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IRVINE, Calif., July 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 with the health insurer, Blue Shield of California (BSCA), for coverage of its diagnostic laboratory services.
Blue Shield of California is the third largest health insurance carrier in the state, adding over 3 million covered lives and enabling its members access to CombiMatrix's valuable molecular diagnostic solutions and comprehensive clinical support – specializing in prenatal, miscarriage and pediatric healthcare. Combined with CombiMatrix's existing Multiplan contract, this agreement increases access to its services to over 60 million covered lives.
"With compelling data supporting the adoption of our CombiSNP chromosomal microarray, we are gaining traction in the marketplace. We are excited that our agreement with Blue Shield of California will provide its patients and treating physicians with direct access to our entire portfolio of testing services," stated Mark McDonough, President and CEO of CombiMatrix. "The BSCA contract not only increases patient access, but as importantly, facilitates streamlined reimbursement, further supporting the rapid growth of our company."
Two large National Institute of Health (NIH) studies, recently published in the
New England Journal of Medicine, concluded that chromosomal microarray tests for miscarriage management and prenatal genetic testing identify additional clinically significant genetic abnormalities, improving upon the historical method of karyotyping. CombiMatrix's CombiSNP chromosomal microarray test leverages this cutting edge technology to deliver improved patient care.
About Blue Shield of California
Blue Shield of California, an independent member of the Blue Cross Blue Shield Association, is a not-for-profit health plan with 5,000 employees and $10.5 billion in annual revenue. Founded in 1939 and headquartered in San Francisco, Blue Shield of California provides health, life, dental, vision, and Medicare insurance and health care service plans in California.