Biocept Executes In-Network Provider Agreement with Health Net Federal Services Extending Coverage for its Liquid Biopsy Oncology Platform to the TRICARE West Region Network
SAN DIEGO, Sept. 8, 2020 /PRNewswire/ -- Biocept, Inc. (Nasdaq: BIOC), a leading commercial provider of molecular technologies designed to provide physicians with clinically actionable information to improve patient outcomes, announces it has entered into an agreement with Health Net Federal Services LLC to be an in-network provider for its Target Selector™ liquid biopsy oncology platform for the TRICARE West (TriWest) region network. TriWest provides healthcare services to approximately three million members of the U.S. military and their families.
"It's an honor to become a provider for TriWest and to support the healthcare needs of our country's military service members and their families," said Michael Nall, President and CEO of Biocept. "Our Target Selector™ platform can be used to improve treatment outcomes by helping physicians rapidly obtain the actionable information they need to design personalized treatment plans for their patients diagnosed with cancer. Expanding the number of managed care agreements is among our strategic objectives. Our liquid biopsy platform is available on an in-network basis to millions of patients across the U.S. and now we are very proud to include those who are serving our country as they fight a new battle, this time with cancer."
About TRICARE West Region Network
TRICARE is the worldwide healthcare program available to eligible beneficiaries of the seven uniformed services – the Army, U.S. Navy, U.S. Air Force, U.S. Marine Corps, U.S. Coast Guard, Commissioned Corps of the U.S. Public Health Service, and the Commissioned Corps of the National Oceanic and Atmospheric Administration. TRICARE-eligible beneficiaries may include active duty service members and their families, retired service members and their families, National Guard and Reserve members and their families, survivors, certain former spouses, and others. TRICARE is jointly managed by the Defense Health Agency (DHA) and the TRICARE Health Plan. The DHA has partnered with civilian regional contractors in the East and West regions to assist TRICARE regional directors, and military hospital and clinic commanders in operating an integrated health care delivery system
TriWest is managed under a contract with the DHA by Health Net Federal Services. Coverage includes the states of Alaska, Arizona, California, Colorado, Hawaii, Idaho, Iowa (except the Rock Island Arsenal area), Kansas, Minnesota, Missouri (except the St. Louis area), Montana, Nebraska, Nevada, New Mexico, North Dakota, Oregon, South Dakota, Texas (areas of Western Texas only), Utah, Washington, and Wyoming. More information is available at www.tricare-west.com.
Biocept, Inc. is a molecular diagnostics company with commercialized assays for lung, breast, gastric, colorectal and prostate cancers, and melanoma. The Company uses its proprietary liquid biopsy technology to provide physicians with clinically actionable information for treating and monitoring patients diagnosed with cancer. The Company's patented Target Selector™ liquid biopsy technology platform captures and analyzes tumor-associated molecular markers in both circulating tumor cells (CTCs) and in circulating tumor DNA (ctDNA). With thousands of tests performed, the platform has demonstrated the ability to identify cancer mutations and alterations to inform physicians about a patient's disease and therapeutic options. In addition, Biocept recently added COVID-19 testing to support efforts to fight the pandemic. For additional information, please visit www.biocept.com.
Forward-Looking Statements Disclaimer Statement
This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, we can give no assurance that such expectations and assumptions will prove to have been correct. Forward-looking statements are generally identifiable by the use of words like "may," "will," "should," "could," "expect," "anticipate," "estimate," "believe," "intend," or "project" or the negative of these words or other variations on these words or comparable terminology. To the extent that statements in this release are not strictly historical, including without limitation statements regarding the ability of our tests to provide clinically actionable information, and the ability of Biocept's platform to identify cancer mutations and alterations to inform physicians about a patient's disease and therapeutic options, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous risk factors as set forth in our Securities and Exchange Commission (SEC) filings. The effects of such risks and uncertainties could cause actual results to differ materially from the forward-looking statements contained in this release. We do not plan to update any such forward-looking statements and expressly disclaim any duty to update the information contained in this press release except as required by law. Readers are advised to review our filings with the SEC, which can be accessed over the Internet at the SEC's website located at www.sec.gov.
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Company Codes: NASDAQ-SMALL:BIOC