MDxHealth (R): MDxHealth Appoints Michael K. McGarrity as CEO

NEWS RELEASE  REGULATED INFORMATION   INSIDE INFORMATION

February 19, 2019 - 07:00 CET

Dr. Jan Groen continues as an advisor to the Board

IRVINE, CA, and HERSTAL, BELGIUM - 07:00 CET, February 19, 2019 - MDxHealth SA (Euronext: MDXH.BR), today announced the appointment of Michael K. McGarrity to the position of Chief Executive Officer and member of the Board of Directors effective February 19, 2019.

Mr. McGarrity has more than 25 years of experience in the healthcare industry with a unique combination of device, diagnostics and biotechnology experience. Michael was most recently the CEO of Sterilis Medical. Prior to Sterilis Michael was the CEO of Nanosphere (NASDAQ: NSPH), a nanotechnology-based molecular diagnostics company, where he engineered an operational and strategic turnaround that resulted in its successful sale to Luminex (NASDAQ: LMNX) in 2016. Prior to Nanosphere, McGarrity spent 13 years at  (NYSE: SYK). McGarrity served in leadership roles in sales and marketing and led Stryker into new growth markets such as post-operative pain management, surgical fluid waste management and interventional pain management. He also had executive general management responsibility for a newly created business unit focused on interventional spine pain management. Michael received a Bachelor of Arts degree from the University of Notre Dame and began his career in commercial banking.

"On Behalf of MDxHealth, I warmly welcome Mike McGarrity as our new CEO," commented Mr. Koen Hoffman Chairman of the board of directors of MDxHealth.  "Mike is an accomplished executive with excellent experience in finance, operations, and sales & marketing within the healthcare industry. His experience combined with his personal integrity and leadership qualifications makes him ideal to take the helm of the Company at this time to maximize value for all of our stakeholders including patients, customers and shareholders."

"I am honored and excited to lead MDxHealth into its next stage of growth," commented Mr. McGarrity. "I am very fortunate to be joining an exceptional team of people who have set the foundation for operational and commercial execution, and I am very confident that we will deliver on the continued mission to bring our precision diagnostics to clinicians and patients around the globe. I would also like to thank Jan Groen for welcoming me to the MDxHealth team and will value his perspective and counsel in his advisory role."  

Mr. Hoffman added: "With deep appreciation for nearly nine years of thoughtful leadership, Jan Groen has led the Company through a successful transformation and has built a leading global molecular diagnostics business in urology. Jan will continue to support the Company in shaping its future as an advisor to the board of directors."

Dr Jan Groen added: "It has been an enormous privilege to serve as CEO of MDxHealth  and I am proud to have worked with a team of remarkable, dedicated and talented people to develop and commercialize novel cancer diagnostic products to improve the lives of patients."

Corporate Governance

• The Company announces that Mr. Jean-Marc Roelandt, CFO of MDxHealth, is on medical leave of absence.  During his absence, Mr. Kurt Schmidt, MDxHealth's Executive Vice President of Finance, will act as the company's interim CFO.
• In addition, the Board of Directors will be initiating a search for new independent Directors with relevant U.S. industry experience.

MDxHealth is a multinational healthcare company that provides actionable molecular diagnostic information to personalize the diagnosis and treatment of cancer. The Company's tests are based on proprietary genetic, epigenetic (methylation) and other molecular technologies and assist physicians with the diagnosis of urologic cancers, prognosis of recurrence risk, and prediction of response to a specific therapy. The Company's European headquarters are in Herstal, Belgium, with laboratory operations in Nijmegen, The Netherlands, and US headquarters and laboratory operations based in Irvine, California. For more information, visit and follow us on social media at: , and .

For more information:

This press release contains forward-looking statements and estimates with respect to the anticipated future performance of MDxHealth and the market in which it operates. Such statements and estimates are based on assumptions and assessments of known and unknown risks, uncertainties and other factors, which were deemed reasonable but may not prove to be correct. Actual events are difficult to predict, may depend upon factors that are beyond the Company's control, and may turn out to be materially different. MDxHealth expressly disclaims any obligation to update any such forward-looking statements in this release to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based unless required by law or regulation.  This press release does not constitute an offer or invitation for the sale or purchase of securities or assets of MDxHealth in any jurisdiction. No securities of MDxHealth may be offered or sold within the United States without registration under the U.S. Securities Act of 1933, as amended, or in compliance with an exemption therefrom, and in accordance with any applicable U.S. securities laws.

NOTE: The MDxHealth logo, MDxHealth, ConfirmMDx, SelectMDx, AssureMDx, PredictMDx and UrNCollect are trademarks or registered trademarks of MDxHealth SA. All other trademarks and service marks are the property of their respective owners. 

Attachment