Response Genetics, Inc. Announces Payor Contract With Fortified Provider
LOS ANGELES, Oct. 2, 2013 (GLOBE NEWSWIRE) -- Response Genetics, Inc.
(Nasdaq:RGDX), a company focused on the development and sale of molecular
diagnostic tests that help determine a patient's response to cancer therapy,
today announced that it has executed an agreement with Fortified Provider
Network, Inc. and will join its network of preferred providers. This latest
agreement marks Response's seventh health care payor agreement this year and
brings its access to over 97 million people nationally.
With the execution of this agreement, approximately 4.1 million members
associated with over 200 health insurers, self-funded employers and other
payors of health care services will be able to access Response Genetics' suite
of molecular predictive testing at a discounted rate. Response Genetics'
predictive genomic testing is targeted to patients battling lung, colon,
gastric, and melanoma cancers. The results from Response Genetics' testing
services give treating physicians actionable information that enable the best
therapy to be employed on that specific patient's tumor. The precise nature of
Response Genetics' services brings with them a value proposition that is
expected to improve patient outcomes and enhance efficiencies in health care
About Response Genetics, Inc.
Response Genetics, Inc. (the "Company") is a CLIA-certified clinical
laboratory focused on the development and sale of molecular diagnostic testing
services for cancer.The Company's technologies enable extraction and analysis
of genetic information derived from tumor cells stored as formalin-fixed and
paraffin-embedded specimens.The Company's principal customers include
oncologists and pathologists.In addition to diagnostic testing services, the
Company generates revenue from the sale of its proprietary analytical
pharmacogenomic testing services of clinical trial specimens to the
pharmaceutical industry.The Company's headquarters is located in Los Angeles,
California.For more information, please visit www.responsegenetics.com.
About Fortified Provider Network
Based in Scottsdale, Arizona, Fortified Provider Network (FPN) was founded in
1997 for the purpose of creating an all-direct-contracted network of preferred
providers for its group health clients. Given FPN's superior results in the
group health arena, FPN expanded over the years to offer workers' compensation
and auto liability networks. FPN offers the utilization of its network to its
payor clients and members who, in turn, are able to capitalize on the
discounted fee schedules FPN has negotiated with its healthcare providers.
Forward-Looking Statement Notice
Except for the historical information contained herein, this press release and
the statements of representatives of the Company related thereto contain or
may contain, among other things, certain forward-looking statements, within
the meaning of the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements involve significant risks and
uncertainties.Such statements may include, without limitation, statements
with respect to the Company's plans, objectives, projections, expectations and
intentions, such as the ability of the Company, to provide clinical testing
services to the medical community, to continue to strengthen and expand its
sales force, to continue to build its digital pathology initiative, to attract
and retain qualified management, to continue to strengthen marketing
capabilities, to expand the suite of ResponseDX® products, to continue to
provide clinical trial support to pharmaceutical clients, to enter into new
collaborations with pharmaceutical clients, to enter into areas of companion
diagnostics, to continue to execute on its business strategy and operations,
to continue to analyze cancer samples and the potential for using the results
of this research to develop diagnostic tests for cancer, the usefulness of
genetic information to tailor treatment to patients, and other statements
identified by words such as "project," "may," "could," "would," "should,"
"believe," "expect," "anticipate," "estimate," "intend," "plan" or similar
These statements are based upon the current beliefs and expectations of the
Company's management and are subject to significant risks and uncertainties,
including those detailed in the Company's filings with the Securities and
Exchange Commission.Actual results, including, without limitation, actual
sales results, if any, or the application of funds, may differ from those set
forth in the forward-looking statements.These forward-looking statements
involve certain risks and uncertainties that are subject to change based on
various factors (many of which are beyond the Company's control).The Company
undertakes no obligation to publicly update forward-looking statements,
whether because of new information, future events or otherwise, except as
required by law.
CONTACT: Investor Relations Contact:
Thomas A. Bologna
Chairman & Chief Executive Officer
Response Genetics Logo
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