May 14, 2019, 8:35 a.m. EDT

CareDx applauds HHS Report on Cost Savings of Lifetime Immunosuppressive Drug Coverage for Transplant Patients

Extending Medicare coverage of medication saves $73M

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BRISBANE, May 14, 2019 (GLOBE NEWSWIRE via COMTEX) -- CareDx, Inc. /zigman2/quotes/200138382/composite CDNA +1.74% , a leading molecular diagnostics company focused on the discovery, development, and commercialization of clinically differentiated, high-value diagnostic solutions for transplant patients, applauds the Department of Health and Human Services for releasing a report highlighting the cost savings of lifetime immunosuppressive drug coverage for transplant patients.

CareDx is dedicated to improving the long-term health outcomes of transplant recipients. A critical part of protecting a donated kidney is appropriate dosage of immunosuppressant drugs for the life of the recipient, treatment financially out of reach for many individuals without insurance coverage. For this reason, CareDx has been urging Congress to pass legislation to extend Medicare coverage of immunosuppressive medication for kidney transplant recipients beyond the current three-year cap. CareDx is sponsoring the Honor the Gift campaign, a national patient-centered campaign promoted by a coalition of kidney and transplant organizations to advocate for the bill in Congress.

"The analysis is potentially game changing for the prospects of the bill's passage. The cost associated with this change has thwarted its passage in the past. Assuming the Congressional Budget Office can agree with ASPE's analytical assumptions, a cost-saving bill could easily be included in legislative packages moving forward," said Peter Maag, CEO of CareDx. "We urge Congress to capitalize on this analysis by quickly introducing and passing the necessary legislation. The gift of a donated kidney should be protected at all costs, but when the right treatment also saves money, there is a moral obligation to do the right thing. Ensuring transplant patients have access to these life-saving medications will help protect patients, honor the gift of their donors, and will save the taxpayers money."

Learn more about CareDx's work to extend Medicare coverage of immunosuppressive medications for kidney transplant recipients at HonorTheGift.org.

About CareDx

CareDx, Inc., headquartered in Brisbane, California, is a molecular diagnostics company focused on the discovery, development and commercialization of clinically differentiated, high-value diagnostic solutions for transplant recipients. CareDx offers products along the pre- and post-transplant testing continuum, and is the leading provider of genomics-based information for transplant patients.

For more information, please visit: www.CareDx.com .

Forward Looking Statements

This press release includes forward-looking statements, including statements regarding the Company's participation in the Honor the Gift campaign. These forward-looking statements are based upon information that is currently available to CareDx and its current expectations, speak only as of the date hereof, and are subject to numerous risks and uncertainties, including general economic and market factors, among others discussed in CareDx's filings with the SEC, including the Annual Report on Form 10-K for the fiscal year ended December 31, 2018 filed by CareDx with the SEC on March 6, 2019 and the periodic reports that CareDx has subsequently filed with the SEC. Any of these may cause CareDx's actual results, performance or achievements to differ materially and adversely from those anticipated or implied by CareDx's forward-looking statements. CareDx expressly disclaims any obligation, except as required by law, or undertaking to update or revise any such forward-looking statements.

CONTACTS:

CareDx, Inc.

Sasha King

Chief Commercial Officer

415-287-2393

sking@caredx.com

Investor Relations

David Clair

Integrated Corporate Relations, Inc.

646-277-1266

david.clair@icrinc.com

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(C) Copyright 2019 GlobeNewswire, Inc. All rights reserved.

/zigman2/quotes/200138382/composite
US : U.S.: Nasdaq
$ 28.62
+0.49 +1.74%
Volume: 331,102
Oct. 15, 2019 12:24p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.19 billion
Rev. per Employee
$331,468
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