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Strategies & Market Trends : CYTC - How High Can It Go!

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To: Chuck. Edwards who wrote (51)10/29/1997 7:14:00 PM
From: Ted Downs  Read Replies (1) of 185
 
Chuck, More good news .....

Covering ThinPrep(R) Pap Test(TM)

BOXBOROUGH, Mass., Oct. 27 /PRNewswire/ -- Cytyc Corporation
(Nasdaq: CYTC) announced today the addition of Blue Shield of California to
the growing list of Blue Cross and Blue Shield member plans that have
committed to reimburse for the ThinPrep(R) Pap Test(TM). Since Blue Cross
Blue Shield of Massachusetts approved coverage in February 1997, an additional
six "Blues" from the East, Midwest, South and now the West have begun
reimbursing for the ThinPrep Pap Test for primary cervical cancer screening.
The addition of Blue Shield of California makes the ThinPrep Pap Test
available to nearly five million members of the Blue Cross Blue Shield System.
Blue Shield of California has a current membership of nearly 1.6 million
members throughout California. Enrollment consists of 478,000 HMO members and
1.16 million PPO members and Blue Shield of California recently reported that
it has the fastest growing HMO enrollment in the state.
Reimbursement will be provided under the new Current Procedural
Terminology (CPT) code number 88142. Though the new CPT code is not scheduled
to take effect until January 1, 1998, Blue Shield of California will reimburse
laboratories in California who perform the ThinPrep Pap Test, effective
immediately.
"We are very pleased that Blue Shield of California has made the decision
to cover the ThinPrep Pap Test," said Patrick J. Sullivan, Cytyc's president
and Chief Executive Officer.
"This is a significant addition to the family of Blue Cross Blue Shield
members that have demonstrated their commitment to women's healthcare by
providing the only new technology approved for primary cervical cancer
screening."
The ThinPrep Pap Test was approved by the US Food and Drug Administration
(FDA) in May of 1996, as a replacement for the conventional Pap smear
preparation. Clinical trials have shown the ThinPrep Pap Test to be
significantly more effective than the conventional smear for the detection of
low-grade and more severe lesions in a variety of patient populations and to
significantly improve specimen quality.
Cytyc Corporation develops, manufactures and markets the ThinPrep System
for medical diagnostic applications. The ThinPrep System consists of the
ThinPrep 2000 Processor and related reagents, filters and other supplies.
Currently, nearly 400 laboratories in the United States utilize the ThinPrep
2000 for use in the diagnosis of cancers including cancers of the cervix,
lung, bladder, and gastrointestinal tract and in preparation of fine needle
aspiration of thyroid and breast.

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