Lucid Diagnostics Executes First Direct Employer Contract to Provide EsoGuard® Esophageal Precancer Testing as an Employee Benefit

EsoGuard Testing now incorporated in Texas-based Ancira Auto Group's corporate Health and Wellness Program

NEW YORK, Aug. 24, 2023 /PRNewswire/ -- Lucid Diagnostics Inc. (Nasdaq: LUCD) ("Lucid" or the "Company") a commercial-stage, cancer prevention medical diagnostics company and majority-owned subsidiary of PAVmed Inc. (Nasdaq: PAVM, PAVMZ), announced that the Company has contracted with the Ancira Auto Group ("Ancira"), a premier auto dealer serving South Texas, to offer EsoGuard^® esophageal precancer testing to eligible employees across all twelve of its locations in San Antonio and surrounding areas. This represents Lucid's first such employer contract as part of a direct contracting strategic initiative it launched earlier this year. Lucid is expanding its commercial team to include a dedicated full-time head of employer relations, who will spearhead this important direct contracting strategic initiative.

Lucid Diagnostics is developing a revolutionary non-invasive, office-based diagnostic test for biomarkers to esophageal cancer. (PRNewsfoto/Lucid Diagnostics)

"Lucid is deeply committed to seeking creative ways to expand patient access to EsoGuard esophageal precancer testing across multiple commercial channels, with the goal of preventing esophageal cancer and cancer deaths," said Shaun O'Neil, Lucid's Executive Vice President & Chief Operating Officer. "We believe we can replicate the success of other early cancer detection companies who have supplemented traditional commercial channels by partnering with employers and other self-insured entities to offer early detection testing as an employee or member benefit. We commend Ancira for their commitment to their employees' long-term health through a robust Health & Wellness Program, and for embracing EsoGuard precancer testing as a cost-effective approach to detect, monitor, and treat a precancer before it develops into a highly lethal cancer. We look forward to offering EsoGuard testing to all at-risk Ancira employees through dedicated on-site #CheckYourFoodTube Precancer Testing events in the coming weeks. We expect this to serve as a model for future contractual engagements with employers, unions, and other self-insured entities, which we believe will supplement the strong commercial progress we are making through more traditional payor pathways."

Pursuant to this three-year contract at a negotiated per-employee rate, Lucid will partner with local physicians to identify Ancira employees who meet professional society guidelines for esophageal precancer testing and perform EsoCheck^® cell collection at Ancira locations across the San Antonio metropolitan area. EsoGuard analysis of the samples will then be performed at Lucid's CLIA-certified laboratory in Lake Forest, California. Based on the EsoGuard result, the physician will recommend further monitoring or treatment as indicated by these guidelines.

"We are very excited about teaming up with Lucid Diagnostics and, importantly, making the EsoGuard test available to our employees", said April Ancira, Vice President of Ancira Auto Group. "Ancira is deeply committed to our employee's health and safety, which includes cancer awareness and prevention. By providing this important esophageal precancer test to eligible employees, we intend to accomplish both as we continue to strive to provide Ancira employees with the resources they need to maintain a healthy life and wellbeing."

About Lucid Diagnostics
Lucid Diagnostics Inc. is a commercial-stage, cancer prevention medical diagnostics company, and subsidiary of PAVmed Inc. (Nasdaq: PAVM). Lucid is focused on the millions of patients with gastroesophageal reflux disease (GERD), also known as chronic heartburn, who are at risk of developing esophageal precancer and cancer. Lucid's EsoGuard^® Esophageal DNA Test, performed on samples collected in a brief, noninvasive office procedure with its EsoCheck^® Esophageal Cell Collection Device - the first and only commercially available tools designed with the goal of preventing cancer and cancer deaths through widespread, early detection of esophageal precancer in at-risk patients.

For more information, please visit www.luciddx.com and for more information about its parent company PAVmed, please visit www.pavmed.com.

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