MDxHealth acquires Oncotype DX prostate test from Exact Sciences

Aug. 02, 2022 6:54 PM ETExact Sciences Corporation (EXAS), MDXHBy: Jonathan Block, SA News Editor2 Comments

Prostate Cancer Slide

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  • MDxHealth SA (NASDAQ:MDXH) has acquired the Oncotype DX GPS (Genomic Prostate Score) test from Exact Sciences (NASDAQ:EXAS) as well as the latter's urology sales and marketing team.
  • Under the deal, MDxHealth (MDXH) paid $25M in cash, plus another $5M worth of American Depository Shares. Exact Sciences (EXAS) can also receive up to an additional $70M based on revenue milestones in fiscal years 2023 through 2025.
  • MDxHealth is financing the acquisition through a $35M loan with an affiliate of Innovatus Capital Partners. An additional $35 million can be drawn from Innovatus through a $20M term B loan and a $15 million term C loan in, respectively, 2024 and 2025.
  • After Tuesday's closing bell, Exact Sciences' (EXAS) Q2 2022 results beat on the top and bottom lines though the company lowered its full-year guidance.

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