MISSISSAUGA, Ontario--(BUSINESS WIRE)--MedX Health Corp. (“MedX” or the “Company”) (MDX - TSXV) and Vitamed Biomedical s.r.l. ("Vitamed") are pleased to announce a Memorandum of Understanding between the companies to pilot MedX’s leading-edge DermSecure® Screening Platform at select pharmacies and general practitioner (GP) clinics in Italy this October.
Europe continues to be a strong focus of MedX’s global commercialization strategy, following the ongoing success of its pilot program in the Netherlands. The MedX and Vitamed pilot program in Italy is expected to be in-market for 60 days from October to November 2021. Pending its successful completion, the MedX DermSecure® Screening Platform will become more widely available at pharmacies, GP clinics and insurance companies across Italy, as the next step in the commercialization strategy in this market. MedX will continue to build on this momentum with additional pilots anticipated later this year.
“I’m really excited to start this partnership program with MedX in Italy,” said Giuseppe Verderame, Founder and CEO of Vitamed. “We are very confident that teledermatology will be able to offer great opportunities to support Dermatologists, Physicians and the Healthcare System for the benefit of patient wellbeing.”
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. Unlike other teledermatology screening tools available, MedX’s DermSecure® Screening Platform features high-resolution image capture technology for moles, lesions and other skin conditions, providing a complete, virtual dermatological assessment by a certified dermatologist within just 72 hours.
MedX’s leading telemedicine platform allows health-care practitioners to quickly and accurately assess suspicious moles, lesions and other skin conditions via its 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 that captures five images, including four spectrophotometric images 2mm below the skin’s surface.
“Thanks to the virtual nature of our teledermatology platform and the precision of our SIAscopy® technology, our product offering is uniquely positioned to fulfill the global need for accessible, efficient healthcare services – particularly amid the ongoing COVID-19 pandemic,” said Sylvain Desjeans, recently appointed MedX CEO. “This is a time of rapid growth for MedX, with two pilots now being offered in Europe and additional pilot opportunities on the horizon. Working closely with Vitamed will allow us to make a measurable difference in the European market – improving patient outcomes and potentially saving lives around the world.”
Naman Demaghlatrous, MedX Managing Director of Europe, Middle East and Africa, added, “This pilot represents another significant step forward in establishing MedX’s European presence. With Vitamed’s distribution network including pharmacies, private clinics and insurance companies across Italy, they’re an ideal partner to expand our reach, and we are continuing to seek other similar partnership opportunities across Europe and beyond.”
According to the World Cancer Research Fund, Italy has the 19th highest rate of skin cancer in the world. The World Health Organization’s International Agency for Research on Cancer estimated that 12,515 Italians were diagnosed with melanoma skin cancer in 2020, with approximately 2,224 Italians dying of the disease1. Early and rapid detection of melanoma is key to improving patient outcomes.
About MedX:
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 Vitamed Biomedical s.r.l.:
Vitamed Biomedical s.r.l. was created in June 2015 from the twenty-year experience of its founder in the field of chronic pain. Vitamed’s mission is focused on being innovators oriented to people’s health in the landscape of biomedical technologies, making them more accessible and functional to those who need them. Vitamed believes in the need to implement innovative forms of disease management, which can bring benefits to all those involved according to innovative models and through the use of the latest technologies, in full compliance with scientific evidence and enhancing the value of the various professionals. Visit http://www.vitamed-biomedical.it.
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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.
1 Source: https://gco.iarc.fr/today/data/factsheets/populations/380-italy-fact-sheets.pdf
