Precipio Signs Sales & Marketing Agreement for HemeScreen™ with Major Oncology Distributor

NEW HAVEN, Conn., Dec. 10, 2020 (GLOBE NEWSWIRE) -- Specialty cancer diagnostics company   has entered into an agreement with a major US-based oncology distributor to offer Precipio’s HemeScreen POL (Physician Office Lab) program to its independent community oncology practices nationwide. At this time, the company had requested to remain unnamed in this press release.

Through its sales and distribution network, the distributor serves community oncologists nationwide. These practices face daily challenges competing with the large healthcare networks, and must constantly improve their ability to compete from a patient care standpoint, while ensuring their financial sustainability. The ability to deliver better patient care through rapid turnaround time; the internalization of testing which leads to better control; and the opportunity to generate profitable revenue by those practices, are all at the core of Precipio’s vision in creating this program to support community oncologists.

Precipio estimates that an average practice participating in the Hemescreen POL program (depending on the practice size) could generate revenues for Precipio of $100,000 per year in HemeScreen reagent sales.

Both companies will be collaborating to develop a joint program to offer the community oncology practices. The companies will join forces to introduce the program to these oncology practices, leveraging both sales forces; educating customers on the benefits, and work in concert to handle the sales, contracting, setup and training processes for these customers.

“This is a partnership where both parties’ interests are perfectly aligned,” said Ilan Danieli, Precipio’s CEO. “The combination of a strong, broad network reaching thousands of oncologists within the community, coupled with Precipio’s technology platform, provides yet another anchor of support to this important pillar of the oncology community. We are excited for the teams to bring this program to the benefit of those customers”.

HemeScreen Reagent Rental (HSRR) Program

Precipio’s HemeScreen Reagent Rental Program for POLs applies its patent-pending HemeScreen™ technology beyond the laboratory and into the point of care setting, in the oncologist’s office. A tried-and-true structure that is prevalent in the diagnostic world, the HemeScreen Reagent Rental (HSRR) program enables office-based physicians to place Real-Time PCR (RT-PCR) testing equipment with no capital outlay, and generate profitable revenue from day 1.

Through this program, the physician practice will have the ability to run the diagnostic tests in-house instead of sending out to reference laboratories, obtaining faster results and providing patients with better care. Customers will make one monthly payment to purchase HemeScreen reagents, which will subsidize the cost of the PCR equipment.

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About Precipio

Precipio has built a platform designed to eradicate the problem of misdiagnosis by harnessing the intellect, expertise and technology developed within academic institutions and delivering quality diagnostic information to physicians and their patients worldwide. Through its collaborations with world-class academic institutions specializing in cancer research, diagnostics and treatment such as the Yale School of Medicine, Harvard’s Dana-Farber Cancer Institute, and the University of Pennsylvania, Precipio offers a new standard of diagnostic accuracy enabling the highest level of patient care. For more information, please visit .

Forward-Looking Statements

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