NEW YORK--(BUSINESS WIRE)--Today, Celmatix, a next-generation women’s health company, announced that Richard Hofbauer has joined its executive team in the role of Chief Operating Officer (COO) and interim Chief Financial Officer (CFO). In this role, Hofbauer will be tasked with leading Celmatix’s operational and financial functions as the company enters its next phase of growth, driven in part by the infusion of $4.5 million in funding announced late last year to expand its footprint in New York City from Empire State Development’s New York City Regional Economic Development Council (REDC), which represented the group’s largest life science investment in the city in 2017.
Hofbauer joins Celmatix at a time of rapid progress, just months after regulatory approval of its Fertilome test, the world’s first multigene panel test for risk of conditions associated with women’s reproductive health. The company’s Polaris data analytics platform has shown continued traction and to date has been used with more than 80,000 patients in top fertility clinics across the country. Celmatix was named one of Fast Company’s Most Innovative Companies of 2017.
“As a leader, Rich brings to Celmatix the right blend of operational discipline and experience with raising capital, scaling, and organizational development,” said Piraye Yurttas Beim, PhD, founder and CEO of Celmatix. “What makes Richard unique for almost any company is his invaluable experience being the first employee of a startup that grew to 2,500 people, went public, and sold to a global investment bank. He also has a proven track record of helping company founders scale and realize significant value for their businesses. Most recently, as COO of Intersection, he managed the migration from what was a traditional out-of-home advertising product and helped leapfrog the company into the next generation by launching LinkNYC’s network, replacing NYC’s 10K payphones with state of the art digital advertising and Wi-Fi kiosks. We are excited that Rich has chosen to now partner with us on our next stage of growth at Celmatix.”
Prior to Celmatix, Hofbauer was COO at Intersection, Inc., having previously served as a Partner at Control Group (which later merged with Titan360 to form Intersection). While at Control Group, he helped attract Fortune 500 clients, improve profitability and revenue, and successfully positioned the organization for investment from Sidewalk Labs, an Alphabet company, alongside private investors. Before that, he was the first employee hired at MortgageIT Holdings (MHL), which grew to 2,500 employees before going public and being acquired by Deutsche Bank in 2006.
“I knew that I wanted my next opportunity to be compelling from a business standpoint, but also a place with a strong mission. Celmatix was a clear outlier to me both because of the scale of the impact they are having on women’s health, but also because as a father to a daughter and husband to an amazing working mom, I share a strong conviction to help empower this and future generations of women with better information and healthcare,” said Hofbauer. “Piraye has assembled a very impressive team, and I am excited to partner with them on Celmatix’s next exciting stages of growth.”
For information on opportunities to join the Celmatix team, please visit www.celmatix.com/careers.
About Celmatix Inc.
Celmatix is a next-generation women’s health company transforming reproductive health care through genomics and big data. Founded in 2009 and based in New York City, Celmatix is disrupting how women approach their lifelong fertility journey by empowering them and their physicians with more personalized information. The company’s research-driven products include the Fertilome® test, the world’s first multigene panel test that reveals what a woman’s DNA says about her reproductive health, and Polaris®, a real-time predictive analytics platform in use at leading fertility clinics across the U.S., which helps physicians optimize patient outcomes and improve the patient experience.