Posted on August 15, 2022
STAMFORD, Conn., Aug. 15, 2022 (GLOBE NEWSWIRE) -- Sema4 Holdings Corp. (Nasdaq: SMFR) (“Sema4”), a health insights company, today announced a series of corporate realignments, business highlights, and financial results for the second quarter ended June 30, 2022.
"We saw strong volume growth in both our reproductive health and recently acquired pediatrics and rare disease businesses, which delivered on record volumes. The underlying performance of the legacy GeneDx business is meeting our internal expectations and tracking ahead of our previously issued guidance. In order to drive Sema4 toward profitable growth, we have made strategic decisions since last updating the market during our first quarter 2022 conference call in May,” said Katherine Stueland, Chief Executive Officer of Sema4.
The company is on track to deliver against its previously announced cost savings target of approximately $50 million in 2022. With additional initiatives underway, the company will be on target to achieve more than $150 million in annualized savings and approximately $200 million in cumulative savings by the end of 2023.
https://discord.gg/GUPad7ETad