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  • Genetic Technologies Ltd. (GENE) Appoints Dr. Mel Bridges as New Chairman Replacing Sid Hack 0 comments
    Dec 19, 2011 1:58 PM | about stocks: GENE

    Genetic Technologies Ltd., a leading-edge genetic testing and fertility services business from Australia that has an extensive range of international patents and allied research activities aimed at uncovering the impact of DNA on health, recently announced the appointment of Dr. Mel Bridges as their new Chairman and non-executive director of the Company.  Dr. Mel Bridges has an extensive healthcare and diagnostic resume including the founding and managing of leading major diagnostics, therapeutics and medical device businesses like ASX listed Panbio Ltd. and ImpediMed Ltd.  During his 30 year career, he has also served in prominent roles as director and chairman at other public healthcare companies, including Alcehmia Ltd., ImpediMed Ltd. Campbell Brothers, Benitec Ltd. and Peptech Ltd.

    “Genetic Technologies has been one of the most compelling turnaround stories on the ASX and NASDAQ this year, and looks especially poised for growth as we head into 2012,” said Dr. Mel Bridges, new Chairman, Genetic Technologies, in a press release. “The Company’s progress to commercialization and recent US expansion is a credit to the existing Board and management. I am excited to utilize my experience in the sector to build on this trajectory.”

    Dr. Bridges replaces Sid Hack who is retiring from the company where he has served as Director since November 2008 and Chairman since November 2009.  Hack guided the company during restructuring and created a strategy for future growth that increased shareholder value.

    “I am delighted that Mel has agreed to join the Board. His substantial and direct experience in the commercialization of diagnostics products globally will add tremendous value to the Company. In particular, his knowledge of the breast cancer diagnostics market in North America will help to accelerate the Company’s cancer diagnostics business in the USA,” said Sid Hack, retiring Chairman, Genetic Technologies, in the recent press release.

    Over the past twenty years, Genetic Technologies has been granted patents in 24 countries for its uses of non-coding DNA in genetic analysis and gene mapping in all species. The company started offering paternity testing in 1997 and in 2004 became Australia’s largest privately owned forensic laboratory testing crime scent materials for the police.  In 2004, the company became Australia’s first test for breast cancer and today is one of the largest providers in Australia for the private medical market.  The corporate goal is to develop a portfolio of cancer management products and services on a global scale.

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    Stocks: GENE
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