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CombiMatrix Inks Contract with FedMed

NEW YORK (GenomeWeb News) – CombiMatrix today announced a contract with FedMed for coverage of the Irvine, Calif.-based firm's diagnostic laboratory services.

FedMed is a national provider network and healthcare financial services firm with a preferred provider network of more than 550,000 physicians, 4,000 hospitals, and 60,000 ancillary care providers in the US. More than 40 million people have access to the network, CombiMatrix said.

CombiMatrix CEO Mark McDonough said in a statement that the contract "underscores the notion that physicians better understand the value of the services we offer their patients, particularly chromosomal microarray analysis, or CMA. We expect the recent endorsement of CMA from the American College of Obstetricians and Gynecologists to continue to drive interest in our services."

ACOG recommended CMA earlier this month as a first-line genetic test in pregnancies where ultrasound screens uncover signs of fetal abnormalities.

CombiMatrix last week completed a public offering that raised $12 million in gross proceeds.