Date: Dec 23, 2013 Source: Company Data (
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More Than 40 Million People Nationwide Gain Access to CombiMatrix's Diagnostic Solutions, Clinical Support
IRVINE, Calif., Dec. 23, 2013 (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 for coverage of its diagnostic laboratory services with FedMed, a national provider network and healthcare financial services organization.
FedMed, based in Gaithersburg, Maryland, has a preferred provider network that includes more than 550,000 physicians, 4,000 hospitals and 60,000 ancillary care providers nationwide. More than 40 million people have access to FedMed's preferred provider network.
The new contract with FedMed provides its members access to CombiMatrix's suite of molecular diagnostic solutions and comprehensive clinical support specializing in prenatal, miscarriage and pediatric healthcare.
"We believe this contract is another validation of our strategy to partner with nationally known and respected provider networks like FedMed, which connects us to a large group of physicians, hospitals and ancillary care providers," said CombiMatrix CEO Mark McDonough. "It also underscores the notion that physicians better understand the value of the services we offer their patients, particularly chromosomal microarray analysis or CMA. We expect the recent endorsement of CMA from the American College of Obstetricians and Gynecologists to continue to drive interest in our services."
About FedMed
FedMed is a National Provider Network and Healthcare Financial Services Organization. FedMed has developed innovative programs and services for the healthcare provider community in conjunction with large payors of healthcare services. FedMed's objective is to provide significant measurable benefits to providers not available from other provider networks and managed care organizations. Traditional networks and payors are eager to negotiate and take discounts, but less than eager to pay on time and quantify the value of their contracts. FedMed's programs have been created to specifically address these challenges. For more information about FedMed, visit www.fedmedinc.com.
About CombiMatrix Corporation
CombiMatrix Corporation provides valuable molecular diagnostic solutions and comprehensive clinical support for the highest quality of care — specializing in miscarriage analysis, prenatal and pediatric healthcare. CombiMatrix offers comprehensive testing services for the detection of genetic abnormalities at the DNA level, beyond what can be identified through traditional methodologies. The Company performs genetic testing utilizing advanced technologies, including microarray, FISH, PCR and G-Band chromosome analyses. Additional information about CombiMatrix is available at www.combimatrix.com or by calling 1-800-710-0624.
