23andMe Seeks New CFO

Genetics testing provider 23andMe said its chief financial officer will leave the company next month after four years with the company.

Steve Schoch notified 23andMe of his resignation earlier this week, effective Sep. 1, according to an SEC filing. He will remain with the company until the end of September amid the transition of his responsibilities.

Read more: 23andMe to Buy Web Platform Lemonaid Health for $400M

“Steve has been a fantastic partner and has led the company through many important milestones,” a company spokesperson told PYMNTS.

“Joe Selsavage, who has been acting as our interim chief accounting officer and who has excellent experience as Lemonaid Health’s CFO, has agreed to serve as 23andMe’s Interim CFO and Interim CAO.”

The spokesperson said Schoch is leaving to take a new role “leading corporate operations at a private company.”

23andMe acquired Lemonaid last year for $400 million, with cofounder and CEO Anne Wojcicki calling the purchase key to the company’s primate care and personalized healthcare strategy.

“By starting with genetics as the foundation, we will give patients and healthcare providers better information about health risks and treatments, opening up the door to prevent as well as better manage disease,” she said. “Lemonaid Health’s focus on the patient and its philosophy of delivering individualized care fits perfectly with our mission of empowering people to take control of their health.”

Schoch’s resignation comes weeks after 23andMe reported net losses of $90 million for the second quarter, more than double its losses in the same quarter last year. The results also showed the company’s revenue growing 17% from last year to this year thanks to the addition of telehealth services.

Learn more: Telehealth Tech at Crossroads as In-Office Visits Resume

PYMNTS reported earlier this month that telehealth has reached a crossroads as the technology moves to a more permanent place in healthcare.

Telehealth visits stabilized in late 2021 at roughly 38 times pre-pandemic levels, though nonprofit health data FAIR Health’s latest Monthly Telehealth Regional Tracker showed that telehealth use “fell nationally for the second straight month” in March, following a downward trend that started early this year.

FAIR said the decline in telehealth this year is “likely due to continuing reduction in the reported number and severity of COVID-19 infections, which may have led more patients to return to in-person healthcare services.”