MISSISSAUGA, ON--(BUSINESS WIRE)--MedX Health Corp. (“MedX”) (TSX-V: MDX) announces that it has received an order for 500 SIAScopeTM units for deployment on its DermSecureTM telemedicine platform from its exclusive Brazilian distributor, representing the single largest order in the Company’s history.
“This order reflects the impact our SIAScopyTM on DermSecureTM platform can have in redefining patient care and shows that MedX’s rapid skin assessment technology is scalable and is receiving strong demand in the Brazilian market,” commented Scott Spearn, CEO of MedX. “MedX will benefit from a “Software as a Service” revenue model with the initial sale of the SIAScopeTM units and then generating recurring revenue as the devices are deployed by mid-2020 on the DermSecure TM platform and patients are scanned in Brazil.”
"There is a significant opportunity for MedX’s rapid skin assessment technology in Brazil, as skin cancer is the most common type of cancer in Brazil,” stated Fabio Camata Candello, CEO of MedX Brasil. “Over a hundred thousand new cases of skin cancer were recorded in Brazil between 2016 and 2017 according to the Brazilian Cancer Institute, and almost 6,000 were classified as melanoma, an aggressive form of the disease that can spread to other parts of the body. A recent study shows that Brazilian melanoma patients experienced a lower survival rate than the current worldwide average. The high prevalence of advanced cases reinforces the importance of local strategies to diagnose melanomas in the early stages, and to treat it definitively. “MedX’s SIAScopyTM on DermSecureTM telemedicine platform and advanced SIAscopy TM imaging technology is a perfect solution for early detection," further noted Mr. Candello.
“MedX Brasil has been premarketing MedX’s technology at trade shows in Brazil and through our channel partner One Way Diagnostica. These efforts have shown strong demand for SIAScopyTM on DermSecureTM and we are starting to build inventory to be able to deploy the units as soon as possible once regulatory approval is granted. We have been working closely with ANVISA, the Brazilian regulatory authority, and expect regulatory approval shortly,” stated Mr. Candello.
MedX, headquartered in Mississauga, Ontario, is a leading medical device and software company focused on skin cancer with its SIAScopy™ on DermSecure™ telemedicine platform, utilizing its SIAscopy technology. SIAscopy is also 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. These products are Health Canada, FDA (US), ARTG and CE cleared for use in Canada, the US, Australia, New Zealand, the European Union and Turkey. MedX also designs, manufactures and distributes quality photobiomodulation therapeutic and dental lasers to provide drug-free and non-invasive treatment of tissue damage and pain. www.medxhealth.com.
About MedX Brasil
MedX Brasil is an independent licensee incorporated in Brazil, formed during 2019 to become the exclusive distributor of MedX Canada’s SIAscopy TM on DermSecure TM platform in Brazil. MedX Brasil has established a partnership with Oneway Diagnostics a specialist sales team in the Dermatology market in Brazil. MedX Brasil is responsible for marketing, educating, trade shows, financing activities to support the sales team at Oneway Diagnostics. https://www.medxbrasil.com.br/
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