
vice president and chief audit executive, CFO of a technology
business unit, and head of investor relations. Ms. Schrank holds an
MBA in finance from Fordham University
and a BA in English literature from the College of William & Mary.
"I'm looking forward to joining Invitae and using my passion for
patients and broad financial background to focus on identifying
durable paths for profitable growth in support of Invitae's mission
to bring comprehensive genetic information into mainstream
medicine," said Ms. Schrank.
Inducement Grant
Pursuant to her hiring as the
Company's CFO, Invitae is granting 850,000 restricted stock units
("RSUs") to Ms. Schrank under Invitae's 2015 Stock Incentive Plan
(the "2015 Plan"), which will be amended and restated to add
850,000 shares of Invitae common stock to a pool of shares under
the 2015 Plan which is to be used exclusively for the grant of
inducement awards in compliance with New York Stock Exchange Rule
303A.08 ("Rule 303A.08"). The RSUs, which are subject to approval
by Invitae's Board of Directors, are being granted as an inducement
material to Ms. Schrank's agreement to be employed with Invitae in
reliance on the employment inducement exemption under Rule 303A.08.
One-third of the RSUs will vest on each of the first three
anniversaries of November 15, 2023,
subject to Ms. Schrank's continued service as an employee of
Invitae through the applicable vesting dates. The grant of the RSUs
is subject to the terms and conditions of the 2015 Plan and the
applicable form of stock award agreement.
About Invitae
Invitae (NYSE: NVTA) is a leading
medical genetics company trusted by millions of patients and their
providers to deliver timely genetic information using digital
technology. We aim to provide accurate and actionable answers to
strengthen medical decision-making for individuals and their
families. Invitae's genetics experts apply a rigorous approach to
data and research, serving as the foundation of their mission to
bring comprehensive genetic information into mainstream medicine to
improve healthcare for billions of people.
To learn more, visit invitae.com and follow for updates on
Twitter, Instagram, Facebook and
LinkedIn @Invitae.
Safe Harbor Statement
This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including statements
relating to the company's focus on profitable growth and creating
the capacity to pursue innovation and investment in the company's
future. Forward-looking statements are subject to risks and
uncertainties that could cause actual results to differ materially,
and reported results should not be considered as an indication of
future performance. These risks and uncertainties include, but are
not limited to: the company's ability to grow its business in a
cost-efficient manner; the company's history of losses; the
company's ability to maintain important customer relationships; the
company's ability to compete; risks associated with litigation; the
company's ability to use rapidly changing genetic data to interpret
test results accurately and consistently; security breaches, loss
of data and other disruptions; laws and regulations applicable to
the company's business; and the other risks set forth in the
company's filings with the Securities and Exchange Commission,
including the risks set forth in the company's Quarterly Report on
Form 10-Q for the quarter ended June 30,
2023. These forward-looking statements speak only as of the
date hereof, and Invitae Corporation disclaims any obligation to
update these forward-looking statements.
Invitae Contacts:
Investor Relations
Hoki
Luk
ir@invitae.com
Public Relations
Amy
Hadsock
pr@invitae.com
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SOURCE Invitae Corporation