IRVINE, Calif. and HERSTAL, Belgium, Dec. 2, 2013 (GLOBE NEWSWIRE) -- MDxHealth SA (NYSE Euronext: MDXH), a leading molecular diagnostic company that develops and commercializes epigenetic tests to improve the diagnosis and treatment of cancer patients, today announced that it has signed agreements with HealthSmart, a Preferred Provider Organization (PPO) network, and Fortified Provider Network to provide their members access to the ConfirmMDx® for Prostate Cancer test. The addition of these agreements extends ConfirmMDx for Prostate Cancer testing to more than 135 million insurance covered lives throughout the U.S.
"We continue to expand our relationships with insurance and specialty payor networks, thereby increasing access to our ConfirmMDx test. Insurance providers recognize that ConfirmMDx provides physicians with actionable information that helps improve patient care and that avoidance of unnecessary repeat prostate biopsies reduces spending associated with these invasive procedures," said Dr. Jan Groen, CEO of MDxHealth. "We are delighted with the increasing adoption of our ConfirmMDx test, and believe it demonstrates the clinical value of the test for the management of patients caught in PSA limbo."
Fortified Provider Network ("FPN") is a national direct-contracted preferred provider network. FPN's select provider network is utilized by self-funded employer groups, insurance carriers and regional and local provider networks that process end-user patient claims. FPN offers the utilization of its network to its more than 200 payor clients and members who, in turn, are able to capitalize on the discounted fee schedules FPN has negotiated with its healthcare providers. FPN contracts with physicians, hospitals, ancillary facilities, mid-level providers and other specialty healthcare providers who have the option of participating in one or more of our products (group health, workers compensation or auto liability).
HealthSmart is a group of managed healthcare companies dedicated to providing comprehensive and innovative healthcare solutions to meet client needs. HealthSmart offers an inventory of wholly-owned products and services to employers, payors, and third party administrators with its Preferred Provider Organization (PPO) networks, especially in the areas of cost containment, provider network management, utilization review, pre-certification and other management services. HealthSmart aids providers with increased patient flow, patient base stability and expedited claims processing. HealthSmart owns several PPO networks that serve a variety of needs: ACCEL Network, HealthSmart Preferred Care, High Performance Network, HealthSmart Payors Organization, HealthSmart National, Workers Compensation Network, Ancillary Care Services, Auto Medical Network, HealthSmart Dental Network, and HealthSmart GEPO.
Over 975,000 American men are diagnosed with a negative prostate biopsy each year; however approximately 25-35% of those men receive false-negative results. Under the current standard of care, prostate biopsy procedures consisting of 10-12 needle biopsy cores only sample approximately 1% of a man's prostate. This approach leaves men at risk of occult cancer, leading to a high rate of repeat biopsies, often on cancer-free men. There is an unmet medical need for a clinically effective diagnostic test to address this dilemma. ConfirmMDx for Prostate Cancer is able to detect an epigenetic field effect or 'halo' associated with the cancerization process at the DNA level. This "halo" around a cancer lesion can be present despite cells having a normal appearance under the microscope. Thus ConfirmMDx for Prostate Cancer aids urologists in identifying truly negative men who may forego an unnecessary repeat biopsy procedure.
MDxHealth is a leading molecular diagnostic company that develops and commercializes epigenetic tests to support cancer treatment. The company's tests are based on proprietary gene methylation (epigenetics) technology and assist physicians with the diagnosis of cancer, prognosis of recurrence risk, and prediction of response to a specific therapy. For more information visit mdxhealth.com and follow us on Twitter at: twitter.com/mdxhealth.
For more information:
|Dr. Jan Groen, CEO||Mike Sinclair||Matt Clawson|
|MDxHealth||Halsin Partners||Allen & Caron, Inc|
|US: +1 949 812 6979||UK: +44 20 7318 2955||US: +1 949 474 4300|
|BE: +32 4 364 20 70||Cell:+44 7968 022075|
This press release contains forward-looking statements and estimates with respect to the anticipated future performance of MDxHealth and the market in which it operates. Such statements and estimates are based on assumptions and assessments of known and unknown risks, uncertainties and other factors, which were deemed reasonable but may not prove to be correct. Actual events are difficult to predict, may depend upon factors that are beyond the company's control, and may turn out to be materially different. MDxHealth expressly disclaims any obligation to update any such forward-looking statements in this release to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based unless required by law or regulation. This press release does not constitute an offer or invitation for the sale or purchase of securities or assets of MDxHealth in any jurisdiction. No securities of MDxHealth may be offered or sold within the United States without registration under the U.S. Securities Act of 1933, as amended, or in compliance with an exemption therefrom, and in accordance with any applicable U.S. securities laws.
NOTE: The MDxHealth logo, MDxHealth, ConfirmMDx and PredictMDx are trademarks or registered trademarks of MDxHealth SA. All other trademarks and service marks are the property of their respective owners.
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