SOURCE: Atossa Genetics, Inc.

Atossa Genetics, Inc.

June 17, 2013 08:30 ET

Atossa Genetics Announces Nationwide Agreement With Network Provider HealthSmart

SEATTLE, WA--(Marketwired - Jun 17, 2013) - Atossa Genetics, Inc. (NASDAQ: ATOS), The Breast Health Company™, has entered into a contractual agreement with HealthSmart, a Preferred Provider Organization (PPO) network serving clients in all 50 states.

The agreement with HealthSmart affords preferred providers and their patients with greater access to Atossa's ForeCYTE Breast Health Test by ensuring timely reimbursement for the laboratory costs associated with the test.

"Our science-based approach to breast cancer risk assessment provides doctors and their patients with vital information concerning a woman's breast health status and risk for breast cancer," stated Dr. Steven Quay, Chairman CEO & President of Atossa Genetics. "The agreement with HealthSmart, our third agreement with a PPO organization, will help more doctors and patients access the ForeCYTE test."

About the ForeCYTE Breast Health Test

The ForeCYTE Breast Health Test is a painless, quick and non-invasive procedure that can be done in a physician's office. A small sample of fluid, aspirated from the nipple of each breast with the Company's modified breast pump, can provide vital early detection of cancer or pre-cancerous conditions that may progress to cancer over an approximately eight year period and before cancer can be detected by mammography and without the risks of radiation, especially in women younger than age 50. No invasive biopsy needles or open surgical incisions are used in the Atossa test and the test is painless. The ForeCYTE test is targeted to the 110 million women in the U.S. ages 18 to 73.

Just as the Pap smear has reduced cervical cancer rates by over 70 percent in women who receive regular testing, becoming the most successful screening test in medicine, the goal of Atossa Genetics is to reduce the stubbornly high rate of breast cancer through the early detection of the precursor changes that can lead to breast cancer and the treatment of those early changes. 

About Atossa Genetics, Inc.

Atossa Genetics, Inc., The Breast Health Company™, based in Seattle, WA, is focused on preventing breast cancer through the commercialization of patented, FDA-designated Class II diagnostic medical devices and patented, laboratory developed tests that can detect precursors to breast cancer up to eight years before mammography.

The National Reference Laboratory for Breast Health (NRLBH), a wholly owned subsidiary of Atossa Genetics, Inc., is a CLIA-certified high-complexity molecular diagnostic laboratory located in Seattle, Washington.

For additional information on Atossa Genetics, please visit www.atossagenetics.com. To see a video about Atossa and the ForeCYTE test, click here: http://vimeo.com/62214008

Forward-Looking Statements

Forward-looking statements in this press release are subject to risks and uncertainties that may cause actual results to differ materially from the anticipated or estimated future results, including the risks and uncertainties associated with actions by the FDA, regulatory clearances, responses to regulatory matters, Atossa's ability to continue to manufacture and sell its products, the efficacy of Atossa's products and services, the market demand for and acceptance of Atossa's products and services, performance of distributors and other risks detailed from time to time in Atossa's filings with the Securities and Exchange Commission, including without limitation its registration statement on Form S-1 filed April 5, 2013, and periodic reports on Form 10-K and 10-Q, each as amended and supplemented from time to time.

About HealthSmart

For more than 40 years, HealthSmart has offered a wide array of customizable and scalable healthcare plans. It specializes in self-funded insurance solutions and comprehensive wellness programs for employers through its broker distribution network. The company's headquarters is in Irving, Texas, with regional hubs throughout the country. HealthSmart's mission is to improve member health and reduce healthcare costs.

Contact Information

  • Contact:

    Atossa Genetics, Inc.
    Kyle Guse
    CFO and General Counsel
    (O) 800-351-3902
    Email Contact

    Matthew D. Haines (Investors)
    Managing Director
    MBS Value Partners
    (O) 212-710-9686
    Email Contact