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MedX Health Corp. appoints Steve Guillen as new President and Director(Canada Newswire English Via Thomson Dialog NewsEdge) Attention Business Editors Seasoned medical technology executive to lead Company into next stage of growth MISSISSAUGA, ON, April 4 /CNW/ - MedX Health Corp. (TSXV: MDX) ("MedX" or the "Company") is pleased to announce the appointment of Mr. Steven T. Guillen as President and Director of MedX, replacing Phil Passy, MedX's founder, who passed away recently, shortly after MedX completed a $4.0 million public offering. "On behalf of the Board, I would like to welcome Steve Guillen to MedX," said Gary Van Nest, MedX's Chairman. "Steve is a leader of the highest caliber, with extensive experience and a proven track record in the health care industry. Of particular note is the fact that Steve has experience in the areas of sales & marketing and mergers & acquisitions, both of which are areas we feel will be important to MedX's future success. Beyond that, Steve's proven ability to lead a company through change, to develop strategies to re-invigorate growth, to effectively execute those strategies and to communicate all of this to the public equity capital markets, all make Steve a uniquely qualified candidate for the position." Most recently, Mr. Guillen was, for two years, 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 $2M to $6M 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, Mr. 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. "I couldn't be more excited about joining MedX," said Mr. Guillen. "The market for its existing line of phototherapy products has barely been scratched, its new line of dental products has the potential to generate significant levels of sales, and its wound-care technologies offer the prospect of strong partnerships delivering recurring revenues. With the right sales & marketing and product development strategies, there is no reason why the Company should not do very well. The 'healing nature of light' is an idea whose time appears to have come, and I am thrilled to be selected as President of an established market leader such as MedX." Mr. Guillen has been awarded options to purchase 500,000 Common Shares of the Company at a price of thirty cents per share under the terms of the corporate option program. Forty percent or options for 200,000 shares will vest immediately, twenty percent will vest at the end of his first three months, twenty percent will vest on the achievement by the Company of a specified gross sales target and the final twenty percent will vest when the company achieves a positive EBITDA for three consecutive months. 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 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", 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. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release. 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. Gary Van Nest, Chairman, MedX Health Corp., Phone: (905) 826-0766 ext 224, Email: [email protected]; Nelson Smith, Taddle Creek Capital, Phone: (416) 565-7518, Email: [email protected] Copyright ? 2008 Canada Newswire Ltd. All Rights Reserved. |