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Renalytix AI PLC Partnership with America's Choice Provider Network

08/07/2020 7:00am

UK Regulatory (RNS & others)


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Renalytix AI PLC

08 July 2020

Renalytix AI plc

("RenalytixAI", the "Company")

Partnership with America's Choice Provider Network for coverage expansion

Expands access and coverage of KidneyIntelX(TM) into key regions for commercial growth

Renalytix AI plc ( LSE: RENX), an artificial intelligence-enabled in vitro diagnostics company focused on optimizing clinical management of kidney disease to drive improved patient outcomes and lower healthcare costs , announces that it has signed an agreement to become a provider in the America's Choice Provider Network (ACPN).

ACPN contracts directly with healthcare providers of all types and specialties to establish simple and reliable healthcare access and reimbursement arrangements. It is one of the largest preferred provider networks in the United States with members and providers in all 50 states and agreements with over 1700 payers. Under the agreement, RenalytixAI will now be able to offer KidneyIntelX testing to diabetic kidney disease patients among ACPN's more than 30 million members in the US.

This is an important step in RenalytixAI's strategy to put in place the necessary framework in order to secure broad insurance network coverage and, in turn, adoption of KidneyIntelX ahead of its planned roll-out to additional health systems.

Todd Breeden, CEO of ACPN , said: "ACPN is very excited to announce our new relationship with RenalytixAI. We are pleased to offer their first of its kind KidneyIntelX test to help guide chronic kidney disease care delivery. CKD is a significant challenge faced by our network of providers, payers and members. This test is uniquely positioned to potentially improve care and outcomes and reduce healthcare spending. Our partnership with RenalytixAI shows ACPN's commitment to add progressive, cutting edge companies to our national provider network."

Thomas McLain, President and Chief Commercial Officer of RenalytixAI, said: "We appreciate the opportunity to become one of ACPN's preferred providers. Their network aligns well with the new health systems targeted for our planned roll-out of KidneyIntelX, and we believe it will support accelerated commercial adoption of our test. Being an ACPN provider demonstrates the value of KidneyIntelX testing to both clinicians and regional payers and assures access across the ACPN members served by these health systems. We look at this as a true partnership as we at RenalytixAI share ACPN's commitment to offer the highest quality of healthcare to their members."

For further information, please contact:

 
  Renalytix AI plc                                         www.renalytixai.com 
  James McCullough, CEO                                        Via Walbrook PR 
 
  Stifel (Nominated Adviser & Broker)                       Tel: 020 7710 7600 
  Alex Price / Nicholas Moore 
 
  N+1 Singer (Joint Broker)                                 Tel: 020 7496 3000 
  Aubrey Powell / George Tzimas (Corporate 
   Finance) 
  Tom Salvesen (Corporate Broking) 
 
  Walbrook PR Limited           Tel: 020 7933 8780 or renalytix@walbrookpr.com 
  Paul McManus / Lianne Cawthorne               Mob: 07980 541 893 / 07584 391 
                                                                           303 
 
 

About America's Choice Provider Network

ACPN is an independent, multi-specialty provider network accessed by over 1,700 payers that has developed a proprietary network and technology for the purpose of achieving consistency in healthcare transactions, simplifying claims adjudication processes, creating reasonable reimbursement arrangements and establishing reliable healthcare access for all parties; providers, payers and patients. More than 24 million Americans and 750,000 international lives have access to ACPN's network through a client base consisting of Insurance Carriers, Third Party Administrators, Health and Welfare Funds, Employer Groups and Self-Insured Health Plans. For more information, please contact ACPN's COO, Seth Breeden, at sethbreeden@acpnusa.com or visit www.acpnusa.com.

About RenalytixAI

RenalytixAI is a developer of artificial intelligence-enabled clinical in vitro diagnostic solutions for kidney disease, one of the most common and costly chronic medical conditions globally. RenalytixAI's products are being designed to make significant improvements in kidney disease diagnosis, transplant management, clinical care, patient stratification for drug clinical trials, and drug target discovery. For more information, visit www.renalytixai.com .

About Kidney Disease

Kidney disease is now recognized as a public health epidemic affecting over 850 million people globally. The Centers for Disease Control and Prevention (CDC) estimates that 15% of US adults, or 37 million people, currently have chronic kidney disease (CKD). Further, the CDC reports that 9 out of 10 adults with CKD do not know they have it and 1 out of 2 people with very low kidney function who are not on dialysis do not know they have CKD*. Kidney disease is referred to as a "silent killer" because it often has no symptoms and can go undetected until a very advanced stage. Each year kidney disease kills more people than breast and prostate cancer. Every day, 13 patients in the United States die while waiting for a kidney transplant.

* https://www.cdc.gov/kidneydisease/publications-resources/2019-national-facts.html

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts, and in some cases can be identified by terms such as "may," "will," "could," "expects," "plans, " "anticipates," and "believes." These statements include, but are not limited to, statements regarding the roll-out and adoption of KidneyIntelX and the potential benefits of being a provider in ACPN . Any forward-looking statements are based on management's current views and assumptions and involve risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. All information in this press release is as of the date of the release, and RenalytixAI undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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