CareDx (CDNA) Goldman Sachs 47th Annual Global Healthcare Conference 2026 summary

Strategic transformation and portfolio focus

• Shifted focus to precision diagnostics, divesting lab products to concentrate on testing services, digital solutions, and pharmacy, all synergistic with core competencies.

• Acquired Naveris to expand into viral-mediated cancer MRD, leveraging its market leadership and de-risked asset profile with existing Medicare coverage.

• Reinvested $160 million from the lab products divestiture directly into the Naveris acquisition, aligning with a higher-margin, U.S.-focused CLIA business.

• Emphasized evidence generation, clinical belief-building, and workflow optimization as commercial strategies.

Growth drivers and pipeline development

• Naveris expected to drive 30%-40% revenue growth over the next three years, with significant catalysts in new MRD indications and aid-to-diagnosis applications.

• AlloHeme, targeting AML relapse detection, demonstrated strong sensitivity and specificity in the ACROBAT study; commercial launch planned for Q1 2027, with reimbursement targeted for 2028.

• Ongoing expansion of AlloSure into liver transplantation, addressing unmet needs as transplant volumes grow.

• Focused on deeper penetration in existing transplant centers, driving 17% year-over-year testing volume growth despite flat market conditions.

Financial outlook and operational initiatives

• Targeting mid-70% long-term margins for Naveris, with operational efficiencies expected from scale and integration.

• Revenue cycle management improvements aim to increase average payment per test to $2,000, up from $1,460 by year-end.

• Epic EMR integrations underway, with anticipated uplift in test volumes as more centers are onboarded.

• Long-range plan targets 20% EBITDA margin, supported by lab information system consolidation and software-driven operational enhancements.

• Balanced capital allocation between organic growth, share repurchases, and disciplined M&A, with a new $100 million buyback authorization.