CombiMatrix Announces Contract With Three Rivers Provider Network
Provides Access to Company's Suite of Molecular Tests to Additional 15 Million
Members in United States
IRVINE, Calif., Oct. 8, 2013 (GLOBE NEWSWIRE) -- 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 the health
insurer, Three Rivers Provider Network (TRPN), for coverage of its diagnostic
TRPN is an international network with a global arm called World PPO that
provides health care access to more than 100 million members, including 15
million in the U.S. These members now have access to CombiMatrix's suite of
molecular diagnostic solutions and comprehensive clinical support –
specializing in prenatal, miscarriage and pediatric healthcare.
"We are very happy to enhance our coverage for our members and the addition of
CombiMatrix's advanced diagnostic laboratory services is an important new
offering for us in the area of prenatal and pediatric health," said
Christopher Quintana, Chief Operating Officer for TRPN. "We look forward to
working closely with CombiMatrix."
CombiMatrix Chief Executive Officer Mark McDonough noted that the addition of
the extensive TRPN network is another milestone for the Company. The
partnership will also add new marketing and distribution support, he added.
McDonough said, "TRPN is a well-respected brand and now it has more extensive
coverage globally, which means much wider access to our entire portfolio of
testing services, including our CombiSNP chromosomal microarray test."
About Three Rivers Provider Network
Three Rivers Provider Network has evolved into the largest and fastest-growing
proprietary PPO network in the U.S. The TRPN network is comprised of more than
600,000 total providers, including more than 5,000 hospitals and 70,000
ancillary facilities. Through its clients, more than 15 million people have
access to the TRPN PPO network.
Coupled together with World PPO, the global arm of TRPN, they provide access
to some of the most internationally acclaimed healthcare providers
representing more than 1.5 million healthcare locations spanning the globe and
its combined membership accessing the healthcare network exceeds a global
population of 100 million. For more information please visit
About CombiMatrix Corporation
CombiMatrix Corporation provides valuable molecular diagnostic solutions and
comprehensive clinical support for the highest quality of care – specializing
in miscarriage analysis, prenatal and pediatric healthcare. CombiMatrix offers
comprehensive testing services for the detection of genetic abnormalities at
the DNA level, beyond what can be identified through traditional
methodologies. The Company performs genetic testing utilizing advanced
technologies, including microarray, FISH, PCR and G-Band chromosome analyses.
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
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 advantages and efficacy of CMA over
standard karyotyping.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 TRPN
members; market acceptance of CMA as a preferred method over karyotyping; the
rate of transition to CMA from karyotyping; 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:
President & CEO, CombiMatrix Corporation
Tel (949) 753-0624
VP, Media Relations
Allen & Caron
Tel (949) 474-4300
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