How Exact Sciences Reinvented Itself

Ten years ago, Exact Diagnostics wasn’t a diagnostics powerhouse. The Madison, WI-based test had not yet gained FDA approval for Cologuard, its DNA-based colorectal cancer test. It didn’t have the support of insurers that it now has today. The firm was still very much in the state of transition. MD+DI spoke with Exact Sciences CEO, Kevin Conroy about the company’s past, present, and future. MDDI: Let’s talk about a little bit about when you took over the helm at Exact Sciences. How did that come about, and what was the company like back then? What was the mood and what direction was the company going in? Conroy: In 2009, Exact Sciences wanted to reinvent itself. The company was struggling, yet board members believed in the importance of the company’s vision. The next steps for Exact Sciences would be a beginning or an end. When a recruiter reached out to me, I had some doubts given the company’s previous failures. As conversations continued, Maneesh Arora, who went on to became chief operating officer of Exact Sciences, and I traveled to Mayo Clinic in Rochester, Minnesota. There we met with gastroenterologist and researcher, Dr. David Ahlquist. Dr. Ahlquist shared with us recent data showing significant improvements in the ability to detect colorectal cancer in stool. We both left converted. We believed Exact Sciences could help solve a big problem in health care and g...
Source: MDDI - Category: Medical Devices Authors: Tags: IVD Source Type: news