iSpecimen Inc. (Nasdaq: ISPC) (“iSpecimen” or the “Company”), an online global marketplace that connects scientists in need of biospecimens for medical research with a network of healthcare specimen providers, announced that the Company has appointed Joseph J. Basile to iSpecimen’s Board of Directors (the “Board”), as well as the audit committee and the nominating and corporate governance committee of the Company, effective November 28, 2022. Mr. Basile is replacing Margaret H. Lawrence as an independent director.
Mr. Basile is a sought-after strategic advisor, an accomplished business leader, a skilled negotiator, a trained mediator and a recognized expert in mergers and acquisitions, restructuring and governance. His extensive experience in a wide range of complex corporate matters, his ability to function well in circumstances involving high stress and ambiguity, and his track record in successfully leading teams and in achieving consensus among individuals holding diverse views make him a valuable addition to the Board. Mr. Basile has assisted hundreds of boards and C-suite executives in optimizing outcomes for stakeholders.
“iSpecimen is excited to have Mr. Basile join our Board. Joe brings significant knowledge in M&A, restructuring, governance, and financial acumen to iSpecimen. Joe’s strength in leading and guiding Board room dialogue is key to unlocking our larger M&A strategy. We look forward to Joe’s contributions as iSpecimen continues to execute upon its business strategy,” said Tracy Curley, Interim CEO and CFO of iSpecimen. “Additionally, we thank Margaret for her expert advice and support of the Company during her time on the Board.”
Mr. Basile has advised global Fortune 500 companies, mid-market public companies, private equity and venture capital backed companies, and family-owned companies. His experience includes work in the technology, life sciences, professional services, and education sectors. He is the founder and managing director of Pari Passu M&A Mediation, LLC, an alternative dispute resolution firm that works exclusively on the mediation of M&A-related disputes. He is also a Senior Advisor at Hogan Lovells US LLP, a global law firm, providing strategic advice to the firm and its clients regarding business development, M&A, restructuring and governance matters. Mr. Basile earned his JD from Harvard Law School and his AB from Stonehill College. He has also trained in mediation at the Harvard Law School Program on Negotiation executive education program.
“It is a critical time for iSpecimen as the Company transitions to new leadership and takes a hard look at the business operations. I am excited by iSpecimen’s near- and long-term business initiatives and believe that I can play a valuable role in advising Tracy and the iSpecimen team as they progress forward,” added Mr. Basile.