CombiMatrix Signs Contract With Stratose Networks Division, One of the Largest
Directly-Managed PPO Networks in U.S.
Will Provide Diagnostic Laboratory Services to Physicians, Hospitals, Large
IRVINE, Calif., July 22, 2014 (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 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."
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
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:
President & CEO, CombiMatrix Corporation
Tel (949) 753-0624
Senior Vice President
Russo Partners, LLC
Tel (212) 845-4226
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