MDxHealth (R): SelectMDx Cost-effective in Four European Countries
NEWS RELEASE REGULATED INFORMATION
Cost savings for healthcare providers in France, Germany, Italy and Spain of over €300 million
IRVINE, CA, and HERSTAL, BELGIUM - 07.00 CEST, 28 August 2018 - MDxHealth SA (Euronext: MDXH.BR) or the "Company" today announces that a study validating the cost-effectiveness of SelectMDx for Prostate Cancer, a non-invasive 'liquid biopsy' to identify patients at increased risk of aggressive prostate cancer, has been published online by the journal Prostate Cancer and Prostatic Diseases .
The study was designed to reveal the cost-effectiveness of SelectMDx in a population of men with elevated prostate specific antigen (PSA) from France, Germany, Italy and Spain. The model used in the study compared the current standard of care, under which men undergo initial prostate biopsy in the case of an elevated PSA, with a strategy where SelectMDx was used to select men for biopsy based on the probability of them harboring the aggressive form of prostate cancer.
In all four countries included in the study, the simulated use of SelectMDx resulted in notable quality-adjusted life year (QALY) gains and cost-savings. In France, SelectMDx resulted in 0.022 QALYs gained at a cost savings of €1217 per patient. For Germany, the model showed a QALY gain of 0.016 and a cost saving of €442. In Italy, the QALY gain and cost savings were 0.031 and €762. In Spain 0.020 QALYs were gained and €250 costs were saved. The implementation of SelectMDx in the four countries was shown to reduce the number of biopsies for initial diagnosis and prevent unnecessary overtreatment. The annual total cost savings for the healthcare providers in the four EU countries is over €300 million. These results further reinforce the cost-effectiveness of SelectMDx already observed in similar studies in The Netherlands and the United States.
Dr. Jan Groen, Chief Executive Officer of MDxHealth , said: "These health-economic studies in four of the EU member States are important because it demonstrates to healthcare providers and reimbursement agencies in the four EU member States the potential of SelectMDx significantly reduce healthcare system costs compare to the current standard of care avoiding overtreatment and overdiagnosis. Alongside the cost-savings, the data shows SelectMDx to be a better safeguard of patient wellbeing and quality of life, as it avoids the side-effects of invasive treatment."
Dr. Groen continued: "These studies are key to drive reimbursement in the respective EU member States. Implementation of SelectMDx into the clinical pathway for prostate cancer diagnosis in all the EU countries might result in an overall total cost savings for healthcare providers of over €1 per year."
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 25,000 patients have been tested and 16 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.
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:
Dr. Jan Groen, CEO
US: +1 949 812 6979
BE: +32 4 257 70 21
LifeSpring LifeSciences Communication
NL: +31 6 538 16 427
Consilium Strategic Communications
Amber Fennell, Chris Welsh & Hendrik Thys
UK: +44 20 3709 5701
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.
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
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