MedX Health’s SIAscopy device is set to help save lives by diagnosing skin cancer earlier
SIAscopy is a non invasive skin screening procedure for moles and lesions. For the first time, physicians can more accurately evaluate suspicious moles and lesions in a non-invasive, pain-free way. SIAscopy technology can see up to 2 mm beneath the skin at a low system cost. It raises a practice profile, easily incorporates into patient workflow and is easy to learn technology that operates on all computers. It is non-invasive, pain free and produces immediate reports.
The most common cancer in the world is skin cancer – 13 million cases are diagnosed every year, with 60,000 people dying annually from skin cancer. Melanoma continues to rise at a faster rate than the other 7 most common cancers, including prostate and breast cancer. Every hour of every day, one person dies of melanoma in the United States; and globally there were were nearly 300,000 new cases of melanoma in 2018. Having a prevention and early detection program, the majority of skin cancer deaths can be prevented.
MedX Health Corp. (TSXV: MDX) is a medical device company that has been operating since 1999. MedX develops, manufactures and distributes state-of-the-art phototherapy medical devices for pain relief, wound healing, and diagnosis. MedX’s SIAscopy technology targets early skin cancer diagnosis and prevention. The Company is also developing phototherapy devices for aesthetic and dental applications.
MedX’s mission is to develop and implement non-invasive, practical, drug-free and cost-effective skin analysis and assessment systems for use by trained medical professionals; as well as light therapeutics and imaging systems that can help to save lives and enhance patients’ quality of life and improve standards of care.
MedX’s SIAscopy device
The SIAscopy technology utilizes light and its remittance to view up to 2 mm beneath suspicious moles and lesions in a pain free, non-invasive manner. Then with its software it creates real-time images for physicians and dermatologists to evaluate all types of moles or lesions within seconds. These products are cleared for use in Canada as well as in the US, Australia, New Zealand, the European Union and Turkey.
In a recent interview with InvestorIntel Corp., CEO Tracy Weslosky asked MedX’s Vice President Corporate Development the following:
Tracy Weslosky: “For those of you out there in InvestorIntel, like me, have not heard about MedX until recently at the RAISE Conference in Quebec City, can you tell us why your stock is up 30% for the year and what your competitive advantage is please?”
Mike Druhan: “I think the stock is up because I think we have got a really good shareholder base. I think that they have been patient. They understand what we are doing and delivering. I also think we have been accurate with everything we have said we are going to deliver, and we have delivered. I think that they are starting to see signs recently, like we did in Netherlands with landing a fairly large-scale contract and I think that has excited the market. We are solving a major problem for dermatologists being able to read potential skin cancer lesions over the internet.”
With 13 million skin cancer cases diagnosed every year, MedX has a large addressable market for their diagnostic devices. Added to this is non invasive skin screening procedures to help screen the mass population. With these kind of statistics, MedX Health Corp. could one day become the go to company for skin cancer diagnosis, not only in North America, but globally. They are already on their way with recent contracts and MOUs in the Netherlands and Brazil.