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MDxHealth Receives €12.7M Investment From MVM Partners

NEW YORK – MDxHealth announced Monday that private equity firm MVM Partners has agreed to provide an equity investment of €12.7 million ($13.8 million) to the company.

MVM Partners will receive a subscription of nearly 20.2 million ordinary shares of MDxHealth at an issue price of €0.63 per share, a 5 percent discount to the 45-day volume weighted average price. MVM will become a 22 percent shareholder of the company after the transaction, which is expected to close on or around May 15. 

The funds will be used to support MDxHealth's growth strategy and for general corporate purposes, the company said. The molecular diagnostics firm sells the ConfirmMDx and SelectMDx prostate cancer tests.

Earlier this month, Belgium-based MDxHealth announced a 24 percent increase in first quarter revenues and suspended its financial guidance for 2020 as a result of the COVID-19 pandemic.