REGULATED INFORMATION 2 MARCH 2022, 4:00 PM EST / 22:00 CET MDxHealth Reports Financial Year 2021 Results and Provides Outlook and Guidance for 2022 Conference call with Q&A today at 4:30 PM EST / 22:30 CE

Financial Year 2021 Results

Outlook and Guidance for 2022

Conference call with Q&A today at 4:30

IRVINE, CA, and HERSTAL, BELGIUM -

March 2, 2022 - MDxHealth SA (NASDAQ/Euronext: MDXH), a commercial-stage precision diagnostics

company, today announced its financial results for the fourth quarter and year ended December 31, 2021 and provided a business

update and outlook for 2022.

2021 Business Highlights

Michael K. McGarrity, CEO of MDxHealth, commented:

"While 2021 presented continued headwinds related to the pandemic and its continued effect on patient flow for our particular patient

population in prostate cancer, we have made significant progress and we believe our results provide evidence that MDxHealth will emerge

from this challenging period with strong and sustainable growth.

"We believe this progress is evidenced by

for the fourth quarter and year ended December 31, 2021

review for the year ended December 31, 2021

Total revenue for 2021 was $22.2 million, an increase

of 20% as compared to total revenue of $18.5 million for 2020. Services revenue amounted to $21.9 million, an increase of 21% as compared

to $18.1 million a year earlier. Revenue from ConfirmMDx represented over 90% of services revenue for all periods.

Gross profit for 2021 was $10.6 million as compared

to $8.0 million for 2020. Gross margins were 47.5% for 2021 as compared to 43.6% for 2020, representing a gross margin improvement of

390 basis points, primarily related to a higher average selling price (ASP).

Operating expenses for 2021 were $37.4 million,

up 6% from $35.2 million for 2020. Excluding non-cash expenses such as depreciation, amortization and stock-based compensation, operating

expenses for 2021 were $33.1 million, an increase of 10% over 2020, primarily driven by R&D expenses related to our future product

Operating loss and net loss for 2021 were $26.8

million and $29.0 million, respectively, substantially flat compared to $27.1 million and $28.7 million, respectively, for 2020.

Cash and cash equivalents as of December 31, 2021

were $58.5 million, strengthened by gross proceeds from the January equity raise of 25 million (approximately $30 million) and the

November NASDAQ IPO of $45 million. Total cash collections amounted to $21.5 million during 2021, an increase of 1% compared to 2020.

Cash burn for 2021 was $26.8 million compared to $21.9 million in the prior year period.

Michael K. McGarrity, CEO of MDxHealth, commented:

"Even amidst the dynamics of the pandemic's impact on patient visits, we anticipate a return of patient flow and continued

adoption of SelectMDx and ConfirmMDx, which are emerging as the standard of care in the diagnostic pathway of patients at risk for prostate

cancer. We believe that these tests will take hold and drive growth into and beyond 2022.

In addition, we are developing solutions for active

surveillance (AS) of prostate cancer with our AS-MDx and Monitor-MDx tests. These menu additions would provide clinically actionable results

for urologists evaluating cancer patients considered for active surveillance, as well as regular monitoring of these patients where the

current standard of care is an invasive and costly annual biopsy. This is a well-characterized market where urologist are seeking a less

invasive actionable solution.

We believe these initiatives, coupled with our

current menu, will position MDxHealth to be the market leader in providing urologists with advanced diagnostics to support a patient from

an elevated PSA through the diagnostic continuum of care with increased clinical insight and confidence.

Finally, we are encouraged by the initial introduction

of novel molecular UTI testing services into our focused urology channel. The market for UTI testing is well-defined, with urologists

accounting for approximately 20% of the 10 million UTI tests ordered annually in the U.S."

Based on these catalysts for growth, MDxHealth

is providing the following guidance, with growth in 2022 driven by:

Michael K. McGarrity, Chief Executive Officer

and Ron Kalfus, Chief Financial Officer, will host a conference call and Q&A session today at 4:30 PM EST / 22:30 CET. The call will

be conducted in English and a replay will be available for 30 days.

To participate in the conference call, please

select your phone number below and use the Conference ID: 2329214.

International: +1-323-994-2093

United Kingdom: 0800 358 6377

The Netherlands: 0800 023 1436

United States: +1-888-204-4368

Webcast: https://viavid.webcasts.com/starthere.jsp?ei=1529679&tp_key=255b0ee24b

To ensure a timely connection, it is recommended

that users register at least 10 minutes prior to the scheduled start time.

MDxHealth is a commercial-stage precision diagnostics

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 and prognosis of recurrence risk. The Company's European headquarters are in Herstal, Belgium, with laboratory

operations in Nijmegen, The Netherlands, and U.S. headquarters and laboratory operations based in Irvine, California. For more information,

Financial statements and auditor review

The Company's statutory auditor, BDO Bedrijfsrevisoren

BV, has confirmed that its audit procedures with respect to the Company's consolidated financial statements, prepared in accordance with

the International Financial Reporting Standards as issued by the International Accounting Standards Board (IASB) and as adopted by the

EU, have been substantially completed, that the procedures completed to date have not revealed any material adjustments that would have

to be made to the accounting information derived from the Company's consolidated financial information that is included in this press

The condensed Consolidated Statement of Comprehensive

Income may be found on the Company's website at www.mdxhealth.com. The full Annual Report is expected to be made available to the public

via the Company's website in April 2022.

For more information:

LifeSci Advisors (IR & PR)

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. Examples of forward-looking statements include, among others, statements we make

regarding expected future operating results; product development efforts, our strategies, positioning, resources, capabilities and expectations

for future events or performance. Important factors that could cause actual results, conditions and events to differ materially from those

indicated in the forward-looking statements include, among others, the following: uncertainties associated with the coronavirus (COVID-19)

pandemic, including its possible effects on our operations, and the demand for our products; our ability to successfully and profitably

market our products; the acceptance of our products and services by healthcare providers; the willingness of health insurance companies

and other payers to cover our products and services and adequately reimburse us for such products and services; and the amount and nature

of competition for our products and services. 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, AS-MDx and MonitorMDx are trademarks or registered trademarks of MDxHealth SA. All other trademarks and service

marks are the property of their respective owners.