20 April 2018
MDxHealth SA: SelectMDx Included in Dutch DRG Reimbursement System
Further progress of strategy to expand market for SelectMDx®
IRVINE, CA, and HERSTAL, BELGIUM – 07:00 CEST, April 20, 2018 – MDxHealth SA ("MDxHealth, or the "Company"), (Euronext: MDXH.BR), a world leader in molecular diagnostics for urological cancers, today announced the inclusion of SelectMDx® for Prostate Cancer, its non-invasive 'liquid biopsy' test that helps to identify patients at increased risk of having aggressive prostate cancer, in the Dutch Diagnosis Related Groups (DRG) reimbursement system.
The DRG reimbursement system was introduced in the Netherlands in 2005. It specifies the reimbursable amounts for 30,000 different treatments and is regulated by the Dutch Healthcare Authority (NZA). Diagnosing and treatment of prostate cancer are also reimbursed under the DRG-system. The SelectMDx test may be used under the DRG-system. Reimbursement amounts are directly negotiated between the healthcare insurers and the healthcare providers. Several Dutch hospitals have already incorporated the SelectMDx test in their prostate cancer diagnostic workflow.
"This is a positive development for MDxHealth and serves as an important step in our strategy to increase the adoption and acceptance of our SelectMDx CE marked test in Europe among urologists and payors. We believe that in light of the ageing male population in the US and Europe, the use of SelectMDx in active monitoring and primary care settings could quadruple the market opportunity for SelectMDx in the mid-term to more than 4 million patients annually in the US and Europe. With the EAU guidelines inclusion for SelectMDx announced last month, we look forward to providing further updates on our progress in European markets.”
Dr. Jan GroenChief Executive Officer of MDxHealth
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 harbouring 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 reducing healthcare costs and improving quality of life.
SelectMDx is available in the US and all EU member states. Since the introduction of the SelectMDx test in mid-2016, over 20,000 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.
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
Jean-Marc Roelandt, CFO
BE: +32 (0) 4 257 70 21
NL: +31 (0) 88 327 2727
Consilium Strategic Communications
Amber Fennell, Chris Welsh & Hendrik Thys
UK: +44 20 3709 5701
LifeSpring LifeSciences Communication, Amsterdam
NL: +31 6 538 16 427
*The SelectMDx IVD PCR kit is not available in all geographies and/or may not be approved for all uses discussed in this press release. It is currently not available for use in the United States.
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.