Exagen Inc. Expands In-Network Access with Evolutions Healthcare Systems

Rhea-AI Summary

Exagen Inc. (Nasdaq: XGN) announced a partnership with Evolutions Healthcare Systems, making its AVISE® Lupus and AVISE® CTD tests available as in-network benefits. This agreement enhances care for members needing autoimmune diagnostic testing. Ron Rocca, Exagen’s President and CEO, emphasized the importance of this collaboration in facilitating timely and accurate diagnoses for complex autoimmune diseases. Exagen continues to develop innovative testing solutions aimed at improving patient outcomes in chronic autoimmune conditions.

Positive

• Partnership with Evolutions Healthcare Systems enhances access to AVISE testing.
• AVISE tests included as in-network benefits allow for timely diagnoses.

Negative

• Potential risks associated with COVID-19 affecting operational capacity.
• Dependence on market acceptance and reimbursement for testing products.

SAN DIEGO, March 30, 2022 (GLOBE NEWSWIRE) -- Exagen Inc. (Nasdaq: XGN), a leading provider of autoimmune testing solutions, announced today that AVISE® tests have entered into an in-network agreement with Evolutions Healthcare Systems offering access to enhanced care to participating members. The agreement includes Exagen’s AVISE® Lupus and AVISE® CTD tests making AVISE diagnostic testing available as an in-network benefit.

“Exagen continues to expand its presence within the payor community. The partnership with Evolutions Healthcare Systems will allow their participating health plans the ability to offer AVISE testing as an in-network benefit¹ to enable a timely and accurate differential diagnosis to improve outcomes for complex autoimmune diseases, including SLE,” said Ron Rocca, Exagen’s President and CEO.

About Exagen Inc.

Exagen is dedicated to transforming the care continuum for patients suffering from debilitating and chronic autoimmune diseases by enabling timely differential diagnosis and optimizing therapeutic intervention. Exagen has developed and is commercializing a portfolio of innovative testing products under its AVISE® brand, several of which are based on our proprietary Cell-Bound Complement Activation Products, or CB-CAPs, technology. Exagen’s goal is to enable providers to improve care for patients through the differential diagnosis, prognosis, and monitoring of complex autoimmune and autoimmune-related diseases, including rheumatoid arthritis and lupus. For further information please visit www.exagen.com.

About Evolutions Healthcare Systems, Inc.

Evolutions has been offering customized Provider Network solutions to Self-insured Employers, Insurance Carriers, and Third-Party Administrators through our direct network of Hospitals, Physicians, and Specialists for the past 30 years. In addition to our network of healthcare professionals, Evolutions provides a comprehensive suite of Healthcare Management solutions and Claims Processing services.

Specialties: Custom PPO Network Development for Group Health, Workers Compensation, Auto, Student Health Plans and International access. IT specialists in network aggregation and claims flow management, repricing and claims review.

For further information please visit www.ehsppo.com

¹Network benefits and coverage are determined by the participating health plans.

Forward Looking Statements

Exagen cautions you that statements in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on Exagen's current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding the expected benefits of the positive medical policy coverage for the AVISE CTD test with Evolutions Healthcare Systems, including the availability and expected use of the AVISE CTD test through the Evolutions Healthcare Systems network, and any potential for increased use of the AVISE CTD laboratory test. The inclusion of forward-looking statements should not be regarded as a representation by Exagen that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in Exagen’s business, including, without limitation: the COVID-19 pandemic may continue to adversely affect our business, financial condition and results of operations, including as a result of shutdowns of its facilities and operations as well as those of its suppliers and courier services, impeding patient movement and interruptions to healthcare services causing a decrease in test volumes, disruptions to the supply chain of material needed for its tests, its sales and commercialization activities and its ability to receive specimens and perform or deliver the results from its tests, and delays in ongoing and planned clinical trials involving its tests; Exagen’s commercial success depends upon attaining and maintaining significant market acceptance of its testing products and promoted therapeutics among rheumatologists, patients, third-party payors and others in the medical community; Exagen’s ability to successfully execute on its business strategies; third party payors not providing coverage and adequate reimbursement for Exagen’s testing products or promoted therapeutics; Exagen’s ability to obtain and maintain intellectual property protection for its testing products; regulatory developments affecting Exagen’s business; and other risks described in the company’s prior press releases and Exagen’s filings with the Securities and Exchange Commission (SEC), including under the heading “Risk Factors” in the company’s Annual Report on Form 10-K for the year ended December 31, 2021 and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Exagen undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Investor Relations
Exagen Inc.
Ryan Douglas
rdouglas@exagen.com 
760.560.1525

Company
Exagen Inc.
Kamal Adawi, Chief Financial Officer
kadawi@exagen.com
760.477.5514

FAQ

What is the significance of Exagen's partnership with Evolutions Healthcare Systems?

The partnership allows Exagen's AVISE testing to be offered as in-network benefits, enhancing access to autoimmune diagnostics.

Which tests are included in the agreement between Exagen and Evolutions Healthcare Systems?

The agreement includes Exagen’s AVISE® Lupus and AVISE® CTD tests.

How might the partnership impact Exagen's market presence?

This collaboration is expected to expand Exagen's presence within the payor community, potentially increasing test volume.

What risks does Exagen identify in their forward-looking statements?

Exagen cites risks related to COVID-19, market acceptance, and reimbursement issues affecting its testing products.

When was the partnership between XGN and Evolutions Healthcare Systems announced?

The partnership was announced on March 30, 2022.