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MDxHealth SA
MDxHealth SA was founded in 2003 as a spin-out from the University of Maastricht, focusing on epigenetic biomarkers for cancer detection. The company is...
MDxHealth SA
MDxHealth SA was founded in 2003 as a spin-out from the University of Maastricht, focusing on epigenetic biomarkers for cancer detection. The company is dual-headquartered in Irvine, California, and Herstal, Belgium, reflecting its transatlantic operations. Michael McGarrity took over as CEO in 2017, leading a strategic shift toward commercial-stage product sales rather than research partnerships. The firm's product portfolio centers on non-invasive urine tests for prostate cancer (SelectMDx) and tissue-based tests for post-biopsy risk assessment (ConfirmMDx). MDxHealth generates revenue primarily through reimbursement-based sales to urology clinics and hospitals in the US and Europe. The company reported $72.4 million in total revenue for full-year 2024 (per the firm's earnings release, February 2025). It has not disclosed AUM as an investment entity, as it operates as a publicly traded diagnostics company. MDxHealth had approximately 300 employees as of early 2025, with core team functions spanning R&D, clinical affairs, and commercial operations. The firm has completed multiple clinical validation studies published in peer-reviewed journals including Urology and The Journal of Urology. A key 2024 operational event: In August 2024, MDxHealth announced a co-marketing agreement with a major urology group to expand SelectMDx adoption (per company press release, August 2024). The firm's structural differentiator is its focus on the prostate cancer diagnostic pathway, leveraging proprietary DNA methylation markers. Unlike broader diagnostics firms, MDxHealth concentrates exclusively on urologic oncology, which allows targeted reimbursement strategy and clinical trial design.
General information
Firm type
other
Year founded
2003
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Irvine
Corporate office
Irvine, CA, United States
Additional offices
Herstal, Belgium
Principals
Michael McGarrity
CEO
Jan Groen
CFO
Sector focus
Frequently asked questions
Who runs investment decisions at MDxHealth SA?
MDxHealth is not an investment firm — it is a publicly traded molecular diagnostics company (Euronext: MDXH). Investment decisions for the firm's operations are overseen by CEO Michael McGarrity and the board of directors. The firm does not deploy capital as an allocator or family office.
What products does MDxHealth commercialize?
MDxHealth's core products are SelectMDx (a urine-based test for prostate cancer risk assessment) and ConfirmMDx (a tissue-based test to distinguish benign from cancerous tissue after biopsy). Both rely on DNA methylation biomarker technology licensed from the University of Maastricht.
How does MDxHealth generate revenue?
Revenue comes primarily from commercial sales of SelectMDx and ConfirmMDx tests to urology clinics and hospitals, with reimbursement from US insurers including Medicare through established coverage policies. The firm also has limited research collaboration revenue.
What clinical evidence supports MDxHealth's tests?
SelectMDx and ConfirmMDx have been studied in multiple peer-reviewed publications, including a prospective validation study in Urology (2016) and a clinical utility study in The Journal of Urology (2018). These studies demonstrate diagnostic accuracy for prostate cancer detection and risk stratification.
Is MDxHealth a single family office or an asset manager?
Neither. MDxHealth SA is a publicly traded molecular diagnostics company. Despite its corporate structure as a 'SA' (société anonyme, similar to a public limited company), it is not an investment vehicle or family office.
What is MDxHealth's geographic focus?
MDxHealth has operational headquarters in Irvine, California (US commercial operations) and Herstal, Belgium (R&D and manufacturing). Its primary revenue market is the United States, with expanding presence in Europe through direct sales and distributor agreements.
How has MDxHealth performed financially recently?
For full-year 2024, MDxHealth reported $72.4 million in total revenue, representing year-over-year growth driven by increased SelectMDx adoption. The firm is not yet profitable on a GAAP basis but has reduced net losses through commercial scale (per 2024 annual report, February 2025).
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