NeoGenomics Releases Inaugural Environmental, Social, and Governance (ESG) Report

Rhea-AI Summary

NeoGenomics, Inc. (NEO) released its 2023 Environmental, Social, and Governance (ESG) Report, showcasing progress in sustainability, diversity, and customer experience. The report emphasizes key areas like diversity, environmental stewardship, corporate governance, and employee engagement.

FT. MYERS, Fla.--(BUSINESS WIRE)-- NeoGenomics, Inc. (NASDAQ: NEO), a leading oncology testing services company, today released its 2023 Environmental, Social, and Governance (ESG) Report highlighting progress toward building a more sustainable, diverse, and equitable company that delivers exceptional customer experience and advanced testing options. This inaugural report details the performance and management of NeoGenomics’ commitment to its core values of quality, integrity, accountability, teamwork, and innovation.

“Releasing our first ESG report marks an important milestone in NeoGenomics’ growth and evolution,” said Chris Smith, CEO at NeoGenomics. “Through these efforts, we have established foundational pillars to serve as a beacon for building a sustainable company that provides exceptional customer experience and advanced testing options.”

The 2023 ESG Report measures progress on key sustainability focus areas, including Customer Privacy, Data and Cybersecurity, Recruitment, Development and Retention, Business Ethics, Product Quality and Safety, Legal and Regulatory Environment, and Environmental Stewardship.

Highlights of the report include:

• Progressing diversity, equity, inclusion, and belonging efforts. NeoGenomics continues its commitment to maintaining a supportive workplace, which includes investing in ongoing opportunities for teammate development in a diverse and inclusive environment. At the end of 2023, women comprised 59.9% of the global workforce, 53.5% of the US workforce was ethnically diverse, and 73% of employees had been impacted by cancer.
• Pursuing environmental stewardship. In 2023, NeoGenomics recycled 310 tons of waste from its labs in Fort Myers, FL, and Aliso Viejo, CA. The NeoGreen program allowed for 24.5% of all waste to be recycled.
• Protecting stakeholders with strong corporate governance. NeoGenomics expanded its Board of Directors by appointing three new independent board members with over 50 years of executive experience in digital technologies, global marketing, and molecular diagnostics.
• Promoting teammate growth and engagement. NeoGenomics’ 2023 Employee Engagement Survey showed net improvements in Employee Happiness and Employee Engagement and decreased voluntary employee turnover to 13%.

“While completing our research and aggregating the data for the report, it quickly became apparent that ESG principles have been at the core of our work for some time now,” added Smith. “I am more optimistic than ever about what lies ahead for NeoGenomics. Our 2024 plans and pipeline will move us closer to serving 1 million patients annually by 2028.”

About NeoGenomics, Inc.

NeoGenomics, Inc. specializes in cancer genetics testing and information services, providing one of the most comprehensive oncology-focused testing menus for physicians to help them diagnose and treat cancer. The Company's Advanced Diagnostic Division also serves pharmaceutical clients in clinical trials and drug development.

Headquartered in Fort Myers, FL, NeoGenomics operates CAP-accredited and CLIA-certified laboratories for full-service sample processing in Fort Myers, Florida; Aliso Viejo and San Diego, California; Research Triangle Park, North Carolina; and Houston, Texas; and a CAP-accredited full-service, sample-processing laboratory in Cambridge, United Kingdom. NeoGenomics also has several small, non-processing laboratory locations across the United States for providing analysis services. NeoGenomics serves the needs of pathologists, oncologists, academic centers, hospital systems, pharmaceutical firms, integrated service delivery networks, managed care organizations throughout the United States, and pharmaceutical firms in Europe and Asia.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240320977067/en/

Investor Contact

Kendra Sweeney

Vice President, Investor Relations and ESG

kendra.sweeney@neogenomics.com

Media Contact

Andrea Sampson

President/CEO, Sampson Public Relations Group

asampson@sampsonprgroup.com

Source: NeoGenomics, Inc.

What does the 2023 ESG Report by NeoGenomics focus on?

The 2023 ESG Report by NeoGenomics focuses on sustainability, diversity, equity, inclusion, customer privacy, data security, recruitment, business ethics, product quality, legal compliance, and environmental stewardship.

What are some highlights of the 2023 ESG Report by NeoGenomics?

Highlights include progress in diversity efforts, recycling 310 tons of waste in 2023, appointing new independent board members, and improving employee engagement.

What percentage of women comprised the global workforce at the end of 2023 for NeoGenomics?

At the end of 2023, women comprised 59.9% of the global workforce at NeoGenomics.

How much waste did NeoGenomics recycle in 2023?

NeoGenomics recycled 310 tons of waste in 2023 from its labs in Fort Myers, FL, and Aliso Viejo, CA.

What was the voluntary employee turnover rate for NeoGenomics in 2023?

The voluntary employee turnover rate for NeoGenomics decreased to 13% in 2023.