VRML - Vermillion Inc. Announces ASPiRA LABS Now Credentialed as Florida State Medicaid Provider
AUSTIN, Texas, April 14, 2020 (GLOBE NEWSWIRE) -- Vermillion, Inc. (NASDAQ: VRML) today announced its wholly owned subsidiary, ASPiRA LABS, is now credentialed with Florida’s State Medicaid program for an estimated additional 3.6 million credentialed Medicaid lives.
Florida has the fourth largest state Medicaid populations in the U.S. and ASPiRA is now credentialed in 4 of the top 5 states by Medicaid population size, including California, Pennsylvania, Texas and now Florida. The state of New York has the second largest state Medicaid population and ASPiRA LABS is in process of seeking credentials there. Florida brings the total credentialed Medicaid population to almost 50 M Medicaid lives, which is about 77% of the U.S. Medicaid population. This credentialing also allows ASPiRA LABS to seek participation as a network provider with commercial Medicaid health plans. ASPiRA LABS is the only U.S. provider for Vermillion’s proprietary OVA1® test, an FDA-cleared, ACOG recommended and CMS supported ovarian cancer risk assessment for women with a pelvic mass.
Credentialing is an important step towards gaining additional positive coverage for OVA1®, and follow-on commercial Medicaid contracts, especially when combined with peer-reviewed published evidence documenting OVA1®’s early detection and negative predictive value performance over CA125, and its marked performance in African American women as compared to CA125.
“Actively pursuing Medicaid providership is a key cornerstone to our Disparity Gap movement. We are pleased to announce ASPiRA’s enrollment as a participating provider with Medicaid in the state of Florida,” said Valerie Palmieri, President and CEO of Vermillion, Inc. "As stated on our most recent earnings call, it is now time that ALL women of every socioeconomic background receive the best care possible and we are proud and excited to play our part in making that happen.”
About Vermillion, Inc.
Vermillion, Inc. is transforming women’s health with the discovery, development and commercialization of innovative testing options and bio-analytical solutions that help physicians assess risk, optimize patient management and improve gynecologic health outcomes for women. OVA1®plus combines our FDA-cleared products OVA1® and OVERA® to detect the risk of ovarian malignancy in women with adnexal masses. Recently launched, ASPiRA GenetiXSM testing offers both targeted and comprehensive genetic testing options with a gynecologic focus. With over 10 years of expertise in ovarian cancer risk assessment, Vermillion has expertise in cutting-edge research to inform our next generation of products. Our focus is on delivering products that allow healthcare providers to stratify risk, facilitate early detection and optimize treatment plans. Visit our website for more information about our products at www.vermillion.com.
Investor Relations Contact:
Ashley R. Robinson
LifeSci Advisors, LLC
Tel 617-430-7577 / Arr@LifeSciAdvisors.com