SOURCE: MEDX Health Corp.

MedX Health Corp.

May 23, 2017 13:29 ET

MedX Health Corp. Announces Improved Revenues in First Quarter 2017 Results

MISSISSAUGA, ON--(Marketwired - May 23, 2017) - MedX Health Corp. ("MedX" or the "Company") (TSX VENTURE: MDX) announced its results for the three months ended March 31, 2017, which are also available on SEDAR (www.sedar.com).

The Company reported revenue of $239,810 for the three months ended March 31, 2017, a 27% increase over revenue of $188,701 for the three months ended March 31, 2016. Sales from the Company's therapeutic laser line were very strong in the first quarter. The Company reported a loss for the three months ended March 31, 2017 of $347,859, or $0.00 per share, compared with a loss of $204,494, or $0.00 per share for the 2016 three month period. The 2017 first quarter loss was impacted by non-cash expenses of $120,000.

"We were pleased to see a significant increase in our therapeutic laser sales to begin the year, as our updated product line is gaining traction in the market," noted Rob von der Porten, MedX CEO. "While the revenue from our SIAscopy skin scanning technology was below prior year, we are adding new distribution partners and as well are implementing a number of initiatives across multiple jurisdictions which should result in increasing sales going forward," continued Mr. von der Porten.

About MedX

MedX, headquartered in Mississauga, Ontario, is a leading medical device company focused on skin cancer with its SIAscopy technology. This technology is imbedded in its products SIAMETRICS™, SIMSYS™, and MoleMate™, which MedX manufactures in its ISO 13485 certified facility. SIAMETRICS™, SIMSYS™, and MoleMate™ include hand-held devices that use patented technology utilizing light and its remittance to view up to 2 mm beneath suspicious moles and lesions in a pain free, non-invasive manner, with its software then creating real-time images for physicians and dermatologists to evaluate all types of moles or lesions within seconds. The devices are sold to physicians and clinics, as well as being deployed in pharmacies and remote clinics from where the images are sent to dermatologists who perform a diagnosis. These products are Health Canada, FDA (US), ARTG and CE approved for use in Canada, the US, Australia, the European Union and Turkey. SIAMETRICS™ is a unique product used in a specialized market for research into the clinical effectiveness of medical treatments of certain skin conditions. MedX also designs, manufactures and distributes quality laser and light therapy technologies for use in numerous medical settings, approved in major jurisdictions, to provide drug free and non-invasive treatment of tissue damage and pain. For more information and a complete profile of MedX and its products visit www.medxhealth.com.

Contact Information

  • Contacts:
    Rob von der Porten
    President & CEO
    MedX Health Corp
    905-670-4428 ext 226

    Media Relations

    Deborah Thompson
    Deborah@dt-communications.ca
    416-918-9551