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Mike Druhan of MedX Health on the Launch of Its Teledermatology Screening Platform in the UK

In a recent InvestorIntel interview, Tracy Weslosky spoke with Mike Druhan, President of Dermatology Services at MedX Health Corp. (TSXV: MDX) about MedX Health’s recent commercialization pilot project with the UK’s largest non-hospital private healthcare services provider to launch its Teledermatology Screening Platform in the UK.

In this InvestorIntel interview, which may also be viewed on YouTube (click here to subscribe to the InvestorIntel Channel), Mike Druhan explained how the partnership with Health Partners (OH) Limited will provide MedX access to two million-plus patients across the UK and also will open the door for MedX Health to expand into other markets. With more than 3,000 cases of skin cancer annually in the construction industry in the UK alone, Mike went on to highlight how early detection of skin cancers can have a dramatic effect in saving people’s lives and play a critical role in the fight against skin cancer.

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.




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.




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.




MI3 Market Alert: Many positive developments for the SaaS-based telehealth company

Mario Drolet President of MI3 Communications Financières Inc. (MI3) released a technical note at market open today on MedX Health Corp. (TSXV: MDX) for exclusive distribution on InvestorIntel. In this note, MI3 highlighted the following points on MedX Health Corp.

  • MedX Health Corp is a SaaS-based telehealth company
  • Recently received the MDSAP certification (medical device simple audit program)
  • MedX has received regulatory approval in Brazil
  • MDX get Analyst coverage and BUY rating with a target at $0.45
  • MDX traded more than 13.0 Million shares over the last three months between $0.06 & $0.15
  • Support: S2; $0.085   S1; $0.115      Resistance:   R1; $0.13   R2; $0.15

About MedX

MedX, headquartered in Mississauga, Ontario, is a leading medical device and software company focused on skin assessment in identifying suspicious moles and lesions by utilizing 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. SIMSYS™, and MoleMate™ includes a 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 Health Canada, FDA, TGA and CE cleared for use in Canada, the US, Australia, New Zealand, the European Union and Turkey. MedX also designs, manufactures and distributes photobiomodulation therapeutic lasers to provide drug-free and non-invasive treatment of tissue damage and pain.

PLEASE DO YOUR DUE DILIGENCE

Disclaimer: This MI3 Technical Note 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 note.




Mike Druhan on bringing MedX’s skin cancer detection technology to Brazil

In an InvestorIntel interview during PDAC last week, Tracy Weslosky secures an interview update with Vice President of Corporate Development Mike Druhan on MedX Health Corp. (TSXV: MDX), a leading medical device and software company focused on skin cancer with its DermSecure™ telemedicine platform, utilizing its SIAscopy technology.

Mike started by saying that MedX Health has received notification that its technology has been certified in Brazil. The company is working with ANVISA (the Brazilian regulatory authority) and expects regulatory approval shortly. Mike continued, “We did a deal on January 16th in Brazil where they bought 500 scopes which represent about $1 million of hardware sales and about $2 million of recurring revenue every year.”

Speaking on skin cancer Mike said, “Skin cancer is one of the most prevalent cancers and it is one of the only cancers that is continuing to grow. We know if we catch it early it has a really good outcome. Stage 1 melanoma has about a 97% survival rate. Move that on to stage 4 melanoma and that is going to cost the healthcare system about a $150,000 a patient a year and the outcome is about 20% survival rate after 5 years. So the key is, it is on your skin, get scanned early.”

To access the complete interview, click here

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




Druhan on MedX Health’s skin cancer technology deployment deal (SIAScope) with exclusive Brazilian distributor

“Our system is a proper SaaS model. We have an optical scanner (SIAScopeTM) that will take an image of a mole or a lesion that is suspicious. Our differentiator is that it goes 2mm below the skin, therefore, it takes perfect view not only on the surface but below the skin as well. We have a telemedicine platform that will send a patient’s health information along with the image to a dermatologist for a proper assessment.” States Mike Druhan, Vice President of Corporate Development at MedX Health Corp. (TSXV: MDX), in an interview with InvestorIntel’s Peter Clausi.

Mike went on to provide an update on MedX Health’s recent purchase order for 500 SIAScopeTM units for deployment on its DermSecureTM telemedicine platform from its exclusive Brazilian distributor. He said that the order is the single largest order in the company’s history. He continued by saying that the initial hardware order is close to a million dollar and after the devices have been deployed the company will get anywhere between $1.6 to $2 million a year as recurring revenue.

To access the complete interview, click here

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




Scott Spearn on MedX’s skin cancer screening in Brazil and Spain

“It is an incredible project for MedX and we are fortunate enough to be in a position we are with Brazil. It is a population of about 210 million people and they are facing a major skin cancer problem. Meaning that it is not being detected until the late stages. i.e. states 3 and 4. Our device will help the people of Brazil detect it at its early onset…We have an exclusive distribution partner in Brazil. We have 45 salespeople trained in the use of our SIAscope on DermSecureTM. We are looking at significant revenues over the next two or three quarters.” States Scott Spearn, President and CEO of MedX Health Corp. (TSXV: MDX), in an interview with InvestorIntel’s Tracy Weslosky.

Scott went on to provide an update on MedX’s operations in Spain. He said that the company is working with a large group and a number of national organizations in Spain. They have done 1368 patients counsels which involved 2475 scans which identified 9 melanomas. Scott also said that mobile apps are not effective in detecting skin cancers. MedX’s SIAscope takes five images and reaches two millimeters below the skin and then uploads to the DermSecureTM  software platform so that the images can be transmitted to a dermatologist for quick and early diagnosis. No other product does that.

To access the complete interview, click here

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




Druhan on MedX’s skin cancer diagnosis technology getting closer to being launched in Brazil

“MedX solves a really unique problem and that is access to a dermatologist. In Canada, there are 565 dermatologists serving 37 million people. Wait times are up to 16 months in some cases. We can get that done in 72 hours. It is going to be as simple as going to your doctor if you have a suspicious mole or lesion, being referred to a pharmacy, from the pharmacy you take an image. Our (skin cancer detection) technology is the only technology in the world that can look below the skin surface and give a dermatologist a perfect view of what they are looking at. It goes from the pharmacy to a dermatologist who does the assessment.” States Mike Druhan, Vice President of Corporate Development at MedX Health Corp. (TSXV: MDX), in an interview with InvestorIntel’s Tracy Weslosky.

Mike went on to provide an update on the launch of DermSecureTM in Brazil. He said that MedX is close to getting final regulatory approval in Brazil which will give the company access to a 212 million population base that currently gets detected for melanoma in the later stages. Mike also explained why a phone cannot be used to scan and diagnose skin cancer. He added that MedX works directly and collaboratively with the healthcare system. Privacy of information, images, follow ons and aftercare are handled withing the DermSecureTM network.

To access the complete interview, click here

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