NEW YORK (GenomeWeb) – MdxHealth announced today that it has raised €12.3 milllion ($15.4 million) in a private placement. The firm sold 3.4 million shares at €3.60 per share to a group of institutional, qualified and professional investors.

"In combination with our existing cash position, these funds allow us to support and scale up MDxHealth's US-based managed care and related healthcare reimbursement efforts," Jan Groen, CEO of MDxHealth, said in a statement. "In addition, it will allow us to accelerate product development and finance general corporate purposes."

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