With the agreement now reached with Unilabs, MDxH's SelectMDx will now be widely available across major European markets. A Swiss-based laboratory service provider with over 200 laboratories and imaging facilities in nine countries including the major markets - France, UK, Italy, Scandinavia as well as Switzerland, this distribution agreement appears to be a further endorsement of SelectMDx IVD following the first agreement with the German laboratory group Limbach. With ConfirmMDx now reimbursed by >60 payers and pushed by a near doubling of the salesforce in the US, SelectMDx is expected to drive growth in Europe and RoW. We are optimistic that, following a sluggish H1, the company will see growing sales momentum over the next 12 months. We reiterate both our OUTPERFORM recommendation and €6.50 target price.
