SACRAMENTO, CA | April 23, 2018 – Anpac Bio-Science Co., Ltd. (“Anpac Bio” hereafter), an international life science company with operations in both Asia and the US, announced today, that it recognized a 386% growth in insurance sector revenue in the first quarter of 2018 compared to 2017 for the same period. To date, Anpac Bio has nearly 10 major insurance as its customers, some of which are among the largest insurers in the world.
The core to Anpac Bio’s insurance reimbursement strategy is to demonstrate its significantly reduced costs over existing screening methods of early-stage cancer screening. The Company’s cancer differentiation analysis (CDA) screens can screen up to 26 cancer types simultaneously compared to only a single cancer type with traditional screening methods. Also, CDA is able to provide the maximum coverage at a minimum cost to carriers and individuals. Detecting cancers at the earliest stages offer the best chance for recovery and avoid extended, and costly, hospital stays.
Dr. Chris Yu, CEO of Anpac Bio, commented, “Anpac Bio continues to demonstrate sustainability in the marketplace in its partnerships with major insurance carriers that are built on an annual recurring revenue model. With the positive validation and surge in revenue we are receiving in Asia and a high level of interest from major medical institutions and healthcare providers in the United States, we continue to lead out with a significant advantage in cancer screening technology over the competition.”
Additionally, Anpac Bio offers its CDA technology directly to employers and is currently working with 14 global Fortune 500 companies as well as with national supplemental insurance carriers. By working through multiple channels, Anpac Bio believes it can be a commercial leader in the cancer diagnostic space.