Great call right after you posted that news came on 9/30. 1st customer with re-occurring revenue yearly 750k with possible 50 more companies read last line of news on 9/30
First Substantial Customer: Tennessee Oncology Internalizes Precipio’s HemeScreen™
Source: GlobeNewswire Inc.
Specialty diagnostics company Precipio, Inc. (NASDAQ: PRPO), announced that Tennessee Oncology has selected Precipio’s HemeScreen RUO assay as its molecular testing assay for hematologic malignancies such as myelodysplastic syndromes (MDS) and myeloproliferative neoplasms (MPD). TN Oncology’s laboratory has validated the test and will be performing the HemeScreen assay as a lab developed test (LDT) within their laboratory.
This marks the first substantial customer for one of Precipio’s technologies. A first order has been placed - and delivered.
Tennessee Oncology is one of the nation’s largest community-based cancer care specialists. With 90 physicians in 40 locations, Tennessee Oncology deploys a POL (Physician Office Laboratory) which services their physicians. The laboratory runs a full suite of diagnostic services; with the addition of HemeScreen, it is able to provide better turnaround time and a higher quality of service to its physicians.
Tennessee Oncology is part of OneOncology, a partnership of independent community oncology practices working together to deliver comprehensive cancer care that includes the West Cancer Center and New York Cancer and Blood Specialists. Combined, OneOncology has more than 200 oncology providers.
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Based on current volume within Tennessee Oncology’s laboratory, and taking into consideration the affiliate practices within OneOncology, Precipio anticipates revenues of approximately $750,000 per year from this group alone, scaling up beginning in Q4-2019. Furthermore, we estimate that in the US there are likely over 50 similar-size potential customers such as Tennessee Oncology for Precipio’s HemeScreen assay <~~~~********
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