Business
MedX Health Corp Reports Year End 2008 Financial Results
49% Gain In Last Half of 2008 Compared To Last Half of 2007 MISSISSAUGA, ON, April 30 /CNW/ - Med...
About this update from Medx Health Corp.
[{"type":"text","content":"\n\n\n\n49% Gain In Last Half of 2008 Compared To Last Half of 2007\n\n\nMISSISSAUGA, ON, April 30 /CNW/ - MedX Health Corp., (TSXV.MDX) a global\nleader in drug free, non-invasive low level laser and light therapy for tissue\nrepair and pain relief, today announced its results for the year ended\nDecember 31, 2008\n\n\nRevenue for the year ended December 31, 2008 was $1,149,478, an 8.9 per\ncent increase over 2007 year end revenue of $1,055,792. This revenue also\nrepresents a 49% gain in the last six months of 2008 versus the last six\nmonths of 2007. MedX incurred a loss from continuing operations for the year\nof $2,759,627 or $0.11 per share compared to a loss of $2,091,170 or $0.14 per\nshare for the same period in the prior year.\n\n\n"For the first time in many years, MedX continues to post strong\nincreases versus the previous period in 2007," said Steven Guillen, chief\nexecutive officer and president of MedX Health. "This is a direct result of\ntwo new strategic partnerships with Technology4Medicine and Richmar/Naimco,\nwhich are beginning to generate revenue. We are pleased with the revenue\ngrowth over the last six months of 49% versus the previous year, especially in\nlight of the difficult market conditions. We expect to continue this trend of\nrevenue growth in 2009."\n\n\nRecent Company Highlights:\n\n- Received CE mark for all products, which allows MedX to begin selling\n in 27 countries associated with the European Community (MedX Health\n Receives CE Mark for Laser and Light Products, March 4, 2009).\n\n- Launched IRB (Investigational Review Board) approved program for\n treating addictions; smoking, alcohol, and drug abuse. This\n incorporates the MedX acupuncture laser with expert training with the\n goal of expanding the scope of an individual practice to a full\n franchise opportunity (MedX Health Announces Initiation of Laser\n Acupuncture Study for Controlling Addiction, January 22, 2009).\n\n- Achieved ISO re-certification, demonstrating to outside regulatory\n bodies that the highest quality standards are in place (MedX Health\n Receives CE Mark for Laser and Light Products, March 4, 2009).\n\n- Announced a newly allowed wound healing patent covering a laser and\n light therapy apparatus and method for bone healing, bone growth\n stimulation, and bone cartilage regeneration (MedX ...