Myriad appoints Chip Parkinson as EVP for Reimbursement Strategy

Myriad Genetics, Inc. (NASDAQ:MYGN) announced today that Chip Parkinson will join the company in the newly created position of executive vice president (EVP) for Reimbursement Strategy. In this role, Mr. Parkinson will report to Mark C. Capone, president and CEO of Myriad Genetics with responsibility for facilitating additional global reimbursement for the Company's pioneering molecular diagnostic products.

While personalized medicine offers tremendous promise to improve patient care and reduce waste in the healthcare system, reimbursement has proven challenging given current paradigms in managed markets. In his new role, Mr. Parkinson will lead the effort to identify novel approaches to partner with managed care plans and other healthcare payers to ensure that Myriad's pioneering products deliver value to our customers.

"Every innovative product that Myriad develops has a strong health economic story and, increasingly, we have a portfolio of diagnostic tests that can save healthcare payers millions of dollars in downstream costs," said Mr. Capone. "Chip has unique experience that we can leverage to engage with payers at the highest levels and demonstrate the solutions that Myriad offers to the difficult challenge of achieving better patient outcomes with significantly lower overall healthcare costs."

Mr. Parkinson has held several senior positions over the past 20 years. Most recently, he worked for Cambia Health Solutions as president of OmedaRx and MedSavvy, and was the chief pharmacy officer for Regence Blue Cross Blue Shield Health Plans. In this role, he managed over $1 billion in annual drug spending for the Regence Blue Cross Blue Shield health plans in Utah, Washington, Oregon and Idaho, which have of more than two million members. Prior to that, he severed in general management and managed care leadership roles at Pfizer Inc. and Myriad Genetics.

"I am extremely excited to join Myriad in a role in which I can have a tremendous positive impact on the future of the Company and help to provide patients with access to cutting-edge diagnostics," said Mr. Parkinson. "From my vantage point as a former executive in a managed care organization, I truly believe that Myriad offers a unique value proposition that can help our customers advance their organizational goals."