Commercialized a highly effective skin cancer scanning device

Initial orders from its Brazilian distribution partner could result in $8M of hardware sales over the next 2 years

Sponsored
MedX Health Corporation Profile

 

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MedX Health Corp.

 (TSX-V: MDX)

  • Commercialized a regulatory-approved highly effective skin cancer scanning telemedicine platform in 37 Countries
  • Provides images that can be uploaded on the company’s proprietary cloud-based tele-health platform and sent securely to local dermatologists for assessment
  • Patients can receive their  assessment and receive treatment within 72 hours after the initial screening
  • Immanent expansion into Mexico, Europe and USA
  • Initial orders from its Brazilian distribution partner that could result in $2 million of hardware sales over the next 2 years and a run-rate of $14 million of high margin, recurring platform revenue by the end of FY22
  • Dermatologists have declared these images the “next best thing to being there” in person
  • Platform has been proven through a proof-of-concept trial in Norway (109 Boots pharmacies captured 80,000 scans and found 800 cases of melanoma)
  • Began a rollout of the DermSecure telemedicine platform, across the Netherlands in partnership with  The Netherlands Institute for Prevention and Health
    • Two skin screening clinics opened in November 2020, with more than 800 assessments on close to 500 patients completed to in 2 months using MedX's DermSecure ® platform
    • IVPG plans to expand to 41 skin assessment clinics by 2022
    • The Netherlands has a very high rate of skin cancer and our platform is receiving a strong adoption rate.  

Does This Product Satisfy A Need?

  • Skin cancer accounts for one-third of all cancer cases and is one of the only forms of cancer that is increasing in prevalence
  • Early detection can result in a survival rate of 98%
  • If left undetected, skin cancer and melanoma in particular, metastasizes very quickly, dropping the survival rate down to 25%
  • Rigorous and regular screening regiment now more important than ever

What Is The Biggest Challenge To The Dermatology Industry?

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  • Canada has 537 Dermatologists serving 37 million people
  • Wait times to see a Dermatologist can be between 5 to 18 months in Canada under current referral method
  • A GP will see a melanoma once every 5-7 years, however the GP is not very skilled at identifying a melanoma and thus refers the patient to a Dermatologist immediately
  • 97% of the patients referred to Dermatologists for pigmented lesions do not need to be seen by a Dermatologist as their moles or lesions are benignMDX-1

Products

MedX’s SIAscope captures images ‘2mm’ below the skin’s surface

  • Only technology that can capture images below the skins surface
  • The SIAscope is placed directly on the suspicious mole allowing no ambient light to distort the image
  • The fixed focal point and controlled light wavelengths allow for a perfect Dermascopic image as well as 4 additional images
  • The SIAscope is the only scanner in the world that can achieve this

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DermSecure: A Fully Integrated Telemedicine Platform 

  • Chrome browser, cloud based, secure network platform hosted by AWS
  • MedX’s Patient Management System was designed by Dermatologists to capture all relevant patient information to provide a rapid  accurate assessment
  • DermSecureTM makes Teledermatology accurate, efficient and integrates into current Electronic Medical Record platforms and workflow seamlessly

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Skin Cancer is a Major Public Health Problem

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  • Skin cancer is the most common cancer in the world, more than 13 million cases are diagnosed annually
  • About 60,000 people die every year from skin cancer worldwide
  • Melanoma continues to rise at a faster rate than the 7 most common cancers, including prostate and breast cancer
  • Every hour of every day, one person dies of melanoma in the United States

 MedX Saves Lives While Potentially Saving Millions of Dollars In Healthcare Costs

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How Does The Company Make Money?

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Last changed at 24-May-2021 12:35PM by AGORACOM