CombiMatrix Signs Contract With Stratose Networks Division, One of the Largest Directly-Managed PPO Networks in U.S.
22 July 2014 - 10:00PM
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 Stratose for
coverage of CombiMatrix's diagnostic laboratory services.
Stratose, based in Atlanta, GA, maintains one of the largest and
growing directly managed PPO networks in the U.S., including more
than 850,000 direct and affiliate medical, dental and workers'
compensation provider contract. These members will now have access
to CombiMatrix's suite of molecular diagnostic solutions and
comprehensive clinical support specializing in prenatal,
miscarriage and pediatric healthcare.
Mark McDonough, president and chief executive officer of
CombiMatrix, says, "Our partnership with Stratose is another
example of the value our health plan customers place on our
service-oriented testing model. Through this agreement, millions of
Stratose PPO members will now have access to our entire portfolio
of testing services, including our CombiSNP™ chromosomal microarray
test (CMA). We look forward to providing them this service."
About Stratose
Stratose is a marketplace leader, providing comprehensive
solutions for managing healthcare costs. Stratose utilizes
proprietary technology and a suite of products and services to
deliver industry leading discounts on medical, dental and workers'
compensation billings by accessing direct provider contracts, PPO
networks, provider negotiations, proprietary re-pricing including
Medicare, to achieve industry leading savings for its national
client base. Learn more at www.stratose.com.
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 miscarriage
analysis, prenatal testing 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 and
include, but are not limited to, statements regarding the access to
our services for Stratos Networks Division. 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 Stratos Networks Division; market
acceptance of CMA as a superior method of molecular diagnostic
testing; 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
Investor Contact:
Robert Flamm
Senior Vice President
Russo Partners, LLC
Tel (212) 845-4226
Robert.flamm@russopartnersllc.com
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