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Press Release

MDxHealth: SelectMDx Study Demonstrates Cost-effectiveness in US Healthcare System

MDxHealth (R)
Posted on: 31 Jul 18

NEWS RELEASE  REGULATED INFORMATION
                                                                                                                   
  Data published in Journal of Urology reports over $500 million in potential annual cost savings for the US healthcare system  

IRVINE, CA, and HERSTAL, BELGIUM  - 07:00 CEST, July 31, 2018 - MDxHealth SA (Euronext: MDXH.BR) today announces that a study validating the cost-effectiveness of SelectMDx ® for Prostate Cancer, its non-invasive 'liquid biopsy' test that helps identify patients at increased risk of aggressive prostate cancer, has been published in The Journal of Urology .

Dr. Matthew Resnick from the departments of Urologic Surgery and Health Policy at Vanderbilt University Medical Center, Nashville, TN stated: " This study demonstrates that routine use of SelectMDx to guide biopsy decision-making improves health outcomes and lowers healthcare costs associated with prostate cancer risk assessment in a population of U.S. men. We believe that this strategy improves the value of conventional risk assessment strategies through improvements in both quality and cost, the numerator and denominator of the health care value equation."

The study, designed to elucidate the cost-effectiveness of SelectMDx in a population of U.S. men with elevated PSA, modelled the impact of utilizing the non-invasive diagnostic test prior to ultrasound-guided prostate biopsy. The primary objective was to characterize changes in health outcomes, measured in quality-adjusted life years, and a secondary objective was evaluating healthcare costs from the Medicare payer perspective.

The study illustrated that incorporating SelectMDx resulted in an average gain of 0.045 life years in full health gained at a cost-savings of $1,694 for each patient undergoing biopsy. Extrapolating these data to a conservative estimate of 311,879 patients per year undergoing biopsy resulted in 14,035 life years in full health gained with an annual cost saving of more than $500 million for each cohort.

"These compelling study results further validate the positive impact of SelectMDx to reduce healthcare system costs, by helping to guide treatment decisions prior to prostate biopsy," stated Dr. Jan Groen, Chief Executive Officer of MDxHealth. "These data demonstrated the health and economic value of utilizing SelectMDx early in the treatment process will support our negotiations with US health insurance companies."

Dr. Groen continued: "This is a major milestone for our SelectMDx product, reinforcing our strategy to pursue the primary care market. We believe this expansion could quadruple the SelectMDx market opportunity, in the US and Europe, to more than two million patients annually."

The full paper is accessible via the online edition of the Journal of Urology .

About SelectMDx® for Prostate Cancer

SelectMDx for Prostate Cancer is a proprietary urine based, molecular diagnostic test that offers a non-invasive 'liquid biopsy' method to assess a man's risk for prostate cancer. SelectMDx helps identify men at increased risk of harboring aggressive, potentially lethal, prostate cancer who may benefit most from a prostate biopsy and earlier detection. The test helps to reduce the need for MRI procedures and invasive prostate biopsies by up to 50%, thereby improving quality of life and lowering healthcare costs
per patient. SelectMDx is available in the US and all EU member states. Since the introduction of the SelectMDx test in mid-2016, over 23,000 patients have been tested and 15 commercial contracts have been signed with US based insurance companies. The test has been included in the 2018 European Association of Urology (EAU) clinical guidelines.

About MDxHealth ®

MDxHealth is a multinational healthcare company that provides actionable molecular diagnostic information to personalize the diagnosis and treatment of cancer. The company's tests are based on proprietary genetic, epigenetic (methylation) and other molecular technologies and assist physicians with the diagnosis of urologic cancers, prognosis of recurrence risk, and prediction of response to a specific therapy. The Company's European headquarters are in Herstal, Belgium, with laboratory operations in Nijmegen, The Netherlands, and US headquarters and laboratory operations based in Irvine, California. For more information, visit mdxhealth.com and follow us on social media at: twitter.com/mdxhealth , facebook.com/mdxhealth and linkedin.com/company/mdxhealth .

For more information:

MDxHealth

Dr. Jan Groen, CEO

US: +1 949 812 6979

BE: +32 4 257 70 21

info@mdxhealth.com

 
LifeSpring LifeSciences Communication ,

Leon Melens

NL: +31 6 538 16 427

lmelens@lifespring.nl
Consilium Strategic Communications
Amber Fennell, Chris Welsh & Hendrik Thys
UK: +44 20 3709 5701

mdxhealth@consilium-comms.com

 

 
 

 

This press release contains forward-looking statements and estimates with respect to the anticipated future performance of MDxHealth and the market in which it operates. Such statements and estimates are based on assumptions and assessments of known and unknown risks, uncertainties and other factors, which were deemed reasonable but may not prove to be correct. Actual events are difficult to predict, may depend upon factors that are beyond the company's control, and may turn out to be materially different. MDxHealth expressly disclaims any obligation to update any such forward-looking statements in this release to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based unless required by law or regulation.  This press release does not constitute an offer or invitation for the sale or purchase of securities or assets of MDxHealth in any jurisdiction. No securities of MDxHealth may be offered or sold within the United States without registration under the U.S. Securities Act of 1933, as amended, or in compliance with an exemption therefrom, and in accordance with any applicable U.S. securities laws.

NOTE: The MDxHealth logo, MDxHealth, ConfirmMDx, SelectMDx, AssureMDx, PredictMDx and UrNCollect are trademarks or registered trademarks of MDxHealth SA. All other trademarks and service marks are the property of their respective owners. 

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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: MDxHealth (R) via GlobeNewswire
HUG#2208041
GlobeNewswire
globenewswire.com

Last updated on: 01/08/2018

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