Top Health Insurance Plans Expanded Coverage of the Verifi ® Non-Invasive Prenatal Test to Detect Down Syndrome & Other Chromosomal Abnormalities
Coverage increases access to over 80 million covered lives
WALTHAM, Mass. & REDWOOD CITY, Calif.--(BUSINESS WIRE)-- PerkinElmer, Inc.
"PerkinElmer is focused on enabling early access for mothers and babies to the most advanced testing solutions," said Robert Friel, chairman and chief executive officer, PerkinElmer. "Health insurance plans believe in the clinical utility of this advanced test. We are excited with the early success we are having in expanding access to the verifi® prenatal test with top health insurance plans. We now have contracts with more than 15 health plans and recently signed agreements with two of the top five providers, increasing access to greater than 80 million covered lives. As plans are rapidly accepting non-invasive testing into medical policy coverage, we anticipate further coverage of verifi® by our existing 260 health plan contracts."
The verifi® prenatal test uses a single maternal blood sample, taken as early as 10 weeks of pregnancy, to detect the most common fetal chromosome abnormalities. It is specifically designed for women who will be 35 or older at delivery, women with a prior personal or family history of chromosome abnormalities, pregnancies that have received abnormal biochemical screening results, and pregnancies showing ultrasound abnormalities.
DNA-based NIPTs of fetal aneuploidies are clinically-proven as screening tools for Down syndrome, Edwards syndrome and Patau syndrome for high-risk pregnancies. As with any NIPT assessment for fetal aneuploidy, the confirmation via an invasive procedure is recommended for positive results.
Factors Affecting Future Performance
This press release contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to estimates and projections of future earnings per share, cash flow and revenue growth and other financial results, developments relating to our customers and end-markets, and plans concerning business development opportunities and divestitures. Words such as "believes," "intends," "anticipates," "plans," "expects," "projects," "forecasts," "will" and similar expressions, and references to guidance, are intended to identify forward-looking statements. Such statements are based on management's current assumptions and expectations and no assurances can be given that our assumptions or expectations will prove to be correct. A number of important risk factors could cause actual results to differ materially from the results described, implied or projected in any forward-looking statements. These factors include, without limitation: (1) markets into which we sell our products declining or not growing as anticipated; (2) fluctuations in the global economic and political environments; (3) our failure to introduce new products in a timely manner; (4) our ability to execute acquisitions and license technologies, or to successfully integrate acquired businesses and licensed technologies into our existing business or to make them profitable, or successfully divest businesses; (5) our failure to adequately protect our intellectual property; (6) the loss of any of our licenses or licensed rights; (7) our ability to compete effectively; (8) fluctuation in our quarterly operating results and our ability to adjust our operations to address unexpected changes; (9) significant disruption in third-party package delivery and import/export services or significant increases in prices for those services; (10) disruptions in the supply of raw materials and supplies; (11) the manufacture and sale of products exposing us to product liability claims; (12) our failure to maintain compliance with applicable government regulations; (13) regulatory changes; (14) our failure to comply with healthcare industry regulations; (15) economic, political and other risks associated with foreign operations; (16) our ability to retain key personnel; (17) significant disruption in our information technology systems; (18) our ability to obtain future financing; (19) restrictions in our credit agreements; (20) our ability to realize the full value of our intangible assets; (21) significant fluctuations in our stock price; (22) reduction or elimination of dividends on our common stock; and (23) other factors which we describe under the caption "Risk Factors" in our most recent annual report on Form 10-K and in our other filings with the Securities and Exchange Commission. We disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.
About PerkinElmer, Inc.
PerkinElmer, Inc. is a global leader focused on improving the health and safety of people and the environment. The company reported revenue of approximately $2.1 billion in 2012, has about 7,500 employees serving customers in more than 150 countries, and is a component of the S&P 500 Index. Additional information is available through 1-877-PKI-NYSE, or at www.perkinelmer.com.
About Verinata Health
Verinata (www.verinata.com), a wholly-owned subsidiary of Illumina, Inc., is driven by a sole, extraordinary purpose - maternal and fetal health. Our initial focus is to develop and offer non-invasive tests for early identification of fetal chromosomal abnormalities using our proprietary technologies. We aim to reduce the anxiety associated with today's multi-step process, the unacceptable false-positive rates, the non-specific and sometimes confusing results of current prenatal screening methods, as well as the risk of current invasive procedures. We support national guidelines and the recent American College of Obstetricians and Gynecologists and the Society for Maternal-Fetal Medicine Committee Opinion recommending cell-free DNA prenatal testing is one option that can be used as a primary or secondary screening test in women at increased risk of aneuploidy. We believe women who desire such testing should be offered a single blood draw test with a definitive result. The verifi® prenatal test is available through a physician.
Tommy J. Thomas, 781-663-5889
Stephanie R. Wasco, 781-663-5701
Rebecca Chambers, 858-255-5243
Jennifer Temple, 858-882-6822
KEYWORDS: United States North America Massachusetts
The article Top Health Insurance Plans Expanded Coverage of the Verifi® Non-Invasive Prenatal Test to Detect Down Syndrome & Other Chromosomal Abnormalities originally appeared on Fool.com.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.