Atlanta 11/16/2013 4:00:00 AM
News / Stocks

Response Genetics, Inc. (RGDX) Closes New Payor Contracts with Four National PPO Networks

MissionIR would like to highlight Response Genetics, Inc. (NASDAQ: RGDX). The company was founded to leverage breakthrough, patented technology for the extraction and analysis of genetic information to help physicians make informed treatment decisions. The company has proprietary tests and panels for lung, colon, gastric cancer, and melanoma.

In the company’s news,

•    Response Genetics, a company focused on molecular diagnostic testing services for cancer, announced the recent closing of new payor contracts with four national preferred provider organization (PPO) networks. These four new provider agreements are with America’s Choice Provider Network LLC, FedMed, Inc., Galaxy Health Network, and Prime.

•    Through these PPO network agreements, Response Genetics’ full suite of precision genetics services are now offered to the health plans, self-insured employers, third party administrators, and other clients participating in these networks. Throughout the United States, Response Genetics can now access 54 million additional people through these new contractual relationships. These new PPO network contracts bring the company’s total to six new such contracts forged this year, opening access to more than 135 million Americans in all.

•    The predictive genomic testing provided by Response Genetics is chiefly targeted at patients with lung, colon, gastric, and melanoma cancers. The results generated by these testing services give actionable information to treating physicians, guiding therapeutic decisions and allowing for the best therapy on a patient’s specific tumor. The precision of Response Genetics’ services offers a value proposition that is anticipated to improve patient outcomes, boost efficiencies and reduce costs associated with delivering optimal healthcare.

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Forward-Looking Statement:

This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.