Lucid Diagnostics appoints healthcare veteran John Palumbo to board

NEW YORK - Lucid Diagnostics Inc. (NASDAQ:LUCD), a commercial-stage cancer prevention medical diagnostics company and subsidiary of PAVmed Inc. (NASDAQ:PAVM), announced Thursday the appointment of John R. Palumbo to its Board of Directors, effective September 22, 2025. According to InvestingPro data, PAVmed currently trades at $0.44 with a market capitalization of $9.35 million, reflecting challenging market conditions in the medical diagnostics sector.

Palumbo brings 40 years of healthcare leadership experience spanning early-stage ventures, growth companies, and Fortune 100 corporations. He most recently served as Executive Chairman of ValueHealth, a value-based surgical platform, where he led the company through a recapitalization in 2018 and a strategic investment in 2022.

His previous roles include senior executive positions at AmerisourceBergen Corporation (now Cencora, Inc.), Chief Operating Officer of Allscripts Healthcare Solutions, Inc., and President of I-trax, Inc. (now part of Premise Health Holding Corp.).

"I am honored to join the Lucid board at such a critical stage of its development," Palumbo said in the press release.

Lucid Diagnostics, a subsidiary of PAVmed Inc. (NASDAQ:PAVM), focuses on patients with gastroesophageal reflux disease who are at risk of developing esophageal precancer and cancer. The company’s EsoGuard Esophageal DNA Test and EsoCheck Esophageal Cell Collection Device are designed for early detection of esophageal precancer in at-risk patients. InvestingPro analysis reveals the parent company faces financial challenges, with a negative gross profit margin of -47.74% and revenue decline of -73.36% in the last twelve months. For deeper insights into PAVM’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.

Over the past 15 years, Palumbo has served as Board Chairman, Director, and Senior Advisor to various healthcare technology, services, and medical device companies. He currently serves on the boards of PM Pediatrics, ivWatch, and Qless, and chairs the Advisory Board of Brado.

The appointment comes as Lucid approaches what the company describes as transformational commercial milestones, according to the company’s statement. InvestingPro data indicates PAVmed faces significant challenges ahead, with analysts anticipating a sales decline in the current year. InvestingPro subscribers have access to 10 additional key insights and detailed financial metrics that can help evaluate the company’s growth potential.

In other recent news, Lucid Diagnostics announced a notable rise in revenue for the second quarter of 2025, primarily due to the success of its EsoGuard esophageal precancer test. The company is also focusing on strategic initiatives to broaden its reach within the Medicare market. These developments were highlighted during the company’s earnings call. Despite these positive financial results, the stock price did not show movement in pre-market trading. Analysts have not provided any recent upgrades or downgrades for Lucid Diagnostics. The company continues to concentrate on expanding its market presence and enhancing its product offerings. These recent updates reflect Lucid Diagnostics’ ongoing efforts to strengthen its position in the healthcare sector.

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