With FY2016 numbers much in-line with our expectations, MDxHealth is becoming a leader in diagnosis of prostate and other urological cancers. Its lead product ConfirmMDx reducing the need for unnecessary biopsies continues to grow as it is increasingly adopted by US urologists and reimbursed by public and private payers. Its first urine-based biopsy SelectMDx is gaining traction through MDxHealth's existing laboratory and commercial platform. The anticipated launch of an IVD SelectMDx kit for Europe and other markets worldwide combined with a non-invasive test for bladder cancer AssureMDx, promise to drive growth during 2017. We reiterate our OUTPERFORM recommendation and increase our target price to €6.50 from €6/share.
