Year-End 2022 Letter from CDI President & CEO

You are valued and appreciated. This is the first and most important message I want to send. As I reflect on 2022 and look ahead to 2023, I’m deeply grateful for the diverse group of partners working together to ensure the collective health of our patients and, in turn, the success of our company. At CDI, we act in service every day to our healthcare providers and the patients under your care, and it’s with sincere gratitude for your continued participation in our company’s progress that I write this year’s letter.

We established truly remarkable relationships with our provider partners throughout 2022. In 2023, we will continue developing innovative and exciting new partnerships within the medical, research, and business communities in the US and worldwide. At the heart of all of these relationships is value-creation for the healthcare provider and their patients, as we constantly strive to make delivering and receiving diagnostic support as efficient and effective as possible.

The past year was remarkable in many ways. For the world generally, for the healthcare industry specifically, and for CDI namely. At a macroeconomic level, the stock market plummeted, interest rates rose dramatically, and inflation skyrocketed, creating many uncertainties for companies across all stages of growth. Healthcare companies weren’t immune to these market conditions, and many of them, still recovering from the inhibiting impact of COVID-19 on their core business operations, found themselves quickly having to manage a two-front battle. Many organizations backpedaled, others shifted strategies, and some adapted or changed identities altogether.

At CDI, we stayed the course. We made it our mission to stay true to our core competencies while never settling for the status quo. We did this by investing in new support strategies and infrastructure for our internal teams and the customers they support. We stayed focused, worked hard to safeguard our healthcare providers and their patients by ensuring they remain at the center of every decision we make; and maintained confidence in our strategy to use the efficiency of our at-home diagnostic service model to provide direct access to the tests, tools, systems and data that healthcare providers and patients need to effectively manage their functional GI conditions.

It worked. Against the backdrop of a challenging macroeconomic environment and a lingering pandemic, CDI has been a direct contributor to and beneficiary of the rapidly transforming medical delivery landscape. Healthcare continues to decentralize in fascinating ways. As more care shifts online and into the home, there’s a growing need for more convenient, accessible, and patient-friendly testing options to support health delivery.

Meeting patients where they are has become more critical than ever. Technologies like at-home diagnostic testing and medication delivery, virtual care via telemedicine, and real-time data insights with patient-to-provider feedback loops are becoming more standardized every year. All of these developments have the potential to unlock greater convenience, privacy, and turnaround time across a vast array of products and services in the industry.

The diagnosis and management of disease are becoming more personalized and precision-based each year. The shift from fee-for-service to value-based care is here. It’s omnipresent, and it’s not going away. The strategies being used by providers to dispense care, by patients to receive it, and by insurers to pay for it are changing. The organizations and companies who embrace this change – and are willing and able to adapt to this evolving healthcare delivery and reimbursement landscape – are the ones who stand poised to contribute the most value, clinically and economically, to healthcare in communities throughout the US and around the world. CDI intends to stay ahead of this curve through continued investment in our people, partnerships, technology, and infrastructure. We’ll do this with a singular focus on creating as much value as possible for our healthcare providers and their patients by upleveling the diagnostic journey, optimizing the clinical workflows associated with these tests, and, ultimately, expediting treatment and improving care for patients suffering from functional gastrointestinal distress.

In 2023 (and beyond), I firmly believe that the culture created by a company, and the connections to its core values that it makes for its team members and customers, will be profoundly important. Covid has directly affected the world – socially, professionally, and emotionally. Many people have been uprooted from their pre-pandemic routines that they had grown accustomed to. Because of this, organizations and companies have become significant for continued connection, engagement, and motivation. Now, more than ever, it’s tremendously essential for companies to clearly define their goals, state their mission, and work to build an identity that represents the values they believe in the most.

At CDI, our mission is to be a dependable provider of accessible, affordable, high-quality diagnostic tests and tools for patients suffering from functional GI disturbances. Our goal, and the challenge we make to ourselves, is to get a little better at how we do that every day. While sometimes underappreciated, lab tests inform ~70% of today’s medical decisions and are some of the best tools available to identify health risks, pinpoint diagnoses, plan treatments, and monitor conditions over time. CDI is proud to contribute to this decision-making process, and we look forward to finding new ways to help in 2023.

To our team members, thank you for another amazing year, and for your tireless efforts in creating the company that CDI is today.

To our patients and healthcare providers, thank you for trusting us with this important component of your care journey. We recognize and appreciate that functional GI disease is, most frequently, a chronic care situation, and we take our responsibility seriously to provide you with important diagnostic data along the way. Our commitment is to continue doing this for you as transparently, effectively, and affordably as possible. We will remain humble yet ambitious – and we will never stop learning, growing or trying to improve the service we provide for you daily.

To everyone, I wish you, your families, and your loved ones a happy and healthy New Year!

Looking forward to all that 2023 has in store for us.

Best,