Rosetta Expands Managed Care Coverage with New Preferred Provider Agreement with Galaxy Health Network for Entire Suite of Di...
August 02 2016 - 8:15AM
Business Wire
Further Expands Patient Access to Rosetta’s
Differentiated Portfolio of Molecular Diagnostics including
RosettaGX Reveal™ for the Classification of Indeterminate Thyroid
Nodules
Rosetta Genomics Ltd. (NASDAQ: ROSG), a leading developer and
provider of microRNA-based and other molecular diagnostics, today
announces a new participation agreement with Preferred Provider
Organization (PPO), Galaxy Health Network, as a preferred
laboratory provider.
This new agreement, which covers more than 3.5 million members,
increases Rosetta’s participation as a preferred provider to more
than 166 million eligible contracted lives.
A PPO is a managed care organization of medical doctors,
hospitals and other health care providers that has covenanted with
an insurer or a third party administrator (TPA) to provide health
care at reduced rates to the insurer's or administrator's
clients.
“We are delighted to add Galaxy Health to our growing list of
established health insurance providers. This agreement is expected
to enhance both the timing and percentage of payments for our
testing services, which is a critical success factor on our path to
profitability,” noted Kenneth A. Berlin, President and Chief
Executive Officer of Rosetta Genomics. “We look forward to working
with the Galaxy Heath team and to continuing to execute additional
agreements such as this in order to broaden access to our growing
portfolio of molecular diagnostics and testing services.
“We are particularly pleased that this agreement will expand
patient access for RosettaGX Reveal™, our first-of-its-kind
microRNA classifier for indeterminate thyroid nodules. This new
patient access should enhance our commercial and our reimbursement
efforts both of which continue to gain significant traction in the
fast-growing molecular classification market for indeterminate
thyroid FNAs,” added Mr. Berlin.
About Galaxy Health Network
Galaxy Health Network, headquartered in Arlington, Texas,
is a national managed care provider with over 3.5 million covered
lives. Galaxy Health Network's Preferred Provider Organization
includes a network of over 400,000 contracted physicians, 2,700
hospitals and 47,000 ancillary providers – all directly contracted,
and brings together Managed Care Professionals with over five
decades of collective experience for the purpose of providing
expert assistance and guidance in the containment of medical
costs.
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. For more information
visit www.rosettagx.com.
Forward-Looking Statement Disclaimer
Various statements in this release concerning Rosetta’s future
expectations, plans and prospects including, but not limited to
statements relating to the enhancement of timing and percentage of
payments received for our testing services, our profitability, our
ability to add additional agreements and to broaden patient access
to our portfolio, and our enhancement of our commercial and
reimbursement efforts 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 most
recently filed Annual Report on Form 20-F, as filed with the 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/20160802005570/en/
Rosetta GenomicsKen Berlin, 267-298-1159President &
CEOinvestors@rosettagx.comorInvestors:LHAAnne Marie Fields,
212-838-3777afields@lhai.com
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