IRVINE, Calif. and HERSTAL, Belgium, Aug. 14, 2014 (GLOBE NEWSWIRE) -- MDxHealth SA (NYSE Euronext: MDXH), a leading molecular diagnostic company that develops and commercializes epigenetic tests to improve the diagnosis and treatment of cancer patients, today announced that it has signed agreements with Ancillary Care Services (ACS), a subsidiary of American CareSource Holdings Inc. and separately, Consilium, LLC. ACS offers its providers quality and cost-effective healthcare services through their managed care network agreements covering 4.5 million lives. Consilium is a complete solution provider for out-of-network healthcare claims. The agreements provide patients access to MDxHealth's ConfirmMDx ® for Prostate Cancer test.
The addition of these agreements to MDxHealth's current contracted network raises coverage access to the ConfirmMDx for Prostate Cancer testing to over 152 million covered lives throughout the U.S. MDxHealth continues to ensure coverage and reimbursement contracting with PPO, commercial payors and other specialized networks. These agreements permit successful claims adjudication and payment for the ConfirmMDx for Prostate Cancer test for insured patients.
American CareSource Holdings is the first national, publicly traded ancillary care network services company. The company offers a comprehensive national network of more than 5,000 ancillary service providers at more than 33,000 sites through its subsidiary, Ancillary Care Services. ACS provides ancillary healthcare services through its network that offers cost-effective alternatives to physician- and hospital-based services. These providers offer services in 32 categories, including laboratories, dialysis centers, free-standing diagnostic imaging centers, infusion centers, long-term acute care centers, home-health services and non-hospital surgery centers, as well as durable medical equipment. The company's ancillary network and management provide a complete outsourced solution for a wide variety of healthcare payors and plan sponsors, including self-insured employers, indemnity insurers, PPOs, HMOs, third-party administrators and both federal and local governments. For additional information, please visit www.anci-care.com .
Consilium, a Division of Devon Health Services, Inc., leverages a team of certified medical coders and expert negotiators that secure discounts on medical claims. Using a proprietary database, Consilium uses $40 billion in paid claims data to determine fair market value reimbursement for providers. Consilium's product offerings provide a full cost management solution for self funded employers, health plans, third party administrators and unions. Devon Health Services, Inc. is a national healthcare cost management company and the largest privately-owned Preferred Provider Organization (PPO) in the Northeast. The company works with partner networks, third-party administrators (TPA), self-insured organizations, and healthcare providers to increase access to quality, affordable healthcare.
About ConfirmMDx ® for Prostate Cancer
Over 975,000 American men receive a negative prostate biopsy result each year, though approximately 25% of these men may still harbor occult prostate cancer. This well-documented risk of undetected cancer, often with clinically significant Gleason scores, leads to a high rate of repeat biopsies with greater than 40% of men receiving at least one repeat biopsy, and many receiving a 3rd and 4th biopsy. Today's gold standard diagnostic approach is the prostate biopsy procedure, collecting 10-12 needle core biopsy samples; however this sampling represents less than 1% of a man's prostate. ConfirmMDx for Prostate Cancer is an epigenetic assay to help urologists distinguish patients who have a true-negative biopsy from those at risk for occult cancer. The test is able to detect an epigenetic field effect or "halo" associated with the cancerization process at the DNA level. This molecular "halo" around a cancer lesion can be present despite having a normal appearance under the microscope. The test helps urologists rule out prostate cancer-free men from undergoing unnecessary repeat biopsies and rule in high-risk patients who may require repeat biopsies and potential treatment. Performance of the proprietary ConfirmMDx genes and technology has been published in 42 studies with over 4,100 patients tested.
MDxHealth is a leading molecular diagnostic company that develops and commercializes epigenetic tests to support cancer treatment. The company's tests are based on proprietary gene methylation (epigenetics) technology and assist physicians with the diagnosis of cancer, prognosis of recurrence risk, and prediction of response to a specific therapy. For more information visit mdxhealth.com and follow us on Twitter at twitter.com/mdxhealth .
For more information:
| Dr. Jan Groen, CEO | Mike Sinclair (media) |
| MDxHealth | Halsin Partners |
| US: +1 949 812 6979 | UK: +44 20 7318 2955 |
| BE: +32 4 364 20 70 | Cell: +44 7968 022075 |
| info@mdxhealth.com | msinclair@halsin.com |
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.
NOTE: The MDxHealth logo, MDxHealth, ConfirmMDx and PredictMDx are trademarks or registered trademarks of MDxHealth SA. All other trademarks and service marks are the property of their respective owners.
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