Has a revolution in early detection for deadly skin cancer begun?
Detecting deadly skin cancers such as malignant melanoma early is medical best practice these days. Doctors or clinics that rely on older technology or just using their eyes are putting their patients at risk. Modern day technology developed by this Canadian company is starting to gain global adoption – Initially with a focus and success in Brazil.
MedX Health Corp. (TSXV: MDX) is a leading medical device and software company focused on skin cancer with its DermSecure™ telemedicine platform, utilizing its SIAscopy technology.
SIAscopy is a non-invasive, practical, drug-free and cost-effective skin analysis and assessment system focused on early skin cancer detection. The DermSecure™ telemedicine platform complements the SIAscope device allowing doctors to instantaneously view results via a connected monitor or computer, even remotely.
MedX SIAscope and DermSecure™ telemedicine platform
Additionally, MedX designs, manufactures and distributes quality Photo-BioModulation (PBM) devices (lasers) often used for pain management and wound healing, especially in dentistry or where there is tissue damage (ulcers etc).
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MedX Health’s Photo-BioModulation (PBM) light therapy device helps pain and healing
Success in Brazil
MedX Health recently announced it has received an order for 500 SIAscopeTM units for deployment on its DermSecureTM telemedicine platform from its exclusive Brazilian distributor, representing the single largest order in the Company’s history.
Of course, this is just the tip of the iceberg in terms of the global potential for this revolutionary device. You see MedX’s SIAscope device can view up to 2 mm beneath suspicious moles and lesions. Combine this with the DermSecureTM telemedicine platform and you have a powerful combination able to detect skin cancers early.
- About 132,000 new cases of melanoma are diagnosed worldwide each year.
- In 2020, it is estimated that there will be 100,350 new cases of melanoma in the United States and 6,850 deaths from the disease.
- Over a 100,000 new cases of skin cancer were recorded in Brazil between 2016 and 2017 according to the Brazilian Cancer Institute, and almost 6,000 were classified as melanoma.
- The world’s highest incidence of melanoma is in Australia and New Zealand (more than twice as high as in North America).
If only the above 6,850 forecasts US deaths could be detected early. If clinics in the US and globally had the very best technology, such as MedX’s SIAscope, then many unnecessary deaths could be avoided.
Investors take away
MedX Health is just beginning to have significant sales success now in Brazil. Given the very significant global need for the best of breed devices, it would seem clear that high risk countries such as Australia and New Zealand follow Brazil’s lead with some big orders.
MedX uses a “Software as a Service” (SaaS) revenue model. This means that as sales are rolled out the SIAscopeTM units will start to generate recurring revenue streams for MedX.
Matthew Bohlsen is a Senior Editor for InvestorIntel.com. With a Graduate Diploma in Applied Finance and Investment, and a Graduate Diploma in Financial Planning. He ... <Read more about Matthew Bohlsen>