Sequenom Inc. Announces National Agreement with Provider MultiPlan, Inc.
Published: Apr 19, 2012
SAN DIEGO, April 19, 2012 /PRNewswire/ -- Sequenom, Inc. (NASDAQ: SQNM), a life sciences company providing innovative genetic analysis solutions, today announced an agreement with MultiPlan, Inc., the nation's leading provider of healthcare cost management solutions (PHCS). Under this expanded agreement, Sequenom's participation in the PHCS and MultiPlan networks will now include its Center for Molecular Medicine's MaterniT21 PLUS laboratory-developed test to detect certain fetal trisomies in women at increased risk of carrying a child with one of these chromosomal abnormalities. More than 900,000 providers participate in MultiPlan's networks.
"We are very pleased to extend our relationship with MultiPlan, giving their clients' members and their network of participating providers access to the MaterniT21 PLUS test," said Harry F. Hixson, Jr., Ph.D., Chairman and CEO, Sequenom, Inc. "Of the many important decisions to make in a high-risk pregnancy, the coverage of a valuable noninvasive prenatal test will be a relief to many expectant families."
The MaterniT21 PLUS test is intended for use in pregnant women at increased risk for fetal aneuploidy and can be used as early as 10 weeks gestation. In the United States, there are an estimated 750,000 such high-risk pregnancies each year. Results of the MaterniT21 PLUS test delivered to ordering physicians will include the presence of any of the three trisomies for their high-risk patients. The MaterniT21 PLUS test is available through Sequenom CMM as a testing service to physicians. To learn more about the MaterniT21 PLUS test, please visit Sequenomcmm.com.
Sequenom, Inc. (NASDAQ: SQNM) is a life sciences company committed to improving healthcare through revolutionary genetic analysis solutions. Sequenom develops innovative technology, products and diagnostic tests that target and serve discovery and clinical research, and molecular diagnostics markets. The company was founded in 1994 and is headquartered in San Diego, California. Sequenom maintains a Web site at http://www.sequenom.com to which Sequenom regularly posts copies of its press releases as well as additional information about Sequenom. Interested persons can subscribe on the Sequenom Web site to email alerts or RSS feeds that are sent automatically when Sequenom issues press releases, files its reports with the Securities and Exchange Commission or posts certain other information to the Web site.
About Sequenom CMM, LLC
Sequenom Center for Molecular Medicine® (Sequenom CMM), a CAP accredited and CLIA-certified molecular diagnostics laboratory, is developing a broad range of laboratory developed tests with a focus on prenatal and ophthalmic diseases and conditions. These laboratory-developed tests provide beneficial patient management options for obstetricians, geneticists and maternal fetal medicine specialists. Sequenom CMM is changing the landscape in genetic disorder diagnostics using proprietary cutting edge technologies.
MultiPlan, Inc. is the industry's most comprehensive provider of healthcare cost management solutions. The company provides a single gateway to a host of primary, complementary and out-of-network strategies for managing the financial risks associated with healthcare claims. Clients include insurers/health plans, third party administrators, self-funded employers, HMOs and other entities that pay medical bills in the commercial healthcare, government, workers compensation and auto markets. MultiPlan is owned by BC Partners, a leading international private equity firm, and Silver Lake, the world's largest private investor in technology. For more information, visit www.MultiPlan.com.
Except for the historical information contained herein, the matters set forth in this press release, including statements regarding performance, participation, or expectations under Sequenom's agreement with MultiPlan, the impact or effect of the agreement or coverage on expectant families, the intended use of the MaterniT21 PLUS test and the results delivered to ordering physicians, Sequenom's commitment to improving healthcare through revolutionary genetic analysis solutions, developing a broad range of laboratory developed tests, and changing the landscape in genetic disorder diagnostics, are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the risks and uncertainties associated with Sequenom's ability to develop and commercialize new technologies and products, particularly new technologies such as prenatal and other diagnostics and laboratory developed tests, Sequenom's ability to manage its existing cash resources or raise additional cash resources, competition, intellectual property protection and intellectual property rights of others, government regulation particularly with respect to diagnostic products and laboratory developed tests, obtaining or maintaining regulatory approvals, ongoing litigation and other risks detailed from time to time in Sequenom, Inc.'s most recent Annual Report on Securities and Exchange Commission Form 10-K and other documents subsequently filed with or furnished to the Securities and Exchange Commission. These forward-looking statements are based on current information that may change and you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and Sequenom, Inc. undertakes no obligation to revise or update any forward-looking statement to reflect events or circumstances after the issuance of this press release.
SOURCE Sequenom, Inc.