NATERA RESPONDS TO MISLEADING SHORT SELLER REPORT
Natera, based in Austin, Texas, responded strongly to a report by Hindenburg Research, labeling it misleading and an attempt by short sellers to profit from negative sentiments. The company emphasizes its commitment to compliance and the efficacy of its testing procedures, supported by over 100 peer-reviewed studies involving more than 1.3 million patients. Natera highlights its high performance in recent studies and maintains an A+ BBB rating, demonstrating a focus on patient satisfaction and operational integrity.
- Natera performed over 1.5 million tests in 2021 with only 82 negative BBB comments, reflecting strong customer satisfaction.
- The company has achieved an A+ rating with BBB, showcasing its commitment to positive patient experiences.
- Natera cites over 100 peer-reviewed publications validating its testing accuracy, with significant study participation.
- Hindenburg Research's report suggests potential risks regarding Natera's operational practices amidst ongoing investigations.
AUSTIN, Texas, March 9, 2022 /PRNewswire/ -- We disagree with the accuracy of this report which was generated in an attempt to make a quick profit by short sellers Hindenburg Research, who are currently under criminal investigation by the Department of Justice for illegal trading tactics. This is the same story short sellers have been pitching for many years.
Prior authorization is an insurance company-initiated process requiring health care providers to qualify for payment for services. The AMA states that "prior authorization is overused and existing processes present significant administrative and clinical concerns". There are many companies, both private and not-for-profit, that provide prior authorization services to both physician offices and clinical laboratories to ensure patients get access to needed testing. MGML is one of these companies which is neither owned, operated nor controlled by Natera. Most clinical laboratories, including large national laboratories and specialty diagnostics laboratories, rely on these companies.
We are proud of the performance and value of our tests, which has been the subject of over 100 peer-reviewed publications that studied over 1.3 million patients. In 2021, we performed over 1.5 million tests and only 82 patients shared a negative comment to the BBB and Natera consistently responded. We're proud to have an A+ rating with BBB and work hard to ensure every patient has a positive experience.
The report also references the New York Times article on microdeletions which was full of inaccuracies, resulting in multiple corrections. Natera has shown industry-leading performance in the largest prospective study on screening for 22q recently published (link) in one of the world's leading ObGyn journals. 22q is billed using a CPT code provided by the American Medical Association.
Natera maintains a mature compliance program and we believe our procedures in regard to prior authorization services and billing are compliant with applicable laws.
About Natera
Natera™ is a global leader in cell-free DNA testing, dedicated to oncology, women's health, and organ health. We aim to make personalized genetic testing and diagnostics part of the standard of care to protect health and enable earlier, more targeted interventions that help lead to longer, healthier lives. Natera's tests are validated by more than 100 peer-reviewed publications that demonstrate high accuracy. Natera operates ISO 13485-certified and CAP-accredited laboratories certified under the Clinical Laboratory Improvement Amendments (CLIA) in Austin, Texas and San Carlos, California. For more information, visit www.natera.com.
Forward-Looking Statements
All statements other than statements of historical facts contained in this release are forward-looking statements and are not a representation that Natera's plans, estimates, or expectations will be achieved. These forward-looking statements represent Natera's expectations as of the date of this release, and Natera disclaims any obligation to update the forward-looking statements. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially. Risks and uncertainties are discussed in greater detail in "Risk Factors" in Natera's recent filings on Forms 10-K and 10-Q and in other filings Natera makes with the SEC from time to time. These documents are available at www.natera.com/investors and www.sec.gov.
Contacts
Investor Relations: Mike Brophy, CFO, Natera, Inc., 650-249-9090
Media: Kate Stabrawa, Communications, Natera, Inc., 720-318-4080 pr@natera.com
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SOURCE Natera, Inc.
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