Mallory is 2013 Virginia Business Person of the Year
Wednesday, November 27, 2013
Tonya Mallory, CEO of Heatlh Diagnostic Laboratory (HDL) has been named 2013 Virginia Business Person of the Year by Virginia Business Magazine. This honor adds to the many accolades that she and the company have received over the past few years, including last year's win of one of the country’s most prestigious business awards for entrepreneurs, the Ernst & Young National Entrepreneur of the Year award in the Emerging Company category.
She founded HDL in the summer of 2009. Since then, it has grown from a kitchen-table business plan to a corporation earning more than $420 million in annual revenue, employing 750 people, processing 4,000 lab samples and running more than 60,000 lab tests each day. HDL has driven near constant construction at its home in downtown Richmond’s Virginia BioTechnology Research Park, where a $68.5 million expansion soon will triple the company’s footprint to 280,000 square feet, according to Virginia Business.
HDL’s primary revenue stream comes from a panel of comprehensive lab tests that allow early detection of cardiovascular disease, diabetes, metabolic syndrome and fatty liver disease. In October, HDL acquired the assets of a British company that produces a blood test for early detection of lung cancer.
An independent study published in September in the health-care journal Population Health Management found that HDL’s testing and coaching reduced patients’ health-care costs by an average 23 percent over a two-year period and also improved patients’ lipid profiles.
Jeffrey Gallagher, CEO of the Virginia Biotechnology Association, says Mallory is an inspiration to others in the industry. Biotech entrepreneurs in Virginia routinely talk about wanting to be "the next Tonya,” he says. "She’s been a terrific champion of research and commercialization of innovation and entrepreneurship. … She’s just been an inspiration to us all. … This is a very difficult way of life, to do the research that might not have any friction for years or to start companies or products that are going to have a 10- to 15-year path to get to the marketplace, and I can’t underscore strongly enough how … [HDL’s success] fuels them and keeps people going.”
Click here to view the full Virginia Business Magazine profile.