Dear Stakeholders, 

In 2021, during the most difficult operating environment any of us has ever seen, Myriad Genetics executed a bold transformation and growth plan that spanned virtually every part of our business. Throughout the pandemic, our 2,300 teammates – together with tens of thousands of doctors, nurses, genetic counselors, nurse practitioners and other healthcare workers – demonstrated courage and determination. Our teammates showed their passion for fulfilling our mission and serving the patients and healthcare providers who rely on us. I want to thank them and extend deep gratitude to all our customers, partners, stakeholders, and the entire healthcare community for their extraordinary efforts. 

Strategic Priorities

1. Innovative science that improves clinical outcomes, ease of use, and access. 

Our strategy reflects Myriad’s position as a differentiated partner with specialized expertise. It is underpinned by three priorities: Innovative science that improves clinical outcomes, ease of use, and access. 

Over three decades, Myriad has served more than seven million patients. In 2021, we provided genetic insights for nearly one million patients. We work with more than 60,000 active ordering physicians. 95% of payers cover certain Myriad testing in network, and we offer financial assistance to those in need. As a leader in genetic testing and precision medicine, we are known for best-in-class products. But we have not always been easy to work with. As we enhance our portfolio, we are also improving our patient and provider experience. At the same time, we are taking actions to expand access to genetic testing, increase health equity, and advance social justice. 

2. Building scalable enterprise capabilities to accelerate growth.

Market opportunities across our Women’s Health, Oncology and Mental Health businesses are on average growing at compound annual rates of 10% or more. To capture these opportunities, we are elevating our products to their full potential and investing in new tech-enabled, customer-centric commercial capabilities to drive service excellence, remove process barriers, and reduce complexity and cost. We are also driving operational and financial efficiencies and improving revenue cycle management. 

3. Disciplined execution and delivery of consistent results. 

Our transformation began in the second half of 2020. We reset our base, focused on our highest potential businesses, and began to develop our new commercial model. In 2021 we launched innovative offerings that reinforce our mission, debuted our new brand and marketing strategy, restructured our sales force, accelerated digital engagement, and reinvested in talent development and retention. As we look to 2022 and beyond, we continue to focus on delivering on a key set of initiatives to drive long-term growth and profitability. We will build on our commercial and tech capabilities to support new products, expand consumer channels, and pursue strategic acquisitions and partnerships.

Read the full letter

Investor Day

August 11, 2022