Renalytix AI PLC Partnership with America's Choice Provider Network (3201S)
08 July 2020 - 4:00PM
UK Regulatory
TIDMRENX
RNS Number : 3201S
Renalytix AI PLC
08 July 2020
Renalytix AI plc
("RenalytixAI", the "Company")
Partnership with America's Choice Provider Network for coverage
expansion
Expands access and coverage of KidneyIntelX(TM) into key regions
for commercial growth
Renalytix AI plc ( LSE: RENX), an artificial
intelligence-enabled in vitro diagnostics company focused on
optimizing clinical management of kidney disease to drive improved
patient outcomes and lower healthcare costs , announces that it has
signed an agreement to become a provider in the America's Choice
Provider Network (ACPN).
ACPN contracts directly with healthcare providers of all types
and specialties to establish simple and reliable healthcare access
and reimbursement arrangements. It is one of the largest preferred
provider networks in the United States with members and providers
in all 50 states and agreements with over 1700 payers. Under the
agreement, RenalytixAI will now be able to offer KidneyIntelX
testing to diabetic kidney disease patients among ACPN's more than
30 million members in the US.
This is an important step in RenalytixAI's strategy to put in
place the necessary framework in order to secure broad insurance
network coverage and, in turn, adoption of KidneyIntelX ahead of
its planned roll-out to additional health systems.
Todd Breeden, CEO of ACPN , said: "ACPN is very excited to
announce our new relationship with RenalytixAI. We are pleased to
offer their first of its kind KidneyIntelX test to help guide
chronic kidney disease care delivery. CKD is a significant
challenge faced by our network of providers, payers and members.
This test is uniquely positioned to potentially improve care and
outcomes and reduce healthcare spending. Our partnership with
RenalytixAI shows ACPN's commitment to add progressive, cutting
edge companies to our national provider network."
Thomas McLain, President and Chief Commercial Officer of
RenalytixAI, said: "We appreciate the opportunity to become one of
ACPN's preferred providers. Their network aligns well with the new
health systems targeted for our planned roll-out of KidneyIntelX,
and we believe it will support accelerated commercial adoption of
our test. Being an ACPN provider demonstrates the value of
KidneyIntelX testing to both clinicians and regional payers and
assures access across the ACPN members served by these health
systems. We look at this as a true partnership as we at RenalytixAI
share ACPN's commitment to offer the highest quality of healthcare
to their members."
For further information, please contact:
Renalytix AI plc www.renalytixai.com
James McCullough, CEO Via Walbrook PR
Stifel (Nominated Adviser & Broker) Tel: 020 7710 7600
Alex Price / Nicholas Moore
N+1 Singer (Joint Broker) Tel: 020 7496 3000
Aubrey Powell / George Tzimas (Corporate
Finance)
Tom Salvesen (Corporate Broking)
Walbrook PR Limited Tel: 020 7933 8780 or renalytix@walbrookpr.com
Paul McManus / Lianne Cawthorne Mob: 07980 541 893 / 07584 391
303
About America's Choice Provider Network
ACPN is an independent, multi-specialty provider network
accessed by over 1,700 payers that has developed a proprietary
network and technology for the purpose of achieving consistency in
healthcare transactions, simplifying claims adjudication processes,
creating reasonable reimbursement arrangements and establishing
reliable healthcare access for all parties; providers, payers and
patients. More than 24 million Americans and 750,000 international
lives have access to ACPN's network through a client base
consisting of Insurance Carriers, Third Party Administrators,
Health and Welfare Funds, Employer Groups and Self-Insured Health
Plans. For more information, please contact ACPN's COO, Seth
Breeden, at sethbreeden@acpnusa.com or visit www.acpnusa.com.
About RenalytixAI
RenalytixAI is a developer of artificial intelligence-enabled
clinical in vitro diagnostic solutions for kidney disease, one of
the most common and costly chronic medical conditions globally.
RenalytixAI's products are being designed to make significant
improvements in kidney disease diagnosis, transplant management,
clinical care, patient stratification for drug clinical trials, and
drug target discovery. For more information, visit
www.renalytixai.com .
About Kidney Disease
Kidney disease is now recognized as a public health epidemic
affecting over 850 million people globally. The Centers for Disease
Control and Prevention (CDC) estimates that 15% of US adults, or 37
million people, currently have chronic kidney disease (CKD).
Further, the CDC reports that 9 out of 10 adults with CKD do not
know they have it and 1 out of 2 people with very low kidney
function who are not on dialysis do not know they have CKD*. Kidney
disease is referred to as a "silent killer" because it often has no
symptoms and can go undetected until a very advanced stage. Each
year kidney disease kills more people than breast and prostate
cancer. Every day, 13 patients in the United States die while
waiting for a kidney transplant.
*
https://www.cdc.gov/kidneydisease/publications-resources/2019-national-facts.html
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are statements that are not historical facts, and in
some cases can be identified by terms such as "may," "will,"
"could," "expects," "plans, " "anticipates," and "believes." These
statements include, but are not limited to, statements regarding
the roll-out and adoption of KidneyIntelX and the potential
benefits of being a provider in ACPN . Any forward-looking
statements are based on management's current views and assumptions
and involve risks and uncertainties that could cause actual
results, performance or events to differ materially from those
expressed or implied in such statements. All information in this
press release is as of the date of the release, and RenalytixAI
undertakes no obligation to publicly update any forward-looking
statement, whether as a result of new information, future events,
or otherwise, except as required by law.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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