MedX Health Corp Reports First Quarter 2009 Financial Results



    MISSISSAUGA, ON, Aug. 20 /CNW/ - MedX Health Corp., (TSXV.MDX) a global
leader in drug free, non-invasive low level laser and light therapy for tissue
repair and pain relief, today announced its results for the quarter ended June
30, 2009.
    Revenue for the quarter ended June 30, 2009 was $106,624, a 58.9%
decrease over the same period in 2008 where revenue was $259,235. Revenue for
the 6 month period ending June 30, 2009 was $458,200, a 17.4% decline from the
6 month period in the prior year. Standard gross margins on sales were
consistent with previous quarters, but they were unfavorably impacted by high
unabsorbed overhead and labour variances due to extremely low production
volumes in the quarter. MedX incurred a loss from continuing operations for
the quarter of $538,971 or $0.02 per share compared to a loss of $823,190 or
$0.04 per share for the same period in the prior year. The loss for the 6
month period was $1,007,334 in 2009 compared to loss for the 6 month period
last year of $1,510,334.
    "MedX continues to establish a new base of business through its strategic
partners in North America and Internationally, however the second quarter was
a transition quarter as these partners began to launch their new operations
within their existing distributor networks," said Steven Guillen, chief
executive officer and president of MedX Health. "This quarter's results
reflect the temporary drop in sales as new distributors internationally
register products and order demo equipment, while our key partner in the North
American market, Rich-Mar, is busy preparing for the launch of our integrated
technology into their existing Therasound and Winner series of electrical
stimulation and ultrasound lines."

    
    Recent Company Highlights:

    -  Established European Distribution Center, with new Director of
       European Sales, Frank Raymakers, to oversee unit, located in The
       Netherlands. Following receipt of the CE Mark approval to market and
       sell the family of MedX laser and light products in all 25 European
       Union (EU) and the European Free Trade Association Member (EFTA)
       states, MedX can now better serve its growing EU and EFTA customers.
       April 22, 2009

    -  Announced Private Placement through a formation of MedX Health
       Financing Limited Partnership, for the purpose of raising $2,500,000.
       The company plans to use the proceeds to fund the manufacture and sale
       of light-related products through MedX Corp.'s newly created strategic
       partnerships and international sales channels. July 14, 2009.

    -------------------------------------------------------------------
    Canadian $                                   Q2 2009       Q2 2008
    -------------------------------------------------------------------
    Revenue                                      106,624       259,235
    -------------------------------------------------------------------
    Gross Margin %                                 27.2%         88.4%
    -------------------------------------------------------------------
    Loss from continued operations              (538,971)     (823,190)
    -------------------------------------------------------------------
    Income from discontinued operations                0         5,725
    -------------------------------------------------------------------
    Loss for the period                         (538,971)     (817,465)
    -------------------------------------------------------------------
    Weighted Average no. of shares
     outstanding - basic                      27,128,527    22,222,776
    -------------------------------------------------------------------
    Loss per Common Share - basic and diluted     ($0.02)       ($0.04)
    -------------------------------------------------------------------
    

    About MedX Health Corp.

    MedX is a leading North American developer and manufacturer of low level
laser and light medical devices for the drug free and non-invasive treatment
of tissue damage and pain in numerous medical settings including dental,
rehabilitation and wound care. MedX is the world's only company focusing on
developing and delivering a broad cross-section of technologies and products
involved in healing using light therapy. MedX is committed to advocating for,
the bringing of non-invasive, drug-free healing nature of light to people
seeking relief from pain and other physical ailments.
    MedX's strategy is to build upon its success in bringing relief of
symptoms in a non-pharmacologic manner in the rehabilitation market through
key partnerships, acquisitions, strong patent protection as well as developing
and commercializing advanced products in the dental and wound-care markets
that will position the company to increase revenue. In addition, MedX plans to
accelerate the development of a new product aimed at the rapidly-growing wound
care market: its "Photobandage(TM)", a bandage technology that allows a wound
to be bathed in light, designed to enhance the healing process. The Company
intends to license this new technology to one or more major wound care
companies for further development of marketing and sales.
    Brand products are US FDA approved, Health Canada cleared, and CE Marked
and are produced in an ISO 9001 and 13485 certified manufacturing and testing
facility. For a complete profile of MedX Health Corp. and its products visit
www.medXhealth.com

    
    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this press release.
    

    This press release contains "forward-looking information" within the
meaning of applicable Canadian securities legislation. Such forward-looking
information may include statements regarding the Company's future plans,
objectives, performance, growth, profits, operating expenses or its underlying
assumptions. Generally, forward-looking information can be identified by the
use of forward-looking terminology such as "plans", "expects", or "does not
expect", "is expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates", or "does not anticipate", or "believes" or
variations of such words and phrases or state that certain actions, events or
results "may", "could", "would", "might", or "will be taken", "occur", or "be
achieved". Forward-looking information is subject to known and unknown risks,
uncertainties and other factors that may cause the actual results, level of
activity, performance or achievements of MedX to be materially different from
those expressed or implied by such forward-looking information, including
uncertainty of successful development of new products, uncertainty of
successful manufacturing or marketing of products, uncertainty of commercial
acceptance of products, uncertainty concerning governmental regulation,
dependency on key employees and relationships, rapid technological changes,
foreign currency fluctuations. MedX does not undertake to update any
forward-looking information, except in accordance with applicable securities
laws.

    %SEDAR: 00017466E




For further information:

For further information: Investors: Steve Guillen, President and Chief
Executive Officer, MedX Health Corp., Phone: (905) 826-0766,
info@medxhealth.com; Media: Terri Clevenger, Continuum Health Communications,
Phone (203) 227-0209, Email: tclevenger@continuumhealthcom.com

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MedX Health Corp.

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