SECFilings.com, a leading provider of SEC filings news and analysis, has issued a media update on Arrayit Corporation (OTCQB: ARYC), a leading developer of life science tools and systems for the analysis of genetic variation, biological function and diagnostics.
In the update, Ryan Allway discusses the company's platform and the role of diagnostics in healthcare costs:
U.S. healthcare costs are skyrocketing and it's no secret that it could bankrupt the country if left unchecked. Medical Payment Advisor Commission chairman Glenn Hackbarth warned lawmakers in March that "pressure on the federal budget would continue as Social Security, Medicare, Medicaid, other health insurance programs, and net interest are projected to account for more than 16% of GDP in 10 years, whereas total federal revenues have averaged just 18.5% of GDP over the past 40 years" big problems, indeed.
While President Obama's healthcare reform has been a point of contention, there are fewer disagreements around some other ways to lower healthcare costs. For instance, Mr. Hackbarth insisted that increasing primary care physicians, who tend to be more efficient at providing care than specialized doctors, would undoubtedly lower costs. But perhaps more importantly to investors, there are many public companies focused on developing new technologies designed to lower costs and ultimately resolve these big issues facing the U.S. ...
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About Arrayit Corporation
Arrayit Corporation engages in the development, manufacture, and marketing of life science tools and integrated systems for the analysis of genetic variation, biological function, and diagnostics worldwide. The company develops and supports microarray tools and components, custom printing and analysis of microarrays for research, and the identification and development of diagnostic microarrays and tools for early detection of treatable disease states. It offers microarray printing technology, which consists of Professional, 946, Stealth, and ChipMaker pins and printheads; and instrumentation, including NanoPrint, SpotBot, SpotLight CCD fluorescence scanners, SpotWare colorimetric scanners, InnoScan laser scanners, TrayMix hybridization stations, high speed centrifuges, air jets, and vacuum products. The company also manufactures consumables, which include glass substrates and slides, reagents, solutions, kits, and clean room supplies; and develops and markets medical tests for ovarian cancer and parkinson's disease, as well as provides Variation Identification Platform technology that allows diagnostic tests to be performed by depositing approximately 100,000 patient samples onto a single microarray. The company was founded in 1993 and is based in Sunnyvale, California.