MISSISSAUGA, Ontario--(BUSINESS WIRE)--Teledermatology company MedX Health Corp. (“MedX” or the “Company”) (TSXV: MDX) and London Medical Laboratory Ltd. ("LML") are pleased to announce a Memorandum of Understanding on a commercialization pilot and distribution agreement for MedX’s leading-edge DermSecure® Screening Platform in the United Kingdom (UK).
The pilot will span three to six months and will involve an estimated 1,000 patients in London, England. Upon the successful completion of the pilot, the MedX DermSecure® Screening Platform will be made available at a number of new centres across the UK and Ireland. This agreement is the latest in a series of commercialization pilots recently launched across Europe and the Middle East as part of MedX’s global commercialization strategy, building on pilots underway in the Netherlands, Italy, Turkey and United Arab Emirates. Additional commercialization pilots are anticipated in the coming months.
“At London Medical Laboratory, we were seeking a world-class, innovative teledermatology partner for our patients and we found such a partner in MedX – their image capture system is the best available on the market today,” said Seth Rankin, CEO, London Medical Laboratory Ltd. “We look forward to working with MedX to make this leading technology available to the UK patients who need it most.”
Sylvain Desjeans, MedX CEO said, “With melanoma skin cancer rates more than doubling in the UK since the 1990s, our partnership with London Medical Laboratory presents an enormous opportunity to improve patient outcomes. Agreements like this ensure we can maximize our growth potential and realize our purpose of saving lives.”
According to Cancer Research UK1, melanoma skin cancer incidence rates have increased by 140% since the 1990s and has almost tripled for males during this time. The incidence rate is projected to grow an additional 7% by 2035, with approximately 16,700 new cases diagnosed each year. Early and rapid detection of melanoma is key to improving patient outcomes.
Naman Demaghlatrous, MedX Managing Director of Europe, Middle East and Africa, added, “This pilot is a critical first step to establishing our presence in a market of more than 68 million people. Given the increasing incidence rate of melanoma in the UK, we will continue to seek additional opportunities to grow our presence throughout the UK and Ireland in the months to come.”
Teledermatology is a subspeciality of dermatology that offers safe and effective virtual care – patient screening and assessment – eliminating the need for in-person appointments with a dermatologist. MedX is a global leader in teledermatology through its high-definition image capture technology, SIAscopy®, and its secure, cloud-based patient management system, DermSecure®, which transmits and stores patient data throughout the assessment process. MedX’s SIAscopy® is the only technology in the world that captures five high-resolution images of suspicious moles, lesions and skin conditions, including four spectrophotometric images 2mm below the skin’s surface. This technology provides detailed patient scans for virtual dermatological assessment by a certified dermatologist within just 72 hours.
About MedX Health Corp.:
MedX, headquartered in Ontario, Canada, is a leading medical device and software company focused on skin health 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 cleared by Health Canada, the U.S. Food and Drug Administration, the Therapeutic Goods Administration and Conformité Européenne for use in Canada, the US, Australia, New Zealand, the European Union, Brazil and Turkey. Visit https://medxhealth.com.
About London Medical Laboratory Ltd.:
London Medical Laboratory is an independent clinical testing specialist and provider of pathology diagnostics services to clients across the healthcare sector. From our state-of-the-art laboratory near Battersea Park, our experienced team is able to offer tailor made clinical pathology diagnostic services to medical professionals, health care providers and patients across the capital and beyond. We offer pathology testing solutions across disciplines including clinical biochemistry, immunology, haematology, sexual health screening and molecular biology. Our facilities and experience ensure we can get your clinical test results back to you – fast and hassle free. Visit www.londonmedicallaboratory.co.uk.
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 release.
This Media Release may contain forward-looking statements, which reflect the Company’s current expectations regarding future events. The forward-looking statements involve risks and uncertainties.