Frost & Sullivan Presents 2012 Clinical Diagnostics Company of the Year Award to GenPath Diagnostics of BioReference Laboratories, Inc.

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• Publié par: frost-sullivan
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• Langue: English

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Frost & Sullivan Presents 2012 Clinical Diagnostics Company of the Year Award to GenPath Diagnostics of BioReference Laboratories, Inc.

PR Newswire MOUNTAIN VIEW, California, June 26, 2012

- GenPath's growth stems from its ability to provide proprietary and highly differentiated tests in addition to comprehensive cancer laboratory tests in- house. MOUNTAIN VIEW, California,June 26, 2012/PRNewswire/ -- Based on its recent analysis of the clinical diagnostics market,Frost & Sullivan recognizes GenPath Diagnostics, a business unit of BioReference Laboratories, Inc. with the2012 North American Frost & Sullivan Award for Company of the Year. As a BioReference specialized cancer laboratory, GenPath is a major factor to the Company's impressive growth trajectory—18 years of 20% Compound Annual Growth Rate (CAGR) in revenue. GenPath provides complete cancer laboratory testing in addition to novel and proprietary tests. With the entire cancer workup conducted in-house, GenPath delivers superior turn-around-time compared to other commercial laboratories. In addition to standard analysis including morphological examination, flow cytometry, and advanced stains, GenPath also offers proprietary cancer diagnostic testing like the OnkoMatch™ solid tumor genotyping test. OnkoMatch™ is the culmination of state-of-the-art cancer research and provides oncologists actionable information. Patients are matched with open clinical trials based on their tumor profile. "OnkoMatch™ clearly meets an unmet need in lung cancer patients and also benefits other solid tumor cancers, "said Frost & Sullivan Industry Analyst Winny Tan. GenPath exclusively licensed the tumor genotyping technology and protocol— upon which OnkoMatch™ is based—from leading cancer research center Massachusetts General Hospital and is the first and only commercial laboratory to offer the test nationally. OnkoMatch™ bridges widely-used single mutation tests with the future of highly complex testing, like whole genome sequencing that is anticipated to reach the clinical markets in the next few years. Frost & Sullivan independent benchmarking across market participants concludes that the OnkoMatch™ test provides tremendous value by profiling 14 relevant oncogenes across 68 loci including the common single mutations EGFR, KRAS, and BRAF. At$995, the OnkoMatch™ provides a superior price point compared to four individual, single mutation tests. In comparison, just EGFR and KRAS tests together can total more than$1,000at other specialized cancer laboratories. GenPath also carefully assessed the test's likelihood for reimbursement. GenPath notes that OnkoMatch™ has the desirable qualities that payors require, including growing adoption, a clear result point to clinical trials, and CPT coding that limits over testing. "GenPath's smart reimbursement path for OnkoMatch™ exhibits industry savvy that provides it with a leading competitive