Frost & Sullivan Senior Industry Analyst, Divyaa Ravishankar, commented: "MDxHealth has maintained its commitment to advancing molecular diagnostic tests for urological cancers, continuing to generate data supporting its ConfirmMDx® for Prostate Cancer test, and furthermore, recently launched its urine-based "liquid-biopsy" test, SelectMDx™ for Prostate Cancer. Frost & Sullivan believes that these two offerings can significantly reduce the number of men undergoing unnecessary invasive biopsy procedures, and importantly helps avoid the associated pain, risk of complications, and cost."
Dr. Jan Groen, Chief Executive Officer of MDxHealth stated,"We are delighted to be recognized for our commitment to innovation. MDxHealth's mission is to improve patient outcomes by delivering molecular diagnostic solutions that have a significant impact on the urological diagnosis paradigm. Our ConfirmMDx and SelectMDx tests implement cutting edge technologies to deliver actionable information to urologists for the diagnosis of prostate cancer."
More information on the Award can be found on the Frost & Sullivan website: 2016 Global Prostate Cancer Diagnostics Technology Innovation Award.
MDxHealth (mdxhealth.com) 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.
About ConfirmMDx® for Prostate Cancer
ConfirmMDx for Prostate Cancer helps urologists identify men who may forego an unnecessary repeat biopsy. Each year, more than 1 million American men undergo an invasive prostate biopsy with a negative result, however approximately 30% of those men actually have prostate cancer. The current standard of care for prostate biopsy procedures samples less than 1% of the prostate, leaving men at risk for undetected cancer and leading to a high rate of repeat biopsies, even on cancer-free men. To date over 2,500 urologists have ordered ConfirmMDx on more than 35,000 patients. ConfirmMDx has qualified for Medicare reimbursement as of November 3, 2014 and is also available to more than 152 million insured lives via private health insurance plans.
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 help urologists identify patients at low risk for prostate cancer, reducing unnecessary prostate biopsy procedures and their concomitant complications and expense. SelectMDx also helps identify men at increased risk for high-grade, and potentially lethal disease, who may benefit most from earlier detection. Of the nearly 1.3 million prostate biopsies performed in the US each year, less than a third detect cancer. Most of these men could have avoided a painful and invasive prostate biopsy procedure, with its associated side effects and costs.
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Consilium Strategic Communications
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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.
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