NeoGenomics (NEO) Offers a One-Stop-Shop for Cancer Research Partners

Bolton Flautt  |

Comprehensive testing is invaluable when it comes to cancer research. About 595,690 Americans are expected to die of cancer in 2016, which translates to about 1,630 people per day. Cancer is the second most common cause of death in the US, exceeded only by heart disease, and accounts for nearly 1 of every 4 deaths. When I step back and really think about those numbers and see that they are referring to people’s lives, it makes me want to forget about any price tag for cancer research. Efficiency and innovation come to mind as indispensable attributes in reference to the battle with cancer. NeoGenomics (NEO) is constantly investing in new technology in hopes of automating their testing instruments, techniques, and procedures.

NeoGenomics mission is to improve patient care through exceptional cancer genetic diagnostic services. After watching the informational video on the company’s website, it’s very evident to me that NeoGenomics has a bigger plan in mind than just making the cancer tests better and faster. They want to create a whole new culture via education on current cancer testing techniques listed on their website and through its database along with providing excellent customer service through their team of knowledgeable staff so, that there is never an unanswered question.

From looking at the most recent reported quarter by NeoGenomics, obviously they are doing something right having a 142 percent increase in revenue to $60.8 million along with year-to-date cash flow from operations of $21.7 million.

Douglas M. VanOort, the Company's Chairman and CEO, commented, "We are particularly pleased with our Clinical Division performance in Quarter 3. We began migrating Clarient (business acquired in early 2016) clients to the NeoGenomics Laboratory Information System (LIS) in July with a goal of 100% client retention. Our Sales and Operating Teams have been working tirelessly to make this happen. Their efforts are paying off, as half of the Clarient accounts have now been successfully migrated and retention rates are outstanding. We expect to finish this migration process in the fourth quarter and are looking forward to moving our focus back to closing the large number of accounts in our sales pipeline."

It’s refreshing to see a company like NeoGenomics putting such an emphasis on its customers and adjusting its product and service line to meet the constantly evolving criteria of said customers. The battle against cancer is ongoing and uphill, so teamwork, collaboration, and humility will be crucial moving forward towards the discovery of a cure.

We will reach out the Mr. VanOort and other members of the management team to see what exciting new research techniques and procedures NeoGenomics has in store for the cancer research community in 2017.

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