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     121  0 Kommentare MDxHealth Reports Half Year 2020 Results

    Conference call with Q&A today at 08:00 CET / 07:00 GMT, details provided below

    IRVINE, CA, and HERSTAL, BELGIUM – August 26, 2020 – MDxHealth SA (Euronext: MDXH.BR), a commercial-stage innovative molecular diagnostics company, today announced its financial results for the half year ended June 30, 2020.

    Michael K. McGarrity, CEO of MDxHealth, commented:

    “Despite the challenges presented by the pandemic, MDxHealth’s compelling value proposition, strong business fundamentals and emphasis on focus and execution remain unchanged. We are confident that our commitment to these growth and value drivers is evident based on the following:

    • ConfirmMDx volume, while down year over year, clearly reflected continued demand through this period of limited patient access and procedures. We view this as evidence of the initiatives we have driven toward sustainable adoption and utilization;
    • Cash collections continued to improve even amid the impact of COVID-19 on unit volume;
    • Operating discipline and focus on quality reflected in our uninterrupted laboratory operations, supply chain management and responsible capital allocation.

    “While our 2020 guidance remains suspended given the challenge to forecast upcoming quarters amid COVID-19, we do expect to see patient flow and growth in associated volumes return as restrictions are lifted.

    “As previously announced in May, we are excited to have received an infusion of growth capital into MDxHealth by MVM Partners, one the highest quality healthcare investors in the United States and Europe. MVM’s investment marks an important validation milestone for the Company and signals recognition of the value proposition our molecular diagnostic tests provide in the diagnosis and treatment of prostate cancer.

    “Our priority continues to be the health of our employees, as well as our customers and their patients in the current environment. Our MDxHealth team has adapted to the current challenges and remains committed to building value for all of our stakeholders, patients, customers, employees and shareholders.”

    Highlights for the half year ended June 30, 2020

    • Total revenues of $9.9 million in H1-2020, down 9% as compared to $10.9 million in H1-2019; ConfirmMDx revenues down 2% versus H1-2019
    • ConfirmMDx billable test volume declined 12% to 7,662 versus 8,732 for the same period last year
    • SelectMDx billable test volume declined 48% to 6,485 versus 12,528 for the same period last year
    • Cash use was $12.9 million, a reduction of $1.1 million, or 8%, versus cash use in H1-2019

          ·Strategic investment in the Company of EUR 12.7 million (or approximately $14.2 million) by MVM V LP and MVM GP (No.5) LP, funds managed by MVM Partners LLP (collectively “MVM”)

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    MDxHealth Reports Half Year 2020 Results Conference call with Q&A today at 08:00 CET / 07:00 GMT, details provided below IRVINE, CA, and HERSTAL, BELGIUM – August 26, 2020 – MDxHealth SA (Euronext: MDXH.BR), a commercial-stage innovative molecular diagnostics company, today announced its …