Adding customer segment exceeding $100M in market potential
NEW HAVEN, CT, Globenewswire – (September 15th, 2022) – Specialty cancer diagnostics company Precipio, Inc. (NASDAQ: PRPO), has signed a distribution agreement for HemeScreen with a major distribution partner (name withheld as per partner’s policy). Following an upcoming training program and onboarding of their national coverage, this distribution channel partner’s sales team will begin promoting and driving sales of the HemeScreen platform to hundreds of their current accounts.
Precipio continues to execute its HemeScreen distribution growth strategy of a multi-pronged approach targeting national and regional reference labs, hospital networks and physician-owned laboratories (POLs). The diversity of distributors and channel partners engaging with Precipio maximizes coverage of the full market potential.
The new distributor focuses on a segment of the healthcare business which, by our estimate, represents another $100M of market potential that our current distributors are less likely to reach. With this distributor, we now have >250 sales representatives in the field calling on various groups of qualified potential customers.
“With this and our previous agreements signed, we believe we have excellent coverage and access to all target segments for HemeScreen,” said Ilan Danieli, Precipio’s CEO. “Our team has already begun receiving inquiries, and meetings have been scheduled with potential customers. As a result, we expect substantial customer base growth and revenues as these partnerships materialize. We are excited about the opportunity to partner with market leading distributors to ensure we achieve the revenue growth and market penetration for this outstanding technology.”
Precipio Inc. is a healthcare company focused on cancer diagnostics. The Company’s mission is to address the pervasive problem of cancer misdiagnosis by developing products to mitigate the root causes of this problem in the form of diagnostic products, reagents, and services. Industry studies estimate that 1 in 5 blood-cancer patients are misdiagnosed. As cancer diagnostic testing has evolved from cellular to molecular (genes and exons), laboratory testing has become highly complex, requiring even greater diagnostic precision to effectively gather, analyze and present information for the physician for patient treatment. Precipio has built a robust specialty cancer diagnostics platform that enables the rapid development of highly differentiated, proprietary clinical diagnostics products which provide superior clinical, operational, and economic benefits to laboratories worldwide. By delivering diagnostic products, reagents, and services that improve the accuracy and efficiency of diagnostics, leading to fewer misdiagnoses, we believe can improve patient outcomes through the selection of appropriate therapeutic options. Furthermore, we believe that better patient outcomes will reduce/lower healthcare costs as misdiagnoses are reduced. For more information, please visit www.precipiodx.com.
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