Rosetta Genomics Announces Agreement with America’s Choice Provider Network for Entire Suite of Diagnostic Tests and Services
February 01 2016 - 8:00AM
Business Wire
Provides access to more than 22 million
members
Includes RosettaGX Reveal™ for classification
of indeterminate thyroid nodules, increasing the covered lives for
this first-of-its kind assay to over 150 million
Rosetta Genomics Ltd. (NASDAQ:ROSG), a leading developer and
provider of microRNA-based and other molecular diagnostics,
announces that the Company has entered into an agreement with
America’s Choice Provider Network (ACPN®), an independent
multispecialty national provider network, that establishes health
insurance access to Rosetta’s entire suite of diagnostic tests and
services.
Under the terms of the agreement, Rosetta Genomics and CynoGen,
Inc. (d/b/a PersonalizeDx), a Rosetta Genomics company, are
established as ACPN preferred providers, and their proprietary
miRNA testing services and entire menu of diagnostic tests and
services will be covered by over 1,700 payers and will be available
to more than 22 million members of ACPN.
“With the addition of ACPN to our growing list of established
health insurance providers, more than 150 million Americans now
have access to our entire suite of high-value diagnostic tests and
services. This expanded patient access is an important component to
bringing our products to physicians in order to aid in diagnoses,
optimize treatment decisions, enable targeted therapy selections
and facilitate treatment monitoring,” noted Kenneth A. Berlin,
President and Chief Executive Officer of Rosetta Genomics. “This
agreement comes at an opportune time, as we see continued growth in
collections, including a record month of nearly $1 million in
collections last month, along with anticipated increases to
reimbursement amounts for some of our key FISH tests,” added Mr.
Berlin.
"We are delighted to have Rosetta Genomics’ high-value
diagnostic tests and services available to our members nationwide.
Rosetta Genomics is a leader in molecular diagnostics and this
partnership highlights our commitment to include progressive,
cutting-edge companies and technologies in our national provider
network," said Seth Breeden, Chief Operating Officer of
ACPN.
“We are particularly pleased to expand patient access for
RosettaGX Reveal, our recently-launched, first-of-its-kind microRNA
classifier for indeterminate thyroid nodules. This new patient
access brings the total number of covered lives for RosettaGX
Reveal to over 150 million. This increased access, along with the
potential health economic benefits RosettaGX Reveal can bring by
avoiding unnecessary surgeries, creates prime conditions that
should enhance adoption in a market opportunity valued at more than
$350 million annually in the U.S. alone,” added Mr. Berlin
About America's Choice Provider Network
Founded in 2012, ACPN is an independent, multispecialty national
provider network. Through its proprietary network and technology,
ACPN offers access to providers, payers and patients in all 50
States, Canada, the Dominican Republic, Guam, Mexico, and Puerto
Rico. ACPN's products include Individual and Group Health, Workers
Compensation, Auto Liability, and Medicare Advantage. Its client
base consists of Insurance Carriers, Third Party Administrators,
Health and Welfare Funds, Self-Administered Employer Groups,
Student Plans, Travel Plans, etc. ACPN's mission is to achieve
consistency in healthcare transactions, simplify claims
adjudication processes, create reasonable reimbursement
arrangements, and establish reliable healthcare access for all
parties—providers, payers and patients.
About Rosetta Genomics
Rosetta develops and commercializes a full range of
microRNA-based and other molecular diagnostics. Rosetta’s
integrative research platform combining bioinformatics and
state-of-the-art laboratory processes has led to the discovery of
hundreds of biologically validated novel human microRNAs. Building
on its strong patent position and proprietary platform
technologies, Rosetta is working on the application of these
technologies in the development and commercialization of a full
range of microRNA-based diagnostic tools. Through the acquisition
of PersonalizeDx, the Company now offers core FISH, IHC and
PCR-based testing capabilities and partnerships in Pathology,
Oncology and Urology that provide additional content and platforms
that complement Rosetta’s microRNA and Next-Gen Sequencing
offerings. RosettaGX Reveal™, a Thyroid microRNA Classifier for the
diagnosis of indeterminate thyroid FNA smears, as well as the full
RosettaGX™ portfolio of cancer testing services are commercially
available through the Company’s Philadelphia, PA- and Lake Forest,
CA-based CAP-accredited, CLIA-certified labs, respectively. For
more information visit www.rosettagx.com.
Rosetta Genomics Forward-Looking Statement Disclaimer
Various statements in this release concerning Rosetta’s future
expectations, plans and prospects, including but not limited
to statements that the new patient access provided by the
agreement with ACPN will enhance market adoption of Rosetta’s tests
and services, including RosettaGX Reveal, constitute
forward-looking statements for the purposes of the safe harbor
provisions under The Private Securities Litigation Reform Act of
1995. Actual results may differ materially from those indicated by
these forward-looking statements as a result of various important
factors, including those risks more fully discussed in the "Risk
Factors" section of Rosetta’s Annual Report on Form 20-F for the
year ended December 31, 2014 as filed with the Securities and
Exchange Commission (SEC). In addition, any forward-looking
statements represent Rosetta’s views only as of the date of this
release and should not be relied upon as representing its views as
of any subsequent date. Rosetta does not assume any obligation to
update any forward-looking statements unless required by law.
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version on businesswire.com: http://www.businesswire.com/news/home/20160201005341/en/
Rosetta Genomics:Ken Berlin, 267-298-1159President &
CEOinvestors@rosettagenomics.comorRosetta Genomics
Investors:LHAAnne Marie Fields,
212-838-3777afields@lhai.com
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