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MedX Health’s global sales team discuss the commercialization of their teledermatology screening platform across North America, Europe and the Middle East

In a recent InvestorIntel interview, Tracy Weslosky spoke with Mike Druhan, President of Dermatology Services, Naman Demaghlatrous, Managing Director, Europe, Middle East & Africa and Dr. Paul Ziemer, Managing Director, North America at MedX Health Corp. (TSXV: MDX) about how MedX Health’s global sales team is driving commercialization of their teledermatology screening platform across North America, Europe and the Middle East.

In this InvestorIntel interview, which may also be viewed on YouTube (click here to subscribe to the InvestorIntel Channel), Mike Druhan said that MedX’s teledermatology platform is built on DermSecure™, which provides detailed patient scans for virtual dermatological assessment by a certified dermatologist within just 72 hours. As the healthcare system moves towards improving patients’ accessibility to healthcare, Naman Demaghlatrous explained how MedX Health can provide access to the best dermatology specialists even in remote areas and help save lives.

To watch the full interview, click here

About MedX Health Corp.

MedX, headquartered in Ontario, Canada, is a leading medical device and software company focused on skin health with its SIAscopy® on the DermSecure® telemedicine platform, which utilizes its SIAscopy® technology. SIAscopy® is also 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 reflectance 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 within seconds for physicians and dermatologists to evaluate all types of moles or lesions.  These products are cleared by Health Canada, the U.S. Food and Drug Administration, the Therapeutic Goods Administration and Conformité Européenne, for use in Canada, the US, Australia, New Zealand, the European Union, Brazil and Turkey.

To learn more about MedX Health Corp., click here

Disclaimer: MedX Health Corp. is an advertorial member of InvestorIntel Corp.

This interview, which was produced by InvestorIntel Corp. (IIC) does not contain, nor does it purport to contain, a summary of all the material information concerning the “Company” being interviewed. IIC offers no representations or warranties that any of the information contained in this interview is accurate or complete.

This presentation may contain“forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on the opinions and assumptions of the management of the Company as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein.

Any projections given are principally intended for use as objectives and are not intended, and should not be taken,  as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. Prospective investors are urged to review the Company’s profile on Sedar.com and to carry out independent investigations in order to determine their interest in investing in the Company.

If you have any questions surrounding the content of this interview, please contact us at +1 416 792 8228 and/or email us direct at info@investorintel.com.




MedX Health’s teledermatology platform brings healthcare to the fingertips of patients

In a recent InvestorIntel interview, Tracy Weslosky spoke with Mike Druhan, President of Dermatology Services and Naman Demaghlatrous, Managing Director, Europe, Middle East & Africa at MedX Health Corp. (TSXV: MDX) about MedX Health’s recent milestones including a distribution agreement with Al Zahrawi, the largest distributor of medical devices in the Gulf Cooperation Council (GCC) region.

In this InvestorIntel interview, which may also be viewed on YouTube (click here to subscribe to the InvestorIntel Channel), the panel highlighted the digital transformation in healthcare driven by the COVID-19 pandemic and explained how MedX Health’s teledermatology platform brings healthcare to the fingertips of patients. Having launched a series of commercialization pilots across Europe and the Middle East, Mike explained how MedX Health’s agreement with Al Zahrawi will speed up the commercialization process for its DermSecure® Teledermatology Screening Platform.

To watch the full interview, click here

About MedX Health Corp.

MedX, headquartered in Ontario, Canada, is a leading medical device and software company focused on skin health with its SIAscopy® on DermSecure® telemedicine platform, utilizing its SIAscopy® technology. SIAscopy® is also 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. These products are cleared by Health Canada, the U.S. Food and Drug Administration, the Therapeutic Goods Administration and Conformité Européenne for use in Canada, the US, Australia, New Zealand, the European Union, Brazil and Turkey.

To learn more about MedX Health Corp., click here

Disclaimer: MedX Health Corp. is an advertorial member of InvestorIntel Corp.

This interview, which was produced by InvestorIntel Corp. (IIC) does not contain, nor does it purport to contain, a summary of all the material information concerning the “Company” being interviewed. IIC offers no representations or warranties that any of the information contained in this interview is accurate or complete.

This presentation may contain“forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on the opinions and assumptions of the management of the Company as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein.

Any projections given are principally intended for use as objectives and are not intended, and should not be taken,  as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. Prospective investors are urged to review the Company’s profile on Sedar.com and to carry out independent investigations in order to determine their interest in investing in the Company.

If you have any questions surrounding the content of this interview, please contact us at +1 416 792 8228 and/or email us direct at info@investorintel.com.




MedX Health’s SIAscopy®, The Future of Remote Dermatological Diagnosis has Arrived

The Covid pandemic has certainly resulted in one positive thing – It has been instrumental in advancing numerous technologies. Perhaps the most obvious example is meeting from home via Zoom/Skype/Google etc., which has become commonplace, and may reshape the future of the workplace. Along this line, the necessity of trying to maintain healthcare, while not being able to meet in person, has rapidly advanced the acceptance of telemedicine. I have 80+ year old family members using video conferencing to seek advice from healthcare professionals, which is something I would have bet big dollars against just 2 years ago. I think the necessity of embracing this technology could lead to a step-change in the efficiency and effectiveness of the healthcare system. All of which should be good for humanity as a whole.

One participant in the telemedicine space is MedX Health Corp. (TSXV: MDX), a leading medical device and software company focused on skin health, utilizing its patented SIAscopy® device and its secure, cloud-based, patient data management system, the DermSecure® telemedicine platform. The SIAscope® is a cost effective medical device used to scan suspicious moles and lesions, using specific light wavelengths to penetrate 2mm below the surface of the skin. The scan is read by a trained physician or dermatologist and a determination is made as to whether the suspicious mole or lesion needs a follow-on appointment, or the patient is deemed clear of follow up. The scans taken by SIAscopy® along with other relevant patient information can be transmitted to specialist physicians for remote assessment. The technology is now being used in over 200 pharmacies in 3 countries with regulatory approvals in 35 countries including the USA, Canada, Australia, Brazil and the EU.

Even without a pandemic, getting in to see a dermatologist can be a challenge. With dangerous conditions like skin cancer on the rise, rigorous and regular screening is important, now more than ever. No one should have to anxiously wait for months to have a skin condition assessed. That’s why it would appear that MedX has the right tool for a world that is moving towards greater trust and acceptance of telemedicine, at least as an initial screening tool. SIAscopy® is rapid, patient-friendly, accurate, has been used for over 12 years, and is supported by over 15 published clinical studies. The hard work has been done, now it’s time to take advantage of the opportunity presented by the growing acceptance of new and unique ways of doing things.

To this end, MedX recently beefed up its C-suite by appointing a new President & CEO, Mr. Sylvain Desjeans, in August of this year and, more recently, a new CFO, Ms. Lesley Bourget. MedX is aiming to accelerate its global sales, and Mr. Desjeans has a strong track record of growing sales. He has more than 30 years of industry experience in both healthcare and pharmaceuticals. He has a history of successfully executing large-scale growth plans and global product licensing initiatives. Ms. Bourget has 30+ years of experience in healthcare, pharmaceutical and CPG industries, and has a proven track record for profit generation by successfully leading product portfolio optimization efforts, negotiating large-scale acquisitions, and conceiving and implementing mergers in the R&D space. These two appointments create a solid one-two punch at the helm of MedX.

The new leadership team is already spurring momentum for the Company with 3 corporate updates in the last week alone.

  • On Nov 17th MedX announced an inaugural clinical trial of its leading-edge DermSecure® Screening Platform at three university hospitals across Turkey in early 2022. The clinical trial will run for 6 months and involve an estimated 300 patients throughout Turkey. Following its successful completion, MedX and its distribution partner Makromed/Arhan Global A.Ş, anticipate the technology will become more widely available in clinics, pharmacies and insurance companies across the country.
  • On Nov 18th the Company and Al Zahrawi Medical Supplies LLC announced an MoU between the companies on a two-phase commercialization pilot and distribution agreement for MedX’s DermSecure® Screening Platform at select United Arab Emirates oncology and dermatology clinics. The three-month pilot will involve an estimated 1,000 patients at four dermatology and oncology clinics in Abu Dhabi and Dubai. Upon the successful completion of the two phases, the MedX DermSecure® Screening Platform will become more widely available at clinics and healthcare facilities across the UAE.
  • And just yesterday, MedX reported it had recently convened Medical Advisory Boards of leading dermatologists across Canada and the United States to explore clinical application opportunities for its image capture technology, SIAscopy®, and patient management system, DermSecure®. Summarized findings from both advisory boards will help validate the technological uses and benefits of SIAscopy® in clinical practice, particularly as a triage tool for dermatological assessment of suspicious moles and lesions.

The products have been proven, and to me anyway, seem to be an obvious addition to any dermatological screening repertoire. If the new management team can execute the game plan similar to the way they have in the past, MedX could see some exciting times ahead. With a current market cap of roughly $16 million, there is a lot of leverage to increased revenue. However, with a quarterly burn rate of $1.0-$1.5 million and only $1.8 million of cash available at the end of Jun/21 MedX could be requiring a capital raise in short order. Telemedicine is the promised land for widespread medical screening, and MedX has already arrived on its shore.




MedX has brought in two new top guns to accelerate its skin cancer diagnosis products sales

Detecting skin cancer early is all about seeing below the skin’s surface. Today’s company has pioneered a device that can view up to 2mm below the skin, take an image, and send it to be analyzed using telemedicine.

The company is MedX Health Corp. (TSXV: MDX) (‘MedX’). MedX states that its “technology is the only technology that captures five images, including four spectrophotometric images  2mm below the skin’s surface.” This gives MedX an edge in the non-invasive diagnosing of skin diseases, especially cancers.

MedX is a medical device and medical software company focused on skin health with its SIAscopy™ device, which  operates with its  DermSecure™ telemedicine platform. The technology is now being used in over 200 pharmacies in 3 countries with regulatory approvals in 35 countries including the USA, Canada, Australia, Brazil and the EU.

MedX’s SIAscopy™ device combines with the DermSecure™ telemedicine platform

Source: MedX website

MedX’s technological edge

MedX’s SIAscopy™ devices (also branded as SIAMETRICS™, SIMSYS™, and MoleMate™) include handheld units that use its patented technology, which uses  selected frequencies of light and its reflectance to image and view up to 2mm beneath suspicious moles and lesions in a pain-free, non-invasive manner. Its software creates real time images for physicians and dermatologists to evaluate all types of moles or lesions within seconds. The company’s products are cleared by Health Canada, the U.S. Food and Drug Administration, the Therapeutic Goods Administration and Conformité Européenne for use in Canada, the US, Australia, New Zealand, the European Union, Brazil and Turkey.

Revenues have so far been slow to ramp during 2021 so the MedX board has appointed two new top guns to get sales moving.

New President & CEO Mr Sylvain Desjeans and new CFO Ms Lesley Bourget

MedX appointed a new President & CEO, Mr Sylvain Desjeans, in August 12, 2021.  MedX  is aiming to accelerate its global sales, and Mr Desjeans has a strong track record of growing sales. He has more than 30 years of industry experience in both health care and pharmaceuticals.

Rob von der Porten, Chairman of the MedX Board of Directors, stated: “As a leader, he is exceptional at building sales, opening distribution channels and developing high-performing teams that deliver results, all of which are imperative for MedX to achieve our growth plans in Canada, the US and internationally.”

Mr. Desjeans served in successively senior roles at organizations such as Aspen Pharmacare Canada, Accucaps Industries Limited, and Biovail Pharmaceuticals.

The new CFO is Ms Lesley Bourget. MedX states that she has “more than 30 years’ experience in the health-care, pharmaceutical, and CPG industries. Ms. Bourget has a proven track record of profit generation by successfully leading product portfolio optimization efforts, negotiating large-scale acquisitions, and conceiving and implementing mergers in the R&D space. Ms. Bourget most recently served as CFO of Aspen Pharmacare Canada, where she was instrumental in achieving company-record profit levels, and optimizing inventory and wholesaler processes.”

Note: Aspen Pharmacare Canada is a branch of Aspen Pharmacare Holdings (market cap US$6.9 billion), a South African-based supplier of branded and generic pharmaceuticals in more than 150 countries.

Recent achievements by MedX

MedX had some early success selling their skin diagnosis products globally as I discussed in a past article here. More recent positive news from MedX includes:

  • June 2021 – MedX and VidaCeuticals Health Products announced a North American distribution partnership. The rollout of MedX’s products is initially at four clinics in Ontario (London, Ottawa, Port Elgin and Sarnia) beginning in late June, with plans for a broader market rollout in Canada, and the United States, later in 2021. VidaCeuticals’ mission is to bring to market the most innovative, high-quality products based on cutting edge research on the most powerful, proven, natural ingredients.
  • September 2021 – MedX and Vitamed Biomedical announced an MOU to pilot MedX’s leading-edge DermSecure® screening platform at select pharmacies, and general practitioner clinics, in Italy starting October 2021. MedX state: “Pending its successful completion, the MedX DermSecure® Screening Platform will become more widely available at pharmacies and GP clinics, and will be approved  by  insurance companies across Italy, as the next step in the commercialization strategy in this market.”

The MedX business model

MedX makes some money on selling its specialized  hardware (costs C$700 and sells for C$1,600-2,000), but the real potential revenues are set to come from the scans. MedX receives ~$10 per assessment/scan based on their Software as a Service (“SaaS”) business model. The scan cost for MedX is only ~C$0.26 so margins for the service are very high.

Closing remarks

It would be fair to say that MedX has struggled to ramp up their revenue as quickly as what was initially anticipated. Of course, this is not unusual for new businesses, as we even saw this with Tesla.

MedX now has a new President/CEO in place who has a proven track record of growing sales and opening distribution channels. They also have a new CFO with a strong track record.

MedX trades on a market cap of just C$18 million, which will certainly look cheap if the new CEO and CFO can get global sales moving as the development work is already done. The products (SIAscopy™ & DermSecure™) are leading edge and cleared by regulatory bodies in 35 countries (including the USA, Canada, Australia, Brazil, EU). Certainly, the need to diagnose skin cancer early is very strong with 7,180 deaths globally per year from melanoma and 4,630 from other forms of skin cancer. The company’s target is rollouts to grow distribution and sales. Its products are state-of-the-art and have wide applications globally.




MedX Health distribution partnership with VidaCeuticals sets the groundwork for a broader market roll-out in Canada

When we last looked at MedX Health Corp. (TSXV: MDX) we talked about how the heavy lifting had been done, their product is now scalable and management is focused on getting the product to market. That is exactly what the company has been up to.

As a refresher, MedX is a leading medical device and software company focused on skin health utilizing its patented SIAscopy® on the DermSecure® telemedicine platform. The Company has a cost effective medical device to scan suspicious moles and lesions, using specific light wavelengths to penetrate 2mm below the surface of the skin. The scan is read by a trained physician or dermatologist and a determination is made as to whether the suspicious mole or lesion needs a follow-on appointment, or the patient is deemed clear of follow up. The scans taken by the SIAscopy® along with other relevant patient information can be connected to specialist physicians for remote assessment. In terms that I understand, it’s an easy to use and cost effective tool for the potential early detection of melanoma and should be in every doctor’s office, pharmacy and health care establishment, period, full stop.

During the last three years, MedX has invested in developing its DermSecure™ telemedicine software platform. The Company has now begun a process to build awareness about the benefits of its SIAscopy™ on DermSecure™ telemedicine platform locally and internationally, which should increase revenues going forward. Needless to say marketing of DermSecure® was significantly impacted by COVID-19. All the markets in which the Company has been actively marketing the product were challenged by the difficulty in meeting with potential customers during this period, reaching out to dermatologists, and the regulatory processes in most countries being slowed considerably. However, being an optimist that vaccinations will keep us ahead of the delta variant and hopefully any others that follow, we should begin to see MedX’s marketing efforts turn a corner as witnessed by recent corporate news.

The Company is starting to see progress on numerous fronts. First quarter results showed a 14.8% increase in revenue year over year, and importantly this came from an almost double in revenue from its SIAscopy® products. Revenues from MedX’s therapeutic laser products for the three months ended March 31, 2021 were 8.3% lower than in the first quarter of 2020, although while sales were lower, order flow for the second quarter is stronger. As noted before the therapeutic laser products market is highly competitive, characterized by pricing pressure and multiple competitive products. Thus it is encouraging to see revenue growth from the SIAscopy® side of the business and its increasing importance in the overall revenue picture.

Additionally, MedX just announced a North American distribution partnership with VidaCeuticals Health Products Inc. that will see MedX’s integrated skin assessment teledermatology platform offered at four clinics in Ontario beginning in late June. However, this is only the start of this partnership that envisions plans for a broader market roll-out in Canada and the United States later this year. All of this stems from a focus shift by the Company in Sep/20 when MedX announced management changes to enhance its focus on its dermatological services and products. Initial results from that renewed focus led to a sales agency agreement with the Ziemer Professional Corporation to expand North American clinic sales, a partnership with Netherlands national telehealth leader to roll out DermSecure® and an MoU with Empower Clinics in Ontario to pilot MedX’s leading-edge DermSecure® Screening Platform.

Going back to the Q1 results, the gross margin for the three months ended March 31, 2021 was 44.7% of sales versus 36.7% of sales in the prior year. To me, that sounds reasonable but the Company believes this is lower than expected as the base level of sales is still low (but growing), and many related costs are fixed in nature. This paints an encouraging outlook for MedX as traction for its SIAscopy™ on DermSecure™ telemedicine platform appears to be gaining momentum, which will serve to improve both top-line revenue and margins.

As with a lot of company’s at this stage of their evolution, the MD&A goes on at length about liquidity and capital resources. However, the leverage here is interesting (at least to me). Sequential improvement on revenue and margins will reduce the cash burn rate and improve the ability to raise more capital, if necessary. If MedX’s stock price can get above $0.20/share there are currently 35.8 million warrants that could be exercised at that price generating over $7 million in working capital. With a burn rate of roughly $1 million per quarter that would be plenty of cash for the foreseeable future. The stock price was above that threshold in March of this year, let’s see if they can do it again and let the Company focus on what it does best.




World class skin cancer diagnostic technology prepares to treat the world.

Have you ever tried to get a dermatology appointment? I don’t know about anywhere else in the world but in Canada it can be a real pain in the you know what. Apparently there are only around 500-550 dermatologists to serve 37+ million of us, so wouldn’t it be great if someone came up with a decentralized, more accessible solution for initial screening of potential skin anomalies. Well someone has, and that someone is MedX Health Corp. (TSXV: MDX). MedX is a leading medical device and software company focused on skin health with its SIAscopy® on the DermSecure® telemedicine platform.

MedX has developed the SIAscope®, which is a hand-held Class IIA medical device and the only image-capture technology on the market that provides clinical, dermascopic and spectrophotometric views of moles. It uses patented technology to view up to 2 mm beneath suspicious moles and lesions in a pain free, non-invasive manner, with the Company’s software then creating real-time images for physicians and dermatologists to evaluate all types of moles or lesions within seconds. The technology allows healthcare providers, like physicians, pharmacists and healthcare technicians, to capture perfect clinical images with 100% image integrity.

Seems like an elegant solution for those of us who shrug off every opportunity to visit a doctor given this preliminary assessment can be done at your local pharmacy, assuming they have a SIAscope®. If you go to the doctor more frequently than I do or a walk in clinic, the doctor or practitioner on staff can take the first step in assessing a suspicious mole or skin lesion. The scan is then read by a trained physician or dermatologist and within 72 hours a determination is made as to whether the suspicious mole or lesion needs a follow-on appointment, or the patient is deemed clear of follow up without having to wait an additional several weeks or months to get into the dermatologist for that first assessment.

As we’ve all been told hundreds of times (or more) over the years, detecting symptomatic patients as early as possible gives someone the best chance for successful treatment. Some of the stats are quite shocking when you consider that if a Stage 1 melanoma is detected, Health Canada estimates the cost to treat it at around $2,400 and the Canadian Cancer Society estimates the 5 year survival rate at 97%. Compare that to not diagnosing a melanoma until Stage 4 (when the cancer has spread to other parts of the body and is often hard to cure with current treatments) which sees the cost to treat skyrocket to approximately $1,000,000 and the 5 year survival rate drop to 20-30%.

So why isn’t the SIAscope® in every doctor’s office, pharmacy, clinic, grocery store and gas station on the planet? The team at MedX are trying. Currently their products are cleared for use in the US, Canada, Australia, New Zealand, the European Union, Brazil and Turkey. However, after proof of concept was completed the company recognized that it didn’t have its own telemedicine portal and didn’t control its data thus it was unable to control the ability to monetize all of this, which despite the noble effort of trying to diagnose cancer early, is ultimately the objective of a publicly traded company. So they took a step back and spent a year and a half to build out a platform, developed along with the dermatology community, that has become their patient management system – DermSecure®. The platform enables the Company to move to a recurring revenue model, where it can earn revenue based on the number of patient reports generated from the system. This new, secure system started getting traction in early 2020 with a 500 SIAscope® order from Brazil. Then Covid-19 threw a wrench into the rollout.

Additionally, the company has a second business line, its phototherapeutic products that have been available in the market for many years. The Company has sold thousands of these products to practitioners in clinics, academic facilities, hospitals, long term care facilities, athletes and sports teams. However, the markets in which the Company sells these products are highly competitive, characterized by pricing pressure and multiple competitive products. Correspondingly, in Sep/20 MedX announced management changes to enhance its focus on its dermatological services and products. That focus shift has led to a sales agency agreement with the Ziemer Professional Corporation to expand North American clinic sales, a partnership with Netherlands national telehealth leader to roll out DermSecure® and an MoU with Empower Clinics in Ontario to pilot MedX’s leading-edge DermSecure® Screening Platform.

With COVID-19 almost doubling the wait times in order to see a dermatologist, MedX’s DermSecure® telemedicine platform provides a perfect solution which should continue to gain traction. The heavy lifting has been done, the product is now scalable and management is focused on getting this product to market. Let’s see if that starts translating into some much anticipated revenue growth.




Kris Krane on Biden’s impact on the nationwide decriminalization of cannabis

In the latest InvestorIntel interview, Tracy Weslosky speaks with Kris Krane, President of 4Front Ventures Corp. (CSE: FFNT | OTCQX: FFNTF) about the company’s success in getting to a $1B market value in the cannabis business.

This InvestorIntel interview, which may also be viewed on YouTube (click here to subscribe to the InvestorIntel Channel), has Kris describing how advocacy, professionalism and low-cost production at scale are the keys to make 4Front a success as they compete with other multi-state operators. With the announcement that New York is joining the ranks of legal, adult-use cannabis states and the anticipation that there could be 2-4 more states legalizing before year-end, it is imperative that a successful enterprise be ready for the evolution of the competition which leads to downward price compression. With a strong advocacy background, Kris is on the leading edge of Government policy and has some interesting, if not controversial, views on who’s leading the charge for safe banking legislation and nationwide decriminalization.

To watch the full video, click here

About 4Front Ventures

4Front is a national multi-state cannabis operator and retailer, with a market advantage in mass-produced, low-cost quality branded cannabis products. 4Front manufactures and distributes a portfolio of over 25 cannabis distributed through retail outlets and their chain of strategically positioned Mission branded dispensaries. 4Front has operations in Illinois, Massachusetts, California, Michigan, and Washington State. From plant genetics to the cannabis retail experience, 4Front’s team applies expertise across the entire cannabis value chain.

To learn more about 4Front Ventures, click here




Commercializing their telemedicine platform globally for the early detection of skin cancer, MedX Health revenue (and stock) is rising

MedX Health Corp’s  (TSXV: MDX) (‘MedX’) stock price is beginning to move higher as they gain further success commercializing their SIAscope and DermSecure™ telemedicine platform globally for the early detection of skin cancer.

MedX’s stock price is moving

Source

MedX is a leading medical device and software company focused on the early detection of skin cancer. MedX’s platform is being used in over 200 pharmacies in 3 countries with regulatory approvals in 35 countries including Australia, Brazil, Canada, the European Union, New Zealand, Norway, Turkey and the USA. In the Netherlands MedX and their local partner have begun to very successfully rollout their platform in skin screening clinics.

The Netherlands has started very strongly

In news released late in 2020, MedX announced they are now rolling out DermSecure® in the Netherlands, partnering with national telehealth leader IVPG. Below are the key highlights:

  • “MedX partners with national telehealth leader IVPG in the Netherlands.
  • Two skin screening clinics opened in November 2020, with more than 800 assessments on close to 500 patients completed to date using MedX’s DermSecure® platform.
  • Three additional clinics to come online in the Netherlands by the end of December 2020.
  • IVPG plans to expand to 41 skin assessment clinics by 2022.
  • More than half of all cancers reported in the Netherlands are skin cancers.”

Based just on the above information we can see MedX’s DermSecure® should be in a total of 46 clinics by 2022, all going to plan. Clearly, if the ramp-up of clinics does reach 46, then the number of assessments will be much higher, as would revenues, just for the Netherlands. In Norway, MedX has already done over 80,000 assessments/scans. MedX is already on the way to achieving sales in several other countries including North America, Mexico, Brazil (500 units sold), and Canada.

MedX makes some money on selling the hardware (costs C$700 and sells for C$1,600-2,000), but the real potential revenues are set to come from the scans. MedX receives ~$10 per assessment/scan based on their Software as a Service business model. The scan cost for MedX is only ~C$0.26 so margins are very high.

December 15, 2020, Beacon Securities report states:

“We believe investors should understand the recurring, high margin, revenue juggernaut that is in the midst of being created. Given the metrics already apparent after just one month at the 2 installed clinics, 41 clinics would represent ~$3 million of recurring revenue (ie. 41×312 days x20 scans x $10).”

The same report sets a 1-year price target for MedX of C$0.45, with a buy rating.

Massive revenue growth potential for MedX

MedX’s goal is to roll out an initial 1,500 hardware devices (SIAscope) to an approved distributor in an approved location, say Brazil. MedX’s President, Dermatology Services, Mike Druhan stated: “At 1,500 installs in year 1 it represents C$8.4M in revenue for us”, up from C$860,000 in revenue in 2019. The C$8.4M would be C$3M in upfront one-off hardware revenue, and potentially C$5.4M in recurring revenue. Note for now the Brazil rollout is at 500 hardware devices, so the above figures are to show the potential and the business plan of MedX.

MedX has also recently begun a rollout in Ontario Canada at select Ontario Integrated Health Centres with partner Empower Clinics Inc. Steven McAuley, Chairman and CEO of Empower, stated:

“MedX is an ideal teledermatology partner, as their screening platform is second to none. We look forward to the results of this pilot and making this platform more widely available throughout our network.”

Closing comments

The best time for investors to consider a company is often just as they start to commercialize and bring in rapidly growing revenues. With MedX it looks like now is that time. The best companies are Software as a Service companies. Again another tick for MedX.

Finally, MedX has a competitive advantage due to their advanced technology that can view 2mm below the skin. This is backed up by a secure telemedicine platform and a track record of success.

The stock price has begun to climb, however, the market cap still looks reasonable at C$40M, especially if their Netherlands success continues as well as their other global rollouts. What a great time to know about MedX Health Corp.




Drolet Stock Notes on TAAT Lifestyle & Wellness: Tobacco-Free and Nicotine-Free Alternative to Traditional Cigarettes

Mario Drolet, President of MI3 Communications Financières Inc. (MI3), released his Drolet Stock Notes on TAAT Lifestyle & Wellness Ltd. (CSE: TAAT | OTCQB: TOBAF) on March 8, 2021, for exclusive distribution on InvestorIntel. Highlights include:

  • The company has developed TAAT, which is a tobacco-free and nicotine-free alternative to traditional cigarettes offered in original, smooth and menthol varieties.
  • Instead of tobacco, the base material of TAAT™ is a proprietary blend called Beyond Tobacco™, which is produced using a 14-step process to include a patent-pending refinement technique to create a taste and smell just like actual tobacco.
  • TAAT became publicly traded on the Canadian Securities Exchange (CSE: TAAT) on June 22, 2020.
  • Healthy pullback on TAAT …
  • Support: S2; $3.63   S1; $4.00   Resistance:   R1; $4.52    R2; $4.95

About TAAT ™ Lifestyle & Wellness Ltd.

The Company has developed TAAT™, which is a tobacco-free and nicotine-free alternative to traditional cigarettes offered in “Original”, “Smooth”, and “Menthol” varieties. TAAT™’s base material is Beyond Tobacco™, a proprietary blend which undergoes a patent-pending refinement technique causing its scent and taste to resemble tobacco. Under executive leadership with “Big Tobacco” pedigree, TAAT™ was launched first in the United States in Q4 2020 as the Company seeks to position itself in the $814 billion global tobacco industry.

PLEASE DO YOUR DUE DILIGENCE

Disclaimer: This Mario Drolet Stock Notes are produced by MI³ Communications Financières is neither an offer to sell, nor the solicitation of an offer to buy any of the securities discussed therein. The information contained is prepared by MI3, emanating from sources deemed to be reliable. MI3 Communications Financières makes no representations or warranties with respect to the accuracy, correctness or completeness of such information. MI³ Communications Financières accepts no liability whatsoever for any loss arising from the use of the information contained therein. Please take note that for compliance purposes, all directors, consultants or employees of MI3 Communications Financières are prohibited from trading the securities of the company and MI3 Communications Financières is a shareholder and do not intend to sell any shares during the distribution of this report.




Red Light Holland rides the wave of growth in the relatively new psychedelics industry

The psychedelics industry is just starting to grow now from a small base and looks quite likely to follow in the footsteps of the cannabis industry’s recent success story. Data Bridge Market Research forecasts that the global psychedelics market will grow from USD 2.077B in 2019 to USD 6.859B by 2027. Looking at these numbers that’s a 3.3 times increase in just 7 years. Growing acceptance of psychedelic drugs for treating depression and mental disorders are key factors for the forecast growth.

Psychedelics are the class of hallucinogenic drugs that may be used recreationally or for medical purposes. Their main benefits are in enhancing the sensory perception, elevating mood, and promoting spiritual experiences. Psychedelic drugs can be used in a medical setting to help depression, psychological treatments, palliative care and as an aid to help control the mind to be calm and peaceful.

Psychedelics are legal in the Netherlands, where there an estimated 100 Smart Shops operating, generating over US$100 million in sales annually. The price for 10 grams of truffles (the maximum amount for a beginner) is between 10 to 15 Euros in Amsterdam. Just recently Canada approved 17 healthcare professionals to possess and use the psychedelic active ingredient psilocybin to conduct professional training in psilocybin therapy. The focus is mainly for patients dealing with end-of-life distress, but marks the first step towards legal medicinal psychedelics use in Canada.

Red Light Holland Corp. (CSE: TRIP) is a leader in this market and is well advanced to benefit from the forecast very strong growth. They recently began selling their premium ‘magic truffles’ products (psychedelics) in the Netherlands. The Netherlands has a long-standing, established legal magic truffles market. Red Light Holland is currently setting up to further grow, distribute and market a premium brand of magic truffles to the legal recreational market within the Netherlands. They are also focusing on the medicinal side of the psychedelics industry as well as expanding their global sales to legal destinations.

Red Light Holland’s business plan is to produce and sell recreational and medical grade truffle products (psychedelics) in legal markets starting in the Netherlands

Source: Company website

Red Light Holland has recently raised over C$20M, providing the Company with over C$30M in the bank, this includes the latest C$11.6M bought deal financing. The funds intend to be used for working capital and general corporate purposes, essentially to grow the business. Red Light Holland has already grown and pre-sold their first batch of magic truffles from their production facility in Horst, Netherlands. They are now growing a further 1,000,000 grams of magic truffles. CEO Todd Shapiro stated: “Red Light Holland is ecstatic to announce that we have started to grow our second batch of magic truffles, expected to be 10X the original batch’s size.”

Global and product expansion potential for Red Light Holland

On February 25, 2021, Red Light Holland announced: “iMicrodose pack receives authorization for the first legal import and sale of psilocybin truffles to Brazil…..for prescribed medical patient use.” The iMicrodose pack contains 15g of psilocybin truffles made by Red Light Holland. This marks a significant milestone for Red Light Holland with their “first prescribed by a physician for medical use” of their truffles product, as well as an advancement in opening up the legal and medically approved market for psilocybin in Brazil.

On December 30, 2020, Red Light Holland announced they intend to make a groundbreaking investment in the St. Vincent and the Grenadines’ plant-based wellness and psychedelics industry, via a purchase of 100% of Mera Life Sciences LLC (‘Mera’). St. Vincent and the Grenadines are islands in the Caribbean Sea. Mera is developing a modern medicinal industry in St Vincent and the Grenadines with their issued psychedelic licenses. Todd Shapiro, CEO and Director of Red Light Holland, stated: “The acquisition of Mera and its coveted licenses would allow Red Light Holland to perform high quality psychedelic product research and development, cultivate, extract and process, and export, not just Psilocybin, but with compounds such as Ayahuasca, MDMA, DMT, Peyote, Ketamine and many other natural based plants as well…..”

On December 20, 2020, Red Light Holland announced it has entered into a non-binding letter of intent to acquire 51% of Psychedelic Insights in Amsterdam, the Netherlands. Psychedelic Insights currently provides psychedelic assistance to clients from all over the world, who are in need and want to try a safe and psychological guided experience. This includes psychedelic palliative care, re-connecting veterans and global mental health screening. A condition in the agreement includes an exclusive supply agreement with Red Light Holland’s truffles, grown from Red Light Holland’s facility in Horst, Netherlands.

Closing remarks

Red Light Holland continues to ride a wave of success with their magic truffles psychedelics. A 10x increase in their truffle production following the first batch being 100% pre-sold in advance, an overseas expansion potential via 100% acquisition with Mera, a potential 51% Psychedelic Insights acquisition (global client base), and finally, some initial success selling into Brazil. Added to all this it appears the medicinal use of psychedelics is making progress in Canada.

It certainly looks like Red Light Holland will continue to rapidly grow, especially after their successful capital raises and now C$30M in the bank. Red Light Holland’s market cap has dramatically increased as a result of all this good news and now sits at C$134M. Exciting times ahead, both for the Company and the industry.