MDxHealth Names Michael Holder to Lead Audit Committee Amid Leadership Reshuffle

Precision diagnostics firm MDxHealth SA has completed a significant governance transition, bringing seasoned biotech executive Michael Holder into its Audit Committee chair role while navigating a shift in its financial leadership.

The New Leadership Setup

Michael Holder, who brings more than three decades of experience across biotech, medtech, and pharma sectors, officially takes over the Audit Committee chair from Regine Slagmulder following the completion of her tenure in May. Holder’s credentials include four CEO appointments, five CFO roles, and nine board positions at both public and private companies. His professional background encompasses corporate strategy, M&A execution, and governance expertise. Most recently, Holder served as CEO of Sensable Health, an AI-powered wellness platform, while simultaneously chairing the Audit Committee at Cytek Biosciences Inc. (NASDAQ: CTKB) and maintaining board membership at Keyron Medical Ltd.

His educational pedigree includes an MBA from the Wharton School, a Business degree from UNC, and CPA credentials—a combination that positions him to oversee financial controls at MDxHealth with considerable depth.

CFO Transition and Interim Leadership

The company concurrently announced that CFO Ron Kalfus will exit his position effective July 30, 2025, after six years with the organization. Scott McMahan, the Vice President of Finance and Accounting, will assume interim CFO responsibilities following Kalfus’s departure. MDxHealth’s leadership has publicly thanked Kalfus for his contributions during what CEO Michael K. McGarrity characterized as “a period of significant growth” for the diagnostics provider.

McGarrity noted that Holder’s financial acumen and strategic expertise would prove instrumental as the company accelerates expansion in urology-focused markets where it operates its precision diagnostics tests.

What This Means for the Business

Holder’s appointment signals MDxHealth’s commitment to fortified governance and strategic oversight. The company, which specializes in molecular diagnostics for urologic cancers and related conditions, operates laboratory facilities in Irvine, California, and Plano, Texas, with European operations centered in Herstal, Belgium.

The convergence of an experienced Audit Committee chair with interim CFO management comes as institutional investors have shown mixed sentiment. Recent quarterly filings reveal a complex investor dynamic: while five institutional holders increased their positions, twelve reduced exposure to MDxHealth stock (MDXH) during Q1 2025.

Notable portfolio movements included:

• ALYESKA INVESTMENT GROUP cut holdings by 93.0% (936,707 shares), representing approximately $1.33 million in reduced exposure
• SOLEUS CAPITAL MANAGEMENT completely exited its position (-100.0%, 851,688 shares, ~$1.21 million)
• Conversely, AWM INVESTMENT COMPANY and NORTHERN TRUST CORP added shares, with Northern Trust increasing its position by 43.4%

What Investors Should Track

The appointment of Holder and the interim CFO structure represent a recalibration rather than a distress signal, according to board leadership. Board Chair Koen Hoffman emphasized both the “valued service” of departing executives and confidence in the new governance arrangement.

For stakeholders monitoring MDxHealth’s trajectory in the precision diagnostics space, the strength of Holder’s background in fundraising and corporate strategy—combined with the company’s continued focus on urology markets—suggests management is positioning the firm for the next phase of growth despite the transitional moment in financial leadership.