MedX Reports Year End Financials and Record Fourth Quarter Sales
06 Mayo 2012 - 9:02PM
PR Newswire (Canada)
Skin Cancer Detection Product, MoleMate, Accounts for Over 60% of
Q4 Revenues MISSISSAUGA, ON, May 7, 2012 /CNW/ - MedX Health Corp.,
a global leader in drug free, non-invasive low level laser light
therapy and light imaging systems, today announced financial
results for the year ending December 31, 2011. Sales showed a
strong overall growth of 33%, with a large Q4 contribution from
MoleMate. Revenues for fiscal 2011 were $872,584,
representing a 33% increase over the revenues of $657,358 in fiscal
2010. Earnings losses were reduced to $868,089 or $0.03 per
share compared to a loss of $992,574 or $0.03 per share for fiscal
2010. In June 2011, MedX Health acquired the worldwide assets of
MoleMate and related products and sales of these products amounted
to $254,815 or 29% of fiscal 2011 sales. MoleMate is
available in the European Union, Canada, Australia, and the UK, and
was launched in Q4 2011 in the US. Q4 revenues for fiscal
2011, the largest revenue quarter in over 6 years, were 51% higher
than Q4 fiscal 2010, and MoleMate contributed over 60% of that
total. "In the last quarter of 2011 we began to see the potential
contribution that our breakthrough technology, MoleMate, can have
on the financial condition of MedX, and our efforts worldwide will
continue to be focused on expanding the commercialization of this
advancement in the early detection of skin cancer," said Steve
Guillen, President & CEO. 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 never seen before 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 and patients interested in learning more should contact
MedX Health Corp. at www.simsys-molemate.com. Recent competitive
product entries are more costly to acquire and use, and do not
offer the range of feedback on all moles that is possible with
MoleMate, including the ability to store and make side-by-side
comparisons of images to track changes, which are advantages of the
MoleMate system and will continue to differentiate the MedX
products in this new emerging market. Corporate Partners 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. MedX Health acquired the worldwide assets of
MoleMate, for early detection of skin cancer, in June, 2011.
For a complete profile of MoleMate and the core technologies visit
www.simsys-molemate.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. MedX Health Corp.
CONTACT: Contacts:Investors:Steve GuillenPresident and Chief
Executive OfficerMedX Health Corp. investor@medxhealth.comPhone:
(905) 670-4428
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