MedX(R) Health Corp. Reports Second Quarter 2008 Financial Results



    MISSISSAUGA, ON, Aug. 22 /CNW/ - MedX Health Corp., a leading North
American developer and manufacturer of low level laser medical devices,
including dental, rehabilitation and wound care products today announced its
results for the three months ended June 30, 2008.
    Revenue for the three months ended June 30, 2008 was $259,235 compared to
$344,885 for the three months ended June 30, 2007 a 25% decrease versus the
same period last year.
    MedX incurred a net loss of $817,465 in Q2 2008 compared to a net loss of
$495,952 for the same period in the prior year.
    "Moving forward, we remain on track in our commitment to expand our
products and services internationally via new distribution channels, novel
product technology, strategic partnerships and strong IP programs. Our recent
accomplishments are testaments to this strategic shift," said Steven Guillen,
chief executive officer and president of MedX Health.

    
    Recent Company Achievements:
    -   Filed Provisional Patent Application with the U.S. Patent Office for
        Photobandage(TM) (May 20, 2008)
    -   Low-level laser wound healing study was published in the
        International Wound Journal and presented at the World Union of Wound
        Healing Societies Congress in June in Toronto (June 5, 2008)
    -   Announced promotion of Steve Guillen to Chief Executive Officer and
        President (June 27, 2008)
    -   Announced strategic partnership with Technology4Medicie to become
        Medx Health's exclusive U.S. dental distributor for Oralase(TM)
        (July 15, 2008)
    -   Closed non-brokered private placement of 4,300,000 common shares for
        CAD$1,075,000 (August 5, 2008)

    -------------------------------------------------------------------------
    Canadian $                                          Q2 2008      Q2 2007
    -------------------------------------------------------------------------
    Revenue                                             259,235      344,885
    -------------------------------------------------------------------------
    Gross Margin %                                           88%          75%
    -------------------------------------------------------------------------
    Income (Loss) from continued operations            (823,190)    (496,070)
    -------------------------------------------------------------------------
    Income (Loss) from discontinued operations            5,725          118
    -------------------------------------------------------------------------
    Net Income (Loss) for period                       (817,465)    (495,952)
    -------------------------------------------------------------------------
    Weighted Average no. of shares outstanding-basic
     and diluted                                     22,222,776   15,043,937
    -------------------------------------------------------------------------
    Loss per Common Share-basic and diluted              ($0.04)      ($0.03)
    -------------------------------------------------------------------------
    

    About MedX Health Corp.

    MedX is a leading North American developer and manufacturer of low level
laser medical devices, including dental, rehabilitation and wound care
products. 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 and bringing
the 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", 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.

    
    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: Steve Guillen, President & CEO, Phone: (905)
826-0766, Email: guillen@medxhealth.com; Nelson Smith, Taddle Creek Capital,
Phone: (416) 565-7518, Email: smith@medxhealth.com

Organization Profile

MedX Health Corp.

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