CombiMatrix Announces Contract With Three Rivers Provider Network
October 08 2013 - 5:00AM
CombiMatrix Corporation (Nasdaq:CBMX), a molecular diagnostics
company specializing in DNA-based testing services for
developmental disorders and cancer diagnostics, today announced
that it has entered into a contractual agreement with the health
insurer, Three Rivers Provider Network (TRPN), for coverage of its
diagnostic laboratory services.
TRPN is an international network with a global arm called World
PPO that provides health care access to more than 100 million
members, including 15 million in the U.S. These members now have
access to CombiMatrix's suite of molecular diagnostic solutions and
comprehensive clinical support – specializing in prenatal,
miscarriage and pediatric healthcare.
"We are very happy to enhance our coverage for our members and
the addition of CombiMatrix's advanced diagnostic laboratory
services is an important new offering for us in the area of
prenatal and pediatric health," said Christopher Quintana, Chief
Operating Officer for TRPN. "We look forward to working closely
with CombiMatrix."
CombiMatrix Chief Executive Officer Mark McDonough noted that
the addition of the extensive TRPN network is another milestone for
the Company. The partnership will also add new marketing and
distribution support, he added.
McDonough said, "TRPN is a well-respected brand and now it has
more extensive coverage globally, which means much wider access to
our entire portfolio of testing services, including our CombiSNP
chromosomal microarray test."
About Three Rivers Provider Network
Three Rivers Provider Network has evolved into the largest and
fastest-growing proprietary PPO network in the U.S. The TRPN
network is comprised of more than 600,000 total providers,
including more than 5,000 hospitals and 70,000 ancillary
facilities. Through its clients, more than 15 million people have
access to the TRPN PPO network.
Coupled together with World PPO, the global arm of TRPN, they
provide access to some of the most internationally acclaimed
healthcare providers representing more than 1.5 million healthcare
locations spanning the globe and its combined membership accessing
the healthcare network exceeds a global population of 100 million.
For more information please visit www.worldnewsmd.com
About CombiMatrix Corporation
CombiMatrix Corporation provides valuable molecular diagnostic
solutions and comprehensive clinical support for the highest
quality of care – specializing in miscarriage analysis, prenatal
and pediatric healthcare. CombiMatrix offers comprehensive testing
services for the detection of genetic abnormalities at the DNA
level, beyond what can be identified through traditional
methodologies. The Company performs genetic testing utilizing
advanced technologies, including microarray, FISH, PCR and G-Band
chromosome analyses. Additional information about CombiMatrix is
available at www.combimatrix.com or by calling 1-800-710-0624.
Safe Harbor Statement under the Private Securities
Litigation Reform Act of 1995
This press release contains forward-looking statements within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. These statements are
based upon our current expectations, speak only as of the date
hereof and are subject to change. All statements, other than
statements of historical fact included in this press release, are
forward-looking statements. Forward-looking statements can
often be identified by words such as "anticipates," "expects,"
"intends," "plans," "goal," "predicts," "believes," "seeks,"
"estimates," "may," "will," "should," "would," "could,"
"potential," "continue," "ongoing," "objective," similar
expressions, and variations or negatives of these words and
include, but are not limited to, statements regarding the
advantages and efficacy of CMA over standard
karyotyping. These forward-looking statements are not
guarantees of future results and are subject to risks,
uncertainties and assumptions that could cause our actual results
to differ materially and adversely from those expressed in any
forward-looking statement. The risks and uncertainties
referred to above include, but are not limited to: use of our
services by TRPN members; market acceptance of CMA as a preferred
method over karyotyping; the rate of transition to CMA from
karyotyping; our ability to successfully expand the base of our
customers and strategic partners, add to the menu of our diagnostic
tests in both of our primary markets, develop and introduce new
tests and related reports, optimize the reimbursements received for
our testing services, and increase operating margins by improving
overall productivity and expanding sales volumes; our ability to
successfully accelerate sales, allow access to samples earlier in
the testing continuum, steadily increase the size of our customer
rosters in both developmental medicine and oncology; our ability to
attract and retain a qualified sales force; rapid technological
change in our markets; changes in demand for our future products;
legislative, regulatory and competitive developments; general
economic conditions; and various other factors. Further
information on potential factors that could affect our financial
results is included in our Annual Report on Form 10-K, Quarterly
Reports of Form 10-Q, and in other filings with the Securities and
Exchange Commission. We undertake no obligation to revise or
update publicly any forward-looking statements for any reason,
except as required by law.
CONTACT: Company Contact:
Mark McDonough
President & CEO, CombiMatrix Corporation
Tel (949) 753-0624
Media Contact:
Len Hall
VP, Media Relations
Allen & Caron
Tel (949) 474-4300
len@allencaron.com
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