Client - Spotlight Pathology
Role - Chief Executive Officer
Background
Sci-tech Daresbury-based Spotlight Pathology was spun out of the University of Manchester in January 2020 by Dr Martin Fergie and Prof Richard Byers and recently re-located to Daresbury. Spotlight has developed AI tools to streamline the diagnosis process for blood cancer representing a $3b global market opportunity. Diagnosis is currently time-consuming due to a shortage of highly trained pathologists; this results in delayed diagnosis, treatment, and poor patient outcomes
Objectives
Identify a CEO with extensive experience in fundraising and company scale up.
Ensure the candidate aligns with the company’s culture and values.
Complete the recruitment process promptly to meet Spotlight’s strategic priorities and allow Martin Fergie to step into a CTO role.
Strategy
Engagement of a Recruitment Partner:
RMG had met with Founder Martin Fergie on several occasions leading up to the project to understand Spotlight’s Mission more deeply and were uniquely placed to carry out the identification of the successor CEO.
RMG were subsequently engaged to present individuals for Martin’s consideration.
Candidate Identification and attraction
RMG identified potential candidates through industry networks, desk-based research, and consultant knowledge.
RMG took time to present Spotlight’s thesis to prospective individuals who could help them, and the unique nature of the role and early stage of the business meant that this role was only for a certain percentage of the market.
Assessment and Selection Process:
The selection was a two-way street, with Martin as Founder wishing to ensure the candidate was up for the challenge, and an appropriate succession for him. At the same time, the strategic experience and credentials of the candidates and their achievements in the market ensured that they would want to be comfortable with Spotlight’s journey and whether it was right for them.
Final Decision and Onboarding:
Martin was delighted to come to agreement with Dr Sam Perona, a seasoned CEO professional with a successful exit of her own business Perfectus Biomed. Sam joined in April this year.
Results
Positive Impact: Under Sam’s leadership, Spotlight secured £125k in funding from Liverpool based Lyva Labs, with Sam commenting..
“We are delighted to receive this investment from LYVA labs. The investment process was rapid and straight forward, allowing us to keep a focus on developing the business. This investment will allow us to grow the team and accelerate our ‘Go to Market’ plan”
https://www.spotlightpathology.com/news/spotlight-pathology-secure-funding-from-lyva-labs/
Conclusion
The successful recruitment of Sam Perona as CEO was achieved through a strategic and well-coordinated approach. The collaboration between RMG and Spotlight, with Managing Director Giles Hampson leading the client engagement, and Principal Consultant Oliver Duke leading the candidate engagement. This successful placement of Sam builds on a working relationship Oliver and Sam have enjoyed for many years as he previously supported Sam’s original business as a specialist recruiter.