How culture is crucial to a successful exit through acquisition

Claire (Perry) Strofield our consultant managing the role
Posting date: 10/03/2022


In the final part of our series, Proclinical Executive Senior Partner, Claire Perry, speaks with another inspirational woman in business, Megan Bailey, CEO of Personal Genome Diagnostics (PGDx). Megan shares her insights on company culture, how she created an environment for success, and the crucial role that played in PGDx's recent acquisition by Labcorp.

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Megan Bailey has more than 18 years of leadership experience in the healthcare industry. As Chief Executive Officer of Personal Genome Diagnostics (PGDx), she leverages her extensive knowledge of clinical diagnostics, business development, and commercialization to lead a team focused on providing precision cancer care solutions that allow all patients to have access to best-in-class genomic testing. Prior to her role as CEO, she served as Chief Commercial Officer, leading the Company’s marketing, sales, and customer support teams, and before that, as Vice President of Marketing.

She began her career in diagnostics with Ventana Medical Systems, a company with a patient-focused mission to improve cancer diagnostics globally. Following Roche Diagnostics’ acquisition of Ventana in 2008, Megan spent the next 10 years rapidly progressing through commercial leadership roles of increasing responsibility. In her last role at Roche, she served as Senior Director of Commercial Operations, responsible for a $200M+ portfolio across four divisions, addressing multiple disease states and market segments.

Within Megan’s first year as CEO of PGDx, she successfully restructured the overall business and delivered several significant commercial milestones, including the first-ever FDA clearance of a comprehensive genomic profiling product, positive Medicare reimbursement coverage, and high impact partnerships with oncology leaders, pharmaceutical partners, and co-development partners. In February 2021, she closed a $103M Series C financing – the largest round achieved by the company to date – with a new lead investor and a blue-chip syndicate.

Megan is a graduate of the United States Military Academy at West Point and earned her Master of Public Health from the University of North Carolina, Chapel Hill. Megan serves on the UMB Foundation Board of Trustees and the Army West Point Athletic Association Board of Directors.

Topics covered include:

  • Preparing to become a CEO
  • Challenges of transitioning into a CEO role
  • Stepping out of your comfort zone to accept new opportunities
  • Lessons for operating a successful and profitable business
  • The importance of creating a strong network
  • Presenting your experience to become a Board member
  • Applying an athletic mindset in business
  • Supporting the next generation of female leaders

For more insights from life science leaders, see further episodes from our Women CEOs and Founder Series: 

How to reframe your thinking to overcome self-doubt with Angela Cunningham - Mentor of female executives