TUCSON,
Ariz., March 14, 2023 /PRNewswire/ -- Accelerate
Diagnostics, Inc. (NASDAQ:AXDX) a leading provider of innovative
rapid diagnostic solutions, announced today that Steve Reichling will be stepping down as Chief
Financial Officer (CFO), effective March 31,
2023. David Patience, who
previously served as Senior Director - Head of Business Development
and Strategic Finance has been named as the company's new CFO,
effective April 1, 2023.
Reichling, who has been with the company since 2012, played a
vital role in Accelerate Diagnostics' growth and success over the
years. During his tenure, he assisted with taking the company
public in 2015, led all funding rounds, and held a key role in
day-to-day operations of the company. Mr. Reichling will continue
in a consulting role for the company through 2023. He is leaving
the company to pursue new opportunities and challenges. "Steve has
been an integral part of our team and has made significant
contributions to our company's growth and success," said
Jack Phillips, CEO of Accelerate
Diagnostics. "We are grateful for his hard work and dedication, and
we wish him all the best in his future endeavors."
Steve Reichling commented, "A
little over a decade ago, I joined Accelerate to bring much needed
rapid testing to microbiology. And while there remains much
to be done, I pass the baton to my friend and colleague
David Patience confident that
Accelerate is making a positive clinical impact today and has a
bright future ahead. Recent progress on our capital structure, BD
partnership, and next generation platform has set the company and
its many stakeholders up for success. I would like to thank
Jack Phillips, the hardworking team
at Accelerate, and our broader community of supporters for making
this incredible adventure possible."
David Patience will take over as
the company's Chief Financial Officer, effective April 1, 2023. Mr. Patience will serve as the
company's principal financial officer and principal accounting
officer. "We are delighted to have David take on this new role and
are confident in his ability to lead our financial operations,"
said Phillips. "He has been an instrumental part of our team, and
we are eager to see how he will help us continue to grow and
innovate in the years to come."
About David Patience
Mr. D. Patience, age 37, has served as the company's Senior
Director – Head of Business Development and Strategic Finance
from January 2021 to March
2023. Prior to this position Mr. Patience held the position of
Director, Head of Finance, Planning and Analysis and Corporate
Development, September 2017 –
January 2021. Throughout his time
with Accelerate Diagnostics, Inc.
Mr. Patience has led strategic product portfolio planning which
includes in-depth market analysis of organic and in-organic
portfolio opportunities and technical and commercial feasibility to
deliver financial analysis of partnerships, mergers and
acquisitions and organic programs. Most recently, Mr. Patience has
led operationalizing the company's recent commercial arrangement
with Becton, Dickinson and Company.
Prior to joining Accelerate Diagnostics, Inc. Mr. Patience's
prior positions include with Morgan Stanley's Investment Banking
Division, equity research at Continental Advisors, and various
financial research roles at Nuveen Investments. Mr. Patience holds
a Bachelor of Science in Business Administration from the
University of Colorado Leeds School of
business and a M.B.A. from University of
Chicago's Booth School of business.
About Accelerate Diagnostics, Inc.
Accelerate Diagnostics, Inc. is an in
vitro diagnostics company dedicated to providing solutions
for the global challenges of antibiotic resistance and sepsis. The
Accelerate Pheno® system and Accelerate
PhenoTest® BC kit combine several technologies
aimed at reducing the time clinicians must wait to determine the
most optimal antibiotic therapy for deadly infections. The FDA
cleared system and kit fully automate the sample preparation steps
to report phenotypic antibiotic susceptibility results in
approximately 7 hours direct from positive blood cultures. Recent
external studies indicate the solution offers results 1-2 days
faster than existing methods, enabling clinicians to optimize
antibiotic selection and dosage specific to the individual patient
days earlier.
"Accelerate Diagnostics" and diamond shaped logos and marks are
registered trademarks of Accelerate Diagnostics, Inc.
For more information about the company, its products and
technology, or recent publications, visit axdx.com.
Forward-Looking Statements
Certain of the statements made in this press release are forward
looking or may have forward looking implications. Actual results or
developments may differ materially from those projected or implied
in these forward-looking statements. Information about the risks
and uncertainties faced by Accelerate Diagnostics is contained in
the section captioned "Risk Factors" in the company's most recent
Annual Report on Form 10-K, filed with the Securities and Exchange
Commission on March 14, 2022, and in any other reports that
the company files with the Securities and Exchange Commission. The
company's forward-looking statements could be affected by general
industry and market conditions, and regulatory approvals. Except as
required by federal securities laws, the company undertakes no
obligation to update or revise these forward-looking statements to
reflect new events, uncertainties or other contingencies.
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SOURCE Accelerate Diagnostics, Inc.