MedX Health Corp, the medical device and software company focused on skin health, said it is well positioned for a “strong” 2022 with its new management team in place.
New CEO Sylvain Desjeans described 2021 as “a year of transition and focus” for the Mississauga, Ontario-based company.
“In a short period of time since new leadership took the helm in early 3Q, the MedX team has quickly effected changes and implemented a number of critical initiatives to ensure a strong corporate, operational, and financial foundation for our company and its future,” Desjeans said in a statement.
READ: MedX convenes medical advisory boards of leading dermatologists in Canada and US
The new CEO took up the role in August 2021. Joining him in October 2021 was a new CFO in Lesley Bourget.
MedX also announced its 3Q results that showed revenue of $94,146 for the three-months ended September 30, 2021, compared to $172,889 in the same year-ago period, as sales from the company’s SIAscopy/DermSecure products and for the therapeutic laser product line were respectively 54% and 39% lower than the revenue from 3Q 2020.
The firm’s net loss was comparable to the same year-ago period on a per-share basis at C$0.01. During 3Q 2021, MedX posted a net loss of C$1.55 million, compared to C$1.08 in 3Q 2020.
CEO Desjeans told investors that the company has attracted the necessary professional talent to grow the company and improved the technological capabilities of its MedX DermSecure platform with the addition of its HD Camera offering,
“We have expanded our footprint in existing and new targeted markets with a number of new commercial pilots now underway and we expect this growth to accelerate with greater adoption by the global dermatology community,” Desjeans added. “We are confident that we have positioned MedX for a strong 2022 and look forward to updating our investors with our progress in the months ahead.”
The company ended the quarter with C$701,836 in cash.
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