CombiMatrix Appoints Lale White to Board of Directors
March 16 2015 - 8:00AM
CombiMatrix Corporation (Nasdaq:CBMX), a molecular diagnostics
company specializing in DNA-based testing services for pre- and
postnatal developmental disorders, today announced that veteran
healthcare executive Lâle White has been appointed to the
CombiMatrix Board of Directors, effective March 12, 2015. White
fills a current vacancy on the CombiMatrix Board, which is now made
up of six directors following White's appointment.
White, who is CEO of XIFIN, Inc., is a nationally recognized
expert in the field of healthcare financial management and
regulatory compliance, with over 25 years of experience in
information systems development and medical billing. She lectures
extensively on these topics and has consulted for major
laboratories and laboratory associations throughout the U.S. White
worked with HCFA and the U.S. Office of the Inspector General to
develop the first OIG Model Compliance Program. She is a member of
the Board of Directors of bioTheranostics, part of the worldwide
bioMerieux group, and is a longstanding member of the California
Clinical Lab Association, where for the last eight years she has
chaired the state and federal contractor committees that work with
the Medicare Administrative Contractors and the Department of
Health and Human Services.
White was previously vice president - finance of Laboratory
Corporation of America, one of the largest clinical reference
laboratories in the U.S., and its predecessor National Health
Laboratories, where she led the software development of several
accounts receivable, inventory, cost accounting and financial
management systems for the laboratory industry. White has a BA in
finance and an MBA from Florida International University.
"We are very pleased to welcome Lâle to our Board at this
exciting time for CombiMatrix," said Mark McDonough, President and
Chief Executive Officer of CombiMatrix. "The prenatal molecular
diagnostic market is growing rapidly, and we are very focused on
continuing to grow our business through increased utilization and
improved reimbursement. We are committed to our strategy to
have third-party payors reimburse us for the medically necessary
tests we run that daily provide physicians, patients, and families
with critical and meaningful diagnostic information. We
believe that Lâle's wealth of healthcare experience coupled with
her vast expertise in medical billing and reimbursement will be
especially valuable to us as we continue to execute on our
commercial plan. We look forward to working closely with Lâle
during this important stage of our company's growth."
About CombiMatrix Corporation
CombiMatrix Corporation provides valuable molecular diagnostic
solutions and comprehensive clinical support to foster the highest
quality in patient care. CombiMatrix specializes in
pre-implantation genetic screening (PGS), prenatal diagnosis,
miscarriage analysis, and pediatric genetics, offering DNA‑based
testing for the detection of genetic abnormalities beyond what can
be identified through traditional methodologies. CombiMatrix
performs genetic testing utilizing a variety of advanced
cytogenomic techniques, including chromosomal microarray,
standardized and customized fluorescence in situ hybridization
("FISH") and high-resolution karyotyping. CombiMatrix is dedicated
to providing high-level clinical support for healthcare
professionals in order to help them incorporate the results of
complex genetic testing into patient-centered medical decision
making. 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. 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: the risk that reimbursement trends do not improve; 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 pre- and postnatal
genetic medicine; 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
Investor Contact:
Robert Flamm, Ph.D.
Russo Partners, LLC
(212) 845-4226
robert.flamm@russopartnersllc.com
Media Contact:
David Schull or Lena Evans
Russo Partners LLC
(212) 845-4271 or (212) 845-4262
david.schull@russopartnersllc.com
lena.evans@russopartnersllc.com
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