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    MDXH   BE0003844611

MDXHEALTH SA

(MDXH)
  Report
Real-time Euronext Bruxelles  -  11:35 2022-11-29 am EST
0.6640 EUR   -6.74%
04:07pMDxHealth Provides Business Update
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04:07pMDxHealth Provides Business Update
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11/04European ADRs Move Higher in Friday Trading
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MDxHealth SA acquired Oncotype DX GPS Prostate Cancer Business from Exact Sciences Corporation for $100 million.

08/02/2022 EST

MDxHealth SA (ENXTBR:MDXH) acquired Oncotype DX GPS Prostate Cancer Business from Exact Sciences Corporation (NasdaqCM:EXAS) for $100 million on August 2, 2022. Mdxhealth has financed the acquisition in part through a $35 million loan and security agreement with an affiliate of Innovatus Capital Partners, LLC ("Innovatus"), which loan also replaces the Company's existing EUR 9 million debt facility with Kreos Capital. Under the terms of the asset purchase agreement an amount of $25 million was paid in cash and an amount of $5 million will be settled through the delivery of 691,171 American Depositary Shares ("ADSs") of the MDxHealth, at a price per ADS of $7.23. Following the closing an additional aggregate earn-out amount of up to $70 million is to be paid by mdxhealth to Exact Sciences upon achievement of certain revenue milestones related to fiscal years 2023 through 2025, with the maximum earn-out payable in relation to 2023 and 2024 not to exceed $30 million and $40 million, respectively. At the option of mdxhealth, the earn-out amounts can be settled in cash or through the issuance of additional ADSs of the MDxHealth to Exact Sciences, provided that the aggregate number of shares representing the ADSs held by Exact Sciences shall not exceed more than 5% of the outstanding shares of mdxhealth.
Jefferies LLC acted as sole financial advisor and Foley Hoag acted as lead legal counsel to mdxhealth for the acquisition; Baker McKenzie acted as lead legal counsel to mdxhealth for the debt facility.

MDxHealth SA (ENXTBR:MDXH) completed the acquisition of Oncotype DX GPS Prostate Cancer Business from Exact Sciences Corporation (NasdaqCM:EXAS) for $100 million on August 2, 2022.


ę S&P Capital IQ 2022
Stocks mentioned in the article
ChangeLast1st jan.
MDXHEALTH SA -6.74% 0.664 Real-time Quote.-24.72%
All news about MDXHEALTH SA
04:07pMDxHealth Provides Business Update
GL
04:07pMDxHealth Provides Business Update
GL
11/04European ADRs Move Higher in Friday Trading
MT
10/27MDxHealth Reports Q3-2022 Results
GL
10/27MDxHealth Reports Q3-2022 Results
AQ
10/27MDxHealth SA Reaffirms Revenue Guidance for the Year 2022
CI
10/27MDxHealth SA Reports Earnings Results for the Third Quarter and Nine Months Ended Septe..
CI
08/29Oppenheimer Adjusts MDxHealth Price Target to $21 From $18, Maintains Outperform Rating
MT
08/26BTIG Adjusts Price Target on MDxHealth to $15 From $13, Reiterates Buy Rating
MT
08/26MDXHEALTH SA : Half-year report
CO
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Analyst Recommendations on MDXHEALTH SA
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Financials
Sales 2022 40,9 M 42,3 M 42,3 M
Net income 2022 -33,9 M -35,1 M -35,1 M
Net Debt 2022 - - -
P/E ratio 2022 -
Yield 2022 -
Capitalization 108 M 112 M 112 M
Capi. / Sales 2022 2,65x
Capi. / Sales 2023 1,60x
Nbr of Employees 191
Free-Float 84,3%
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Mean consensus -
Number of Analysts 0
Last Close Price 0,66
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Managers and Directors
Michael K. McGarrity Chief Executive Officer & Executive Director
Ron Kalfus Chief Financial Officer
Koen Hoffman Chairman
Miriam Reyes Executive Vice President-Operations
Joseph Sollee Chief Compliance Officer, EVP & General Counsel
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