COVER STORY | 2023 – Opportunities Abound!

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we also see increased demand across the organization –whether that be in blood services, including the IRL; tissue services, both cadaveric and birth tissue; apheresis services; testing services, both donor screening and cell therapy our team will feel that working here is both fulfilling and rewarding. testing; or bioproduction.

One area of improvement we are working on for 2023 is to create an on-campus health clinic for employees. We care about your health and wellness. You’ll hear more about this in the near future.

Generating a net operating surplus also allows us to increase our total compensation, and in 2023, we will be increasing our minimum wage for the second year in a row, to $16 an hour. Given compression adjustments, this change will increase the base pay for approximately 150 employees, or more than 20% of our workforce.

Still in 2022, we lost one of every five employees that we started the year with – we’d like to move that to one-insix, then one-in-seven, etc. We recognize that this work is challenging, and zero turnover is not possible, but we’ll keep working to get that reduced to a “best-in-class” level. Please continue to let us know where can improve.

We are well-positioned to grow in almost every area of the organization – our key challenge will be one of execution, and we’ll need each of you to help us be successful. In other words, during what many people are predicting will be a recessionary period, here at BioBridge Global, we should have plenty of work for everyone in the coming year – stick around!

2023 Goal: Achieve a voluntary turnover rate of less than 17% (vs. 19% in 2022)

As I embark on my seventh calendar year with this great organization, I believe we start with the best team, overall, that we’ve had during my tenure. You all continue to answer the call, and I am proud of your accomplishments and confident in your abilities.

Given this is probably the best team we’ve had, we’d like to have everyone stay around to help us continue to climb this mountain of success. When you build a successful team, you want to try and create an environment where the individual team members feel valued and empowered and have interesting things to work on. We certainly have interesting/ challenging things to work on.

And while we recognize that we’re not perfect on employee engagement and feedback, we continue to work on this so

2023 Goal: achieve targeted net promoter scores in each operating unit: STB&T/GenCure/BBG – 60, QualTex – 40

In 2022, we made great strides in customer satisfaction, and NPS scores improved across the board. We had three areas where our scores were in the Excellent category (“World Class” starts at 70 and includes companies like Amazon) and we moved our QualTex scores into the “Good” category, despite a significant increase in testing volumes that began in the middle of the year.

For 2023, we want to hold our “Excellent” scores and improve QualTex another 10 points to move solidly into the “Good” range. Keeping our production turnaround times at their current “best in class” levels should help us here, along with standardizing and improving our cell therapy testing turnaround times.

Having satisfied customers who would be willing to promote our services to others is critical to retaining our current customer base which will allow new sales to be additive to our results versus maintaining/sustaining.

2023 Goal: Achieve/exceed the 2023 budgeted consolidated net operating surplus of $4.3 million In 2022, we generated a net operating surplus for the third margins (stewardship).

As noted earlier, this operating surplus is used to finance needed capital expenditures, like the remodeling currently taking place in Hospital Services, and employee benefits like improved wage structures and an on-campus health clinic, as well as additional innovation through increased R&D resources and programs.

We think we can continue this strong stewardship into and through 2023, but we will need to continue to grow our mission and revenues to accomplish our goal.

Please join your teammates as we continue to climb this mountain of service/success. Let’s make 2023 our best year of service ever! n

1. Increase our blood collections

2. Expand our mission through revenue growth

3. Retain our valued employees

4. Retain our valued customers

5. Retain our valued customers year in a row – thank you and congratulations! We continue to work on operating efficiencies and value-based pricing – a strong combination when one is searching to improve