BERKELEY HEIGHTS, N.J. and GAINESVILLE, Ga., Sept. 17, 2015 (GLOBE NEWSWIRE) -- Authentidate Holding Corp. (Nasdaq:ADAT), has partnered with AEON Clinical Laboratories to nationally launch Cancer Detect Profile®, a 38-gene cancer genetic test coupled with telehealth-based genetic counseling for the prescribing physicians. The test is designed to identify patients with increased risk of colorectal, breast, pancreatic, ovarian, gastric, melanoma, stomach and other cancers. The test is now available for use by AEON's base of more than 6,000 physicians who annually treat more than one million patients nationwide.
The Centers for Medicare and Medicaid Services ("CMS") sets the guidelines for billing rates and depending on the number of cancers tested, billable amounts are expected to range between $3,000 and $6,000 per patient. In 2014, there were an estimated 1.6 million new cancer cases diagnosed and 585,720 cancer deaths in the U.S. Early testing and detection are critical to successful treatment outcomes.
"This pioneering offering enhances our group of leading Cancer Genomics tests and uniquely integrates our board-certified genetic counselors remotely, via Authentidate's telehealth platform," said Richard Hersperger, CEO of AEON. "Cancer Detect Profile is a significant innovation in personalized medicine and exemplifies our commitment to delivering a comprehensive offering of state of the art testing equipment and services to provide the fastest and most reliable results in the nation."
Cancer Detect Profile analyzes mutations in a patient's DNA and RNA within a panel of 38-genes associated with cancer. This genetic testing profile provides information on the connection between a patient's unique genetic makeup and their risk to develop certain prevalent cancers. AEON will provide a comprehensive report based on an individual patient's DNA and RNA profile that will indicate susceptibility to various cancers. Cancer Detect Profile will help guide clinicians' routes of personalized therapy dependent on the genomic mutation and associated cancer.
The Cancer Detect Profile test is available nationwide through any AEON physician. In addition, AEON offers insurance pre-authorization support and free access to genetic counselors, which are available at all times for in depth consultations with the prescribing physicians.
AEON's genetic counselors will provide counseling to prescribing physicians utilizing video chat from the clinician's computer and Authentidate's Web-based telehealth application. Authentidate's platform not only provides a HIPAA-compliant communications interface, but it also tracks and manages all of the data, records the occurrence of events, and all of the patient's information to provide an innovative, differentiated service offering.
As announced on August 25, 2015, Authentidate and AEON Clinical Laboratories have entered into a non-binding letter of intent to combine. The companies continue to work together to complete the definitive agreement for the transaction and anticipate closing the combination transaction in the fourth quarter of 2015.
About AEON Clinical Laboratories
AEON Clinical Laboratories is a growing comprehensive and efficient clinical laboratory using state of the art testing equipment. Housed in a 28,000 square foot campus, in Gainesville, Georgia, AEON emphasizes Technology Innovation. AEON has developed proprietary methodologies that provide some of the fastest and most reliable urine and oral fluid (saliva) test results in the nation. AEON provides health care professionals with four primary tests: Medical Toxicology, Pharmacogenomics, Cancer Genetic Testing, and Molecular Biology.
About Authentidate Holding Corp.
Authentidate Holding Corp. is a provider of web-based revenue cycle management applications and telehealth products and services that enable healthcare organizations to coordinate care for patients and enhance related administrative and clinical workflows. Authentidate's products and services enable healthcare organizations to increase revenues, reduce costs and enhance patient care by eliminating paper and manual work steps from clinical and administrative processes. Authentidate's telehealth solutions combine patient vital signs monitoring with a web application that streamlines patient care management. Delivered as Software as a Service (SaaS), customers only require an Internet connection and web browser to access our web-based applications thereby utilizing previous investments in systems and technology. The company's healthcare customers and users include leading homecare companies, health systems, and physician groups. These organizations utilize the company's products and services to coordinate care for patients outside of acute care.
For more information, visit www.authentidate.com
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CONTACT: Authentidate Holding Corp. James Carbonara, Hayden IR, email@example.com (646) 755-7412 Brett Maas, Hayden IR, Brett@haydenir.com (646) 536-7331