- PR Newswire•10 months ago
PARSIPPANY, N.J., Dec. 22, 2015 /PRNewswire/ -- PDI, Inc. (PDII) announced the closing of the definitive asset purchase agreement under which Publicis Healthcare Communications Group has acquired PDI's Commercial Services business (CSO) for the initial upfront cash payment of $25.5 million. The total gross cash proceeds are approximately $28.5 million, which includes the upfront cash payment as well as a closing working capital payment.
- PR Newswire•10 months ago
PARSIPPANY, N.J., Dec. 22, 2015 /PRNewswire/ -- PDI, Inc.(PDII) today reported that as the Company transitions to focusing solely on its molecular diagnostics operations, Nancy Lurker has resigned as President, CEO and a member of the Company's board of directors effective immediately upon the expected closing of the proposed sale of the Company's Commercial Services Business. She has been succeeded on an interim basis by Jack E. Stover, previously Chairman of the Company's Audit Committee, while a search for a permanent chief executive officer has been initiated. The Company also reported Gerald P. Belle, Chairman of the PDI, Inc. Board of Directors, has retired and Stephen J. Sullivan has been appointed Chairman of the Board of Directors effective January 1, 2016. Mr. Sullivan has been a member of the Board since 2004 and most recently served as Chairman of the Company's Compensation and Management Development Committee. In addition, Harry Glorikian and Dr. Joseph D. Keegan have been appointed to the Company's Board of Directors effective January 1, 2016. The appointments fill the vacancies created by the retirement of Mr. Belle and the resignation of Director John Federspiel effective January 1, 2016.
- PR Newswire•11 months agoPDI, Inc. Implements Broad Based Efficiencies To Position Interpace Diagnostics For Long Term Growth
PARSIPPANY, N.J., Dec. 7, 2015 /PRNewswire/ -- PDI, Inc. (PDII) implemented a broad based program to maximize efficiencies as the Company expects to close its sale of the CSO business by the end of 2015 and focus its resources on growing its Interpace Diagnostics business. As previously disclosed, upon closing of the proposed sale of the CSO business, PDI will change its name to Interpace Diagnostics Group, Inc. The program, aimed at better aligning operating costs with the revenue base post closure, involves a number of components including reducing the Interpace Diagnostics workforce by 21%, and reducing or eliminating a number of operating expenses. In addition, the Board of Directors has elected to defer their fees due during the fourth quarter of 2015 to a future date yet to be determined. President & CEO Nancy Lurker has also voluntarily agreed to reduce her base salary by more than 45% until a future date yet to be determined.
** SEE<IDXG> (PDII)
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