NATERA RESPONDS TO MISLEADING SHORT SELLER REPORT
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.
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.
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.
Investor Relations: Mike Brophy, CFO, Natera, Inc., 650-249-9090
Media: Kate Stabrawa, Communications, Natera, Inc., 720-318-4080 firstname.lastname@example.org
SOURCE Natera, Inc.