WALTHAM, Mass., Jan. 2, 2013 (GLOBE NEWSWIRE) -- BG Medicine, Inc. (Nasdaq:BGMD), a company focused on the development and commercialization of novel cardiovascular diagnostics, announced today that the first automated version of the BGM Galectin-3 ® blood test has obtained a CE Mark, an important step in the company's commercial strategy.
- The launch of a major campaign to grow BGM Galectin-3 test sales in hospital settings. BG Medicine launched a new campaign in November 2012 focused on the urgent need to reduce rates of unplanned hospital readmissions. The Centers for Medicare & Medicaid Services (CMS) guidelines that went into effect on October 1, 2012 will result in new financial penalties expected to reach an aggregate of nearly $300 million in 2013 and nearly $1 billion by 2015, if improvements are not made. Because heart failure patients with elevated levels of galectin-3 are two-to-three times more likely than other heart failure patients to be readmitted to the hospital within 30 days of discharge, the company believes that identifying and risk-stratifying these high-risk patients through galectin-3 testing is a potentially valuable and cost-effective tool in a hospital's strategy to reduce unplanned 30-day readmissions. The company expects this initiative will accelerate the sales ramp-up and the widespread adoption of galectin-3 testing.
- The conversion of a medical liaison organization to a US-based sales organization. BG Medicine is transforming its current field force from an awareness- and education-focused organization into one with a sales mission and growth strategy. The field force will focus initially on promoting galectin-3 testing at a core set of hospitals with higher-than-average readmission rates, which are at risk of incurring significant financial penalties due to new rules affecting readmissions set by CMS.
- The opening of a CLIA (Clinical Laboratory Improvement Amendments) certified clinical laboratory. BG Medicine expects to open the BG Medicine CLIA laboratory in the first half of 2013 in order to make galectin-3 testing available to more hospitals and other health care providers. The company expects this CLIA lab will further strengthen the company's own infrastructure to support sales made directly by BG Medicine.