MDxHealth SA, a leading molecular diagnostic company that develops and commercializes epigenetic tests to support the diagnosis and treatment of cancer patients, today announced that it has entered into an agreement with Stratose, one of the largest healthcare PPO network providers in the U.S. The agreement provides Stratose's 12.4 million member network with access to ConfirmMDx for Prostate Cancer testing.
ConfirmMDx for Prostate Cancer provides urologists and their patients with a non-invasive approach to address false-negative biopsy concerns. The test provides urologists with actionable information on the decision for repeat biopsy, aiding in the stratification of patients at sufficiently low risk who may avoid repeat biopsy and return to screening, from those who may be at increased risk for harboring undetected cancer, meriting repeat biopsy and potentially treatment.
"MDxHealth continues to work with payers and specialty networks to expand patient and customer access to the ConfirmMDx for Prostate Cancer test. Stratose's network supplements more than 90 different third-party insurance payers. Since 70% of all MDxHealth ConfirmMDx cases are billed to commercial and third-party payers, these contracts are very important," said Dr. Jan Groen, CEO of MDxHealth. "With the addition of Stratose to our existing payer agreements, more than 80 million covered lives now have access to ConfirmMDx for Prostate Cancer."
Stratose (formerly operating as Coalition America, NPPN, OPPN, PlanCare America, 4MOST Health, Qualident and KeyClaims) works to reduce the cost and ensure the best financial results on every medical, dental and workers' compensation claim for any claims payer. The company maintains one of the largest directly managed PPO networks in the U.S., including more than 850,000 direct and affiliate medical, dental and workers' compensation provider contracts.
MDxHealth (mdxhealth.com) is a molecular diagnostics company that develops and commercializes advanced epigenetic tests for cancer assessment and the personalized treatment of patients. The company's first commercial product, ConfirmMDx™ for Prostate Cancer, has been shown to help distinguish patients who have a true-negative biopsy from those who may have undetected cancer. MDxHealth helps to address a large and growing unmet medical need for better cancer diagnosis and treatment information. The company has a proprietary platform and a strong epigenetic product pipeline focused on the development of products for prostate, brain and lung cancers. The company is based in Irvine, California with a European headquarters in Herstal, Belgium.
Mike Sinclair - Halsin Partners
UK: +44 20 7318 2955 / C:+44 7968 022075
Matt Clawson - Allen & Caron, Inc
US: +1 949 474 4300
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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