Appointment Announced during Annual General Meeting of Shareholders
MISSISSAUGA, ON, June 27 /CNW/ - MedX Health Corp. (TSXV: MDX) announced the promotion of Steven T. Guillen to president and chief executive officer of MedX Health. Guillen was named president and director in April, replacing Phil Passy, MedX's founder, who passed away earlier this year. The announcement was made during MedX's annual shareholders meeting held June 25th at The National Club in Toronto.
"In just a few short months, Steve has proven his leadership in driving MedX to the next level," said Gary Van Nest, MedX's Chairman. "His ability to rally the troops and bring a cohesive purpose to the company is evident. We applaud the new direction Steve is taking the company and look forward to strong growth in the next year."
Prior to joining MedX, Guillen was chief executive officer of OXIS International, Inc. (OTC BB:OXIS.OB), where he was recruited to lead, and turn around, an asset-rich publicly traded company with products in diagnostics, therapeutics, and nutraceuticals. He directed commercial strategy and grew revenues from $2 million to $6 million in his first year. He also directed an acquisition and the subsequent merger of the two organizations, including the relocation of operations and integration of manufacturing, finance, R&D, and sales & marketing into one site, thereby improving both revenues and profitability. Prior to that, Guillen was, for eight years, vice president of Sales & Marketing for Amarin Pharmaceuticals, based in Mill Valley, California, and Athena Diagnostics, based in Boston, Massachusetts. Prior to that, he had a number of different roles of increasing responsibility within Merck & Co, before he was recruited to establish the initial commercial organization for Athena Neurosciences, as their first director of Sales.
"The global vision for MedX as the worldwide leader in light technology is clear," said Mr. Guillen. "We plan to build upon our success in bringing relief of symptoms in a non-pharmacologic manner in the rehabilitation market through key partnerships, acquisitions, strong patent protection as well as developing and commercializing advanced products in the dental and wound-care markets that will position us to increase revenue in new markets."
About MedX Health Corp.
MedX is a leading North American developer and manufacturer of phototherapy medical devices, including dental, rehabilitation and wound care products. MedX is the world's only company focusing on developing and delivering a broad cross-section of technologies and products involved in healing using light therapy. MedX is committed to advocating for and bringing the non-invasive, drug-free healing nature of light to people seeking relief from pain and other physical ailments.
MedX plans to use the proceeds from its recent public offering to expand its distribution network; support its marketing program; continue development of new dental, rehabilitation and wound care products; undertake research and development for wound care products; and for working capital purposes. In particular, MedX plans to accelerate the development of a new product aimed at the rapidly-growing wound care market: its "Photobandage(TM)", a bandage technology that allows a wound to be bathed in light, designed to enhance the healing process. The Company intends to license this new technology to one or more major wound care companies for further development, marketing and sales.
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This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward-looking information may include statements regarding the Company's future plans, objectives, performance, growth, profits, operating expenses or its underlying assumptions. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of MedX to be materially different from those expressed or implied by such forward-looking information, including uncertainty of successful development of new products, uncertainty of successful manufacturing or marketing of products, uncertainty of commercial acceptance of products, uncertainty concerning governmental regulation, dependency on key employees and relationships, rapid technological changes, foreign currency fluctuations. MedX does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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