Many Americans are struggling with high out-of-pocket costs for health care.
LOS ANGELES, July 8, 2013 (GLOBE NEWSWIRE) -- Response Genetics, Inc. (Nasdaq:RGDX), a company focused on the development and sale of molecular diagnostic tests that help determine a patient's response to cancer therapy, today announced that it has recently executed a provider contract with Blue Cross and Blue Shield of Illinois. Blue Cross and Blue Shield of Illinois has 7.4 million members, most of whom are located in the State of Illinois.
With the execution of this agreement, oncologists and pathologists affiliated with this health plan now have the ability to more easily offer Response Genetics' suite of molecular predictive testing for their patients battling lung, colon, gastric, and melanoma cancers. Response Genetics' tests provide treating physicians with actionable information that help enable the best therapy to be employed for each individual patient. The personalized medicine inherent in Response Genetics' testing services brings with it a value proposition that is expected to improve patient outcomes and as a result enhance efficiencies in health care delivery.
The contract with this Blue Cross Blue Shield Association affiliate complements Response Genetics' existing managed care network and gives the CLIA-licensed lab access to millions of additional Blue Cross Blue Shield-insured members located primarily in Illinois and the Midwestern United States. Blue Cross and Blue Shield of Illinois is the oldest and largest health plan based in Illinois.
About Blue Cross and Blue Shield of Illinois
Blue Cross and Blue Shield of Illinois ("BCBSIL"), a division of Health Care Service Corporation, a Mutual Legal Reserve Company, is the largest health insurance company in Illinois. Started in 1936, BCBSIL remains member owned rather than publicly traded and is committed to promoting the health and wellness of its members and its communities, fostering greater access to care, and working to lower the overall cost of care while improving the health care quality and patient outcomes.
About Response Genetics, Inc.
Response Genetics, Inc. (the "Company") is a CLIA-certified clinical laboratory focused on the development and sale of molecular diagnostic testing services for cancer. The Company's technologies enable extraction and analysis of genetic information derived from tumor cells stored as formalin-fixed and paraffin-embedded specimens. The Company's principal customers include oncologists and pathologists. In addition to diagnostic testing services, the Company generates revenue from the sale of its proprietary analytical pharmacogenomic testing services of clinical trial specimens to the pharmaceutical industry. The Company's headquarters is located in Los Angeles, California. For more information, please visit www.responsegenetics.com.
Forward-Looking Statement Notice
Except for the historical information contained herein, this press release and the statements of representatives of the Company related thereto contain or may contain, among other things, certain forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements involve significant risks and uncertainties. Such statements may include, without limitation, statements with respect to the Company's plans, objectives, projections, expectations and intentions, such as the ability of the Company, to provide clinical testing services to the medical community, to continue to strengthen and expand its sales force, to continue to build its digital pathology initiative, to attract and retain qualified management, to continue to strengthen marketing capabilities, to expand the suite of ResponseDX® products, to continue to provide clinical trial support to pharmaceutical clients, to enter into new collaborations with pharmaceutical clients, to enter into areas of companion diagnostics, to continue to execute on its business strategy and operations, to continue to analyze cancer samples and the potential for using the results of this research to develop diagnostic tests for cancer, the usefulness of genetic information to tailor treatment to patients, and other statements identified by words such as "project," "may," "could," "would," "should," "believe," "expect," "anticipate," "estimate," "intend," "plan" or similar expressions.
These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties, including those detailed in the Company's filings with the Securities Exchange Commission. Actual results, including, without limitation, actual sales results, if any, or the application of funds, may differ from those set forth in the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company's control). The Company undertakes no obligation to publicly update forward-looking statements, whether because of new information, future events or otherwise, except as required by law.
CONTACT: Investor Relations Contact:
Peter RahmerTrout Group
Thomas A. Bologna
Chairman & Chief Executive Officer
Source: Response Genetics, Inc.