After a disappointing H1 MDxHealth will have to work hard to achieve its 55%-75% sales growth guidance. With a historically stronger H2, we are confident that it has now assembled all the elements to fuel the growth of its prostate cancer test ConfirmMDx from the H2 / 2017. Included in key clinical guidelines, ConfirmMDx is now reimbursed by >60 public and private payers, as well as the subject of a number of service agreements with substantial US healthcare networks. A near doubling of the salesforce should enable MDxHealth to drive the rapid adoption of the product by urologists. Growth will also be boosted by marked improvement in revenue recognition as a result of the adoption of the CPT code. Momentum is also growing behind the recently launched SelectMDx with increasing US reimbursement and adoption by a variety of important European distributors and laboratory networks, sustaining growth in the long term. We reiterate our OUTPERFORM recommendation and our TP of €6.50.
08 Sep 2017
Fuelled for take off
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Fuelled for take off
MDxHealth S.A. (0O8G:LON) | 0 0 0.3% | Mkt Cap: 168.5m
- Published:
08 Sep 2017 -
Author:
Chris Redhead -
Pages:
11
After a disappointing H1 MDxHealth will have to work hard to achieve its 55%-75% sales growth guidance. With a historically stronger H2, we are confident that it has now assembled all the elements to fuel the growth of its prostate cancer test ConfirmMDx from the H2 / 2017. Included in key clinical guidelines, ConfirmMDx is now reimbursed by >60 public and private payers, as well as the subject of a number of service agreements with substantial US healthcare networks. A near doubling of the salesforce should enable MDxHealth to drive the rapid adoption of the product by urologists. Growth will also be boosted by marked improvement in revenue recognition as a result of the adoption of the CPT code. Momentum is also growing behind the recently launched SelectMDx with increasing US reimbursement and adoption by a variety of important European distributors and laboratory networks, sustaining growth in the long term. We reiterate our OUTPERFORM recommendation and our TP of €6.50.