PHILADELPHIA, Pennsylvania, REHOVOT, Israel, and ST. PETERSBURG, Florida (October 12, 2017) – Rosetta Genomics Ltd. (NASDAQ: ROSG), a genomic diagnostics company that improves treatment decisions by providing timely and accurate diagnostic information to physicians, and MediNcrease Health Plans, LLC, a national provider network and provider advocacy firm, announce an agreement making the RosettaGX™ Reveal (Reveal), Thyroid microRNA classifier and its other testing services accessible through MediNcrease’s client base of regional and national health plans, insurance companies, employers, municipalities, third-party administrators, unions and other companies involved in the management of medical claims.
“We are thrilled to welcome Rosetta Genomics to the MediNcrease Provider Network and make its specialized RosettaGX™ platform of tests, including its cutting edge Reveal assay, available to our partners,” said Linda Plaster, Chief Executive Officer of MediNcrease Health Plans. “This exciting relationship affirms MediNcrease’s continued commitment to expanding our specialty lab network and increasing the accessibility of cutting-edge diagnostic services to our partners.”
“We are pleased to become a provider for MediNcrease and its partners,” said Kenneth A. Berlin, President and Chief Executive Officer of Rosetta Genomics. “MediNcrease offers innovative payment solutions which benefit both payers and providers and aligns with our goals for increasing patient access to the Reveal assay. Increasing the number of managed care agreements that apply to our cutting edge Reveal assay is a key strategic objective for Rosetta as we remain committed to providing greater patient access to this important assay. Our Reveal assay, with its high Negative Predictive Value and a specificity that is higher than the market leader’s assay, allows physicians to confidently elect to forego surgery in cases where the Reveal assay provides a negative result, which can help improve outcomes for patients and payers
About MediNcrease Health Plans
MediNcrease is a uniquely positioned national provider network and provider advocacy firm servicing the commercial health, workers’ compensation and auto medical markets. Its advanced provider network and negotiation solutions not only help facilitate millions of dollars in expedited payments to providers each year, but also provide medical payers with dramatically improved savings and service over traditional PPO networks. The result is a 100% defensible and transparent solution for both providers and payers. For more information, please visit the company’s website at http://medincrease.com.
About Rosetta Genomics
Rosetta is pioneering the field of molecular diagnostics by offering rapid and accurate diagnostic information that enables physicians to make more timely and informed treatment decisions to improve patient care. Rosetta has developed a portfolio of unique diagnostic solutions for oncologists, urologists, endocrinologists, cytopathologists and other specialists to help them deliver better care to their patients. RosettaGX RevealTM, a Thyroid microRNA Classifier for classifying indeterminate thyroid nodules, 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. For more information, please visit the company’s website at http://rosettagx.com.
Rosetta’s Forward-Looking Statement Disclaimer
Various statements in this release concerning Rosetta’s future expectations, plans and prospects including, but not limited to statements relating to our belief that a negative Reveal result may help improve outcomes for patients and payers and statements containing the words “expect,” “believe,” “will,” “may,” “should,” “project,” “estimate,” “anticipated,” “scheduled,” and like expressions, and the negative thereof, 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 risks and uncertainties, including, but are not limited to the following: we will require substantial additional funds to continue our operations and, if additional funds are not available, we may need to significantly scale back or cease our operations; we have a history of losses and may never be profitable; if we are unable to expand sales of our diagnostic tests in the United States, it would have a material adverse effect on our business and financial condition; if we are unable to find profitable strategic alternatives for our PersonalizeDx diagnostic testing and services business, it would have a material adverse effect on our business and financial condition; the intensely competitive biotechnology market could diminish demand for our tests and products; the market may not be receptive to any diagnostic tests or therapeutic products using our microRNA technology; we currently have limited sales, marketing or distribution experience and may in the future depend significantly on third parties to commercialize microRNA-based diagnostic tests or therapeutic products we may develop; we are largely dependent upon our distributors for the success of commercialization of our current diagnostic tests; health insurers and other third-party payors may decide not to cover our diagnostic products or may provide inadequate reimbursement, which could jeopardize our commercial prospects; because of Medicare billing rules, we may not receive reimbursement for all tests provided to Medicare patients; if we fail to comply with our obligations under any licenses or related agreements, we could lose license rights that may be necessary for developing microRNA-based diagnostics and therapeutics; if we fail to comply with the complex federal, state, local and foreign laws and regulations that apply to our business, we could suffer severe consequences that could materially and adversely affect our operating results and financial condition; we contract with a single manufacturer for the purchase of microarray chips for certain tests, and the failure of this manufacturer to supply sufficient quantities on a timely basis could have a material adverse effect on our business; and other risk factors discussed under the heading “Risk Factors” in Rosetta’s most recently filed Annual Report on Form 20-F, as filed with the 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.
MediNcrease Media Contact:
Tom Tharp, COO
Phone (855) 369-3923
Rosetta Genomics Media Contact:
Ken Berlin, President & CEO
Phone (267) 298-1159
Rosetta Genomics Investor Relations Contact:
Anne Marie Fields, LHA Investor Relations
Phone (212) 838-3777