- 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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MDxHealth acquires Oncotype DX prostate test from Exact Sciences