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MISSISSAUGA, ON--(Marketwired - August 23, 2017) - MedX Health Corp. ("MedX" or the "Company") (TSX VENTURE: MDX) announced its results for the three and six months ended June 30, 2017, which are also available on SEDAR (www.sedar.com).
The Company reported revenue of $236,892 for the three months ended June 30, 2017, a 13% increase over revenue of $209,496 for the three months ended June 30, 2016. Sales from the Company's therapeutic laser line remain strong while revenue from its SIAscopy products showed improvement over the first quarter. The Company reported a loss for the three months ended June 30, 2017 of $403,631, or $0.00 per share, compared with a loss of $310,869, or $0.00 per share for the 2016 three-month period.
For the six months ended June 30, 2017, the Company reported revenue of $476,702, 20% higher than revenue of $398,197 for the six months ended June 30, 2016. The Company reported a loss of $751,490, or $0.01 per share for the six months ended June 30, 2017 compared with a loss of $515,363, or $0.01 per share for the six months ended June 30, 2016.
"The quarter over quarter revenue growth in SIAscopy products that we have seen over the last several quarters is very encouraging, and a number of initiatives including our product development activities, should result in increased revenues going forward," noted Rob von der Porten, MedX CEO. "The continued strength in the sales from our therapeutic laser line has been very positive and underlies our long-term brand recognition in this market."
MedX, headquartered in Mississauga, Ontario, is a leading medical device company focused on skin cancer with its SIAscopy technology. This technology is 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. The devices are sold to physicians and clinics, as well as being deployed in pharmacies and remote clinics from where the images are sent to dermatologists who perform a diagnosis. These products are Health Canada, FDA (US), ARTG and CE approved for use in Canada, the US, Australia, the European Union and Turkey. SIAMETRICS™ is a unique product used in a specialized market for research into the clinical effectiveness of medical treatments of certain skin conditions. MedX also designs, manufactures and distributes quality laser and light therapy technologies for use in numerous medical settings, approved in major jurisdictions, to provide drug free and non-invasive treatment of tissue damage and pain. For more information and a complete profile of MedX and its products visit www.medxhealth.com.Rob von der PortenPresident & CEO905-670-4428 ext 226 Deborah Thompson416-918-9551NEXT ARTICLE
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