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 1995
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: Mark McDonough President & CEO, CombiMatrix Corporation Tel (949) 753-0624 Investor Contact: Robert Flamm Senior Vice President Russo Partners, LLC Tel (212) 845-4226 Robert.firstname.lastname@example.org