PHILADELPHIA & REHOVOT, Israel--(BUSINESS WIRE)--Rosetta Genomics Ltd. (NASDAQ:ROSG), a leading developer and provider of microRNA-based and other molecular diagnostics, announces that the Company has entered into an agreement with America’s Choice Provider Network (ACPN®), an independent multispecialty national provider network, that establishes health insurance access to Rosetta’s entire suite of diagnostic tests and services.
Under the terms of the agreement, Rosetta Genomics and CynoGen, Inc. (d/b/a PersonalizeDx), a Rosetta Genomics company, are established as ACPN preferred providers, and their proprietary miRNA testing services and entire menu of diagnostic tests and services will be covered by over 1,700 payers and will be available to more than 22 million members of ACPN.
“With the addition of ACPN to our growing list of established health insurance providers, more than 150 million Americans now have access to our entire suite of high-value diagnostic tests and services. This expanded patient access is an important component to bringing our products to physicians in order to aid in diagnoses, optimize treatment decisions, enable targeted therapy selections and facilitate treatment monitoring,” noted Kenneth A. Berlin, President and Chief Executive Officer of Rosetta Genomics. “This agreement comes at an opportune time, as we see continued growth in collections, including a record month of nearly $1 million in collections last month, along with anticipated increases to reimbursement amounts for some of our key FISH tests,” added Mr. Berlin.
"We are delighted to have Rosetta Genomics’ high-value diagnostic tests and services available to our members nationwide. Rosetta Genomics is a leader in molecular diagnostics and this partnership highlights our commitment to include progressive, cutting-edge companies and technologies in our national provider network," said Seth Breeden, Chief Operating Officer of ACPN.
“We are particularly pleased to expand patient access for RosettaGX Reveal, our recently-launched, first-of-its-kind microRNA classifier for indeterminate thyroid nodules. This new patient access brings the total number of covered lives for RosettaGX Reveal to over 150 million. This increased access, along with the potential health economic benefits RosettaGX Reveal can bring by avoiding unnecessary surgeries, creates prime conditions that should enhance adoption in a market opportunity valued at more than $350 million annually in the U.S. alone,” added Mr. Berlin
About America's Choice Provider Network
Founded in 2012, ACPN is an independent, multispecialty national provider network. Through its proprietary network and technology, ACPN offers access to providers, payers and patients in all 50 States, Canada, the Dominican Republic, Guam, Mexico, and Puerto Rico. ACPN's products include Individual and Group Health, Workers Compensation, Auto Liability, and Medicare Advantage. Its client base consists of Insurance Carriers, Third Party Administrators, Health and Welfare Funds, Self-Administered Employer Groups, Student Plans, Travel Plans, etc. ACPN's mission is to achieve consistency in healthcare transactions, simplify claims adjudication processes, create reasonable reimbursement arrangements, and establish reliable healthcare access for all parties—providers, payers and patients.
About Rosetta Genomics
Rosetta develops and commercializes a full range of microRNA-based and other molecular diagnostics. Rosetta’s integrative research platform combining bioinformatics and state-of-the-art laboratory processes has led to the discovery of hundreds of biologically validated novel human microRNAs. Building on its strong patent position and proprietary platform technologies, Rosetta is working on the application of these technologies in the development and commercialization of a full range of microRNA-based diagnostic tools. Through the acquisition of PersonalizeDx, the Company now offers core FISH, IHC and PCR-based testing capabilities and partnerships in Pathology, Oncology and Urology that provide additional content and platforms that complement Rosetta’s microRNA and Next-Gen Sequencing offerings. RosettaGX Reveal™, a Thyroid microRNA Classifier for the diagnosis of indeterminate thyroid FNA smears, as well as the full RosettaGX™ portfolio of cancer testing services are commercially available through the Company’s Philadelphia, PA- and Lake Forest, CA-based CAP-accredited, CLIA-certified labs, respectively. For more information visit www.rosettagx.com.
Rosetta Genomics Forward-Looking Statement Disclaimer
Various statements in this release concerning Rosetta’s future expectations, plans and prospects, including but not limited to statements that the new patient access provided by the agreement with ACPN will enhance market adoption of Rosetta’s tests and services, including RosettaGX Reveal, constitute forward-looking statements for the purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including those risks more fully discussed in the "Risk Factors" section of Rosetta’s Annual Report on Form 20-F for the year ended December 31, 2014 as filed with the Securities and Exchange Commission (SEC). In addition, any forward-looking statements represent Rosetta’s views only as of the date of this release and should not be relied upon as representing its views as of any subsequent date. Rosetta does not assume any obligation to update any forward-looking statements unless required by law.