Expanded discussion at the Annual Shareholders' Meeting Scheduled for March 13, 2012, 4 p.m. in Toronto at The National Club
MISSISSAUGA, ON, March 5, 2012 /CNW/ - MedX Health Corp., (TSXV: MDX) a global leader in drug free, non-invasive low level laser light therapy and light imaging systems, announced today that the Annual Shareholders' Meeting will be held on March 13, 2012, at 4 p.m. at the National Club in Toronto, where the President and CEO, Steve Guillen will review how MoleMate has accelerated the transition into new markets, including on-line services.
At the upcoming meeting of shareholders, Mr. Guillen will expand and update upon the following regarding MoleMate:
- Transition to a technology platform company;
- On-line imaging services utilizing 'cloud' technology;
- Acceleration of new market entries: skin cancer, burns, wound care;
- Addition of Mole Mapping in 2012;
- Broad worldwide patent portfolio;
- Strong sales in Q4 2011, led by MoleMate; best quarter in over three (3) years;
- Immediate availability in Canada, the US, and other locations around the world.
"We are fundamentally changing from simply a medical device company to a technology platform company, with broad worldwide patents, and positioned to enter multiple hundred million dollar markets where knowing what is just under the skin is critical for the quality of care of the patient," says Steve Guillen, President and CEO, and "by offering a web based solution, via 'cloud' technology, we can lower the initial cost to physicians, as physicians pay monthly service fees, creating an on-going revenue stream for MedX from each device sold."
Skin Cancer Imaging - First Target
The combined markets in Europe, Canada, Australia, and the US is worth over $200 Million in net device sales (Zach's Equity Research), and the opportunity via 'cloud' technology for recurring revenue could be worth millions of dollars every year in this emerging market.
Burns Assessment Imaging, Diabetic Foot Ulcer Imaging - Second Target
The worldwide advanced wound care market (burns, diabetic foot ulcers and bed sores) is estimated at $5 Billion (Global Industry Analysts, Inc.) and the market potential using the MedX platform technology may be worth hundreds of millions of dollars.
About MoleMate Imaging and Skin Cancer
MoleMate recently received approval from Health Canada, and is immediately available and in stock for all Canadian physicians, joining their colleagues in Europe, the UK, Australia, and the US, who have been utilizing this new pain-free, non-invasive imaging system to 'See More', approximately 2mm below the surface of suspicious moles, and provide additional information and images related to every mole and all types of melanomas and non-melanomas.
MoleMate uses a patented device and technology that features a hand-held scanner designed for office use that utilizes light to view beneath suspicious moles or lesions in a pain free, non-invasive manner, creating images for physicians to evaluate all types of moles and lesions within seconds, providing images that can reveal if a mole is benign, or something more serious, often eliminating the need for skin biopsies, resulting in less pain, scarring, and expense. Physicians interested in learning more should contact MedX Health Corp. at www.simsys-molemate.com.
"Among the sophisticated equipment used by University of California Irvine Melanoma Center physicians is a SIMSYS-MoleMate SIAscope, one of the most advanced melanoma imaging systems in the world. For patients with many moles, this computer imaging can make a big difference, it decreases the number of biopsies needed, so they won't look like a pincushion."
- Dr. James G. Jakowatz, surgical oncologist and UC Irvine Melanoma Center director
- Dr. Janellen Smith, UC Irvine dermatologist and co-director of the Pigmented Lesion Program, UC Irvine
MoleMate and the more robust system, SIMSYS, are both sold with a specially designed training CD. SIMSYS allows image capture and storage as well as special features that can be used in visualizing and comparing moles. SIMSYS will include "mole mapping" software early in 2012. Mole Mapping is a technique that physicians use on certain patients with 50-100 or more moles where the entire surface of the patient's skin is photographed to observe changes over time and then suspicious moles can be monitored more closely or, if necessary, removed.
MoleMate is easy to incorporate into exams, and is easy for physicians to learn how to use via the 60-90 minute training CD, as documented in a study with general practitioners, who significantly improved their ability to more accurately identify suspicious moles and lesion.
The website www.simsys-molemate.com contains additional information on MoleMate and SIMSYS, including information on the technology behind these products, as well as product demos, and information on how other physicians have integrated the skin cancer imaging system into their practice.
MoleMate and SIMSYS will also be presented at the American Academy of Dermatology's 70th Annual Meeting, March 16-20, 2012, in San Diego, California, the world's largest, most comprehensive dermatologic educational event. "See More," with MoleMate and SIMSYS at booth #1361.
Skin Cancer - The Most Common Form of Cancer
The Canadian and US Cancer societies confirm that skin cancer is the most common form of cancer. Each year there are more new cases of skin cancer than the combined incidence of cancers of the breast, prostrate, lung and colon.
Nearly 800,000 Americans are living with a history of melanoma and 13 million Americans are living with a history of non-melanoma skin cancer, typically diagnosed as basal cell carcinoma (BCC) or squamous cell carcinoma (SCC). When melanoma is detected early, the survival rate is about 99% and falls to 15% as the disease advances.
Proctor & Gamble, LenioMed Ltd., and ScreenCancer, Inc., are research and commercial partners that are funding the expansion of the underlying technology, into new consumer and wound care markets.
About MedX Health Corp.
MedX is a twelve (12) year old Canadian company, headquartered in Mississauga, Ontario (Toronto), and is a global leader in the design, manufacturing and distribution of quality low level laser and light therapy technologies for use in numerous medical settings, including rehab/chiropractic, dental, wound care, and veterinary medicine, providing patients with drug free and non-invasive treatment of tissue damage and pain. MedX laser and light products are FDA approved, Health Canada cleared, and CE Mark approved for use in North America as well as the European Union. For a complete profile of MedX Health Corp. and its products visit www.medxhealth.com.
This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of applicable Canadian securities legislation. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
For further information:
President and Chief Executive Officer
MedX Health Corp. [email protected]
Phone: (905) 670-4428