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MDxHealth Cuts 2017 Revenue Outlook

MDxHealth SA (MXDHF.PK) said that it will not meet earlier guidance for revenue growth in 2017. In line with prior calendar years, the company had anticipated an increase in volumes during the fourth quarter.

However, the Company has faced timing issues in obtaining billable cases from contracted ConfirmMDx customers and from post-marketing studies that support continuation of Medicare coverage. These delayed contracted cases are expected to partly spill over into 2018.

As a result, the Company will fall short of its year-over-year product-and services revenue growth target of 45-55%, expecting to instead end the year at growth of around 10-15%.Total revenue for 2017, including the revenue from the one-time buy-out of the Company's colorectal patents by Exact Sciences, is expected to grow by approximately 32-37% compared to 2016.

by RTTNews Staff Writer

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