GeneNews (TSX:GEN) has entered into a partnership agreement with closely-held NueHealth, which delivers value-based healthcare solutions and connects patients directly to physicians through integrated provider networks.
Patients who access healthcare through NueHealth's provider networks will now be able to take advantage of three different screening tests: ColonSentry, earlyCDT-Lung and Prostate Health Index, which provide early risk stratification of colorectal, lung and prostate cancers.
All three screenings utilize a quick and convenient blood test and will be completed at one of NueHealth's provider-owned care centers. GeneNews will process the samples through its CAP- and CLIA-certified Innovative Diagnostic Laboratory in Richmond, VA.
The partnership has an initial term of three years and is then renewable annually. GeneNews will provide individualized risk stratification reports for each patient, supply testing kits and ongoing consultation. The diagnostic services are provided through a flat-fee model, with NueHealth responsible for the management of client billing within its healthcare solution model.
Financial terms were not disclosed, but GeneNews expects the partnership to significantly accelerate the path toward positive cash flow and net profitability.
In a statement, James Howard-Tripp, chairman & CEO of GeneNews, said healthcare providers are increasingly being held accountable for their commitment to disease prevention and quality of care.
“This new, integrated healthcare model is well-aligned with our risk stratification testing, which fills a key void in cancer screening, leading to improved patient adherence, reduced industry costs and better use of healthcare resources. All of this means patients can be diagnosed earlier, which means more effective treatment and better outcomes,” he added.
Dan Tasset, chairman of NueHealth, said “our goal is to make healthcare simple, affordable, and more accessible, and we believe partnering with GeneNews will help us do that.”