Joel Neoh, the founder of fintech firm Fave, has joined Hong Kong-based HealthTech firm Prenetics as Chief Consumer Officer and Managing Director for its consumer health business CircleDNA.

Danny Yeung, Chief Executive Officer and Co-founder of Prenetics, said, “In order to bolster the strategic advancement in consumer health, we are thrilled to add Joel to our executive leadership team. Joel and I have known each other for more than 12 years and were been colleagues since both of our previous companies were acquired by Groupon in 2010,”

“Joel’s proven track record as a successful serial entrepreneur and his deep consumer insights underscore our commitment to growing CircleDNA into a leading global consumer health business. I’m confident with Joel at the helm, significant growth lies ahead for CircleDNA. We also believe our vast efforts in consumer health will play a highly synergistic role in our early cancer detection initiatives, in which we are immensely excited about and will share more in due course.”

Neoh is a serial entrepreneur and technology executive with over 15 years of top-flight leadership and board experience. His experience in consumer technology spans sectors such as fintech, e-commerce, digital media, and health & wellness, according to a statement on Monday.

Most recently, Neoh was the founder of Fave, a Southeast Asian FinTech platform backed by Sequoia Capital and acquired by Pine Labs. Neoh has been instrumental in accelerating digital payments and financial services for millions of consumers and merchants.

Previously, he was the founder of GroupsMore, which was acquired by Groupon. While at Groupon, he headed up its Asia Pacific business, overseeing more than 2,000 employees. Neoh’s entrepreneurial journey started out by co-founding, one of Malaysia’s largest digital news platforms. He is also a Board Director for the Institute of Corporate Directors Malaysia, promoting excellence in corporate governance.

Neoh said, “My entrepreneurial journey to date has been immensely rewarding, driven by my passion for making a difference. After spending the past 15 years building various global consumer platforms, I feel compelled to give back to the community by positively influencing people’s health and showcasing the importance of prevention and health.”

Listed on NASDAQ after merging with Artisan Acquisition Corp, a blank cheque company founded by Adrian Cheng, Prenetics is a genomics and precision oncology company dedicated to transforming patient care through advanced genomic and molecular technologies. The company aims to revolutionize healthcare by integrating consumer health and genetics, breakthrough technology for early cancer detection, targeted treatments and genetic risk identification onto one comprehensive platform. Cheng, is the Executive Vice-Chairman and CEO of Hong Kong conglomerate New World Development Company Ltd.

Prenetics acquired ACT Genomics last December, the only Asia-based company to receive FDA clearance for a comprehensive genomics profiling test for solid tumors, enabling the company to expand its capabilities and offer comprehensive cancer solutions to patients worldwide.

According to its first quarter 2023 financial results, Prenetics reported a revenue of $17.7 million. Its adjusted EBITDA loss for the quarter stood at $5.7 million. Its cash and other short-term assets stood at $224.1 million as of March 31, 2023.

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