DGAP-News: MedX Limited: MEDX COMPLETES SALE TO U.S. MILITARY
(firmenpresse) - MedX Limited / Disposal
30.08.2010 10:00
Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
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MEDX COMPLETES SALE TO U.S. MILITARY
ALIGNING STRATEGY TO PENETRATE $1 BILLION U.S. MILITARY MARKET
ORLANDO, Fl - PR NEWSWIRE -- MedX Limited (Frankfurt: 8MX), the
manufacturer and global distributor of MedX(R)-branded medical exercise and
fitness equipment, today announced the completion of another sale to the
U.S. Military. The Company intends to secure contracts with the U.S.
Department of Defense to not only provide equipment, but also to provide
services which will prevent and/or rehabilitate chronic back and neck
problems for members of the U.S. Military.
According to a study published in November 9, 2009 Archives of Internal
Medicine, a significant number of military personnel were evacuated out of
Iraq and Afghanistan because of back pain. Researchers at John Hopkins
University School of Medicine found that only 13 percent of service members
who left their units with back pain as their primary diagnosis eventually
returned to duty in the field. Aside from combat injuries sustained during
battle, the return-to-duty rate for spinal pain and other musculoskeletal
disorders is lower than any other disease or non-combat injury category
except for psychiatric illness. Moreover, treating active duty and veteran
service members suffering from severe or chronic low back pain is estimated
to cost the nation approximately $1 billion each year.
Randy Lubinsky, MedX Chairman and CEO, stated, 'This is a sizable niche
market for MedX and one in which we are confident we can have profound
economic and quality of life impact. U.S. armed forces in Iraq and
Afghanistan are currently faced with carrying up to 120 pounds of backpack
gear and protective body armor, sleeping on cots, marching for miles on
foot, being cramped into transport vehicles for hours at a time, and/or
hoisting heavy ammo and other field supplies - all causes cited for serious
low back injuries. By adopting MedX Exercise Science-based training
protocols as a standard component of readying troops for deployment to the
Middle East, we are convinced that we can help to prevent or significantly
reduce the number of war fighters who may otherwise suffer avoidable neck
and back pain.'
MedX is widely recognized as the definitive gold standard for treating and
reducing chronic back pain and dysfunction through specific spinal
strengthening. Over the last 24 years, the Universities of Florida and
California at San Diego, along with various orthopedic clinics around the
world, have published more than 75 articles in peer-reviewed journals and
industry publications confirming MedX's ability to materially decrease
chronic spine-related pain issues, restore spinal function, improve quality
of life and independence, and decrease or eliminate the need for ongoing
spinal care or pain management - even after multiple failed attempts at
other forms of treatment. Since its market introduction in 1986, MedX
exercise and rehabilitation equipment has been sold to customers in all 50
states and around the world. The medical and exercise machines can be
found in hospitals, rehabilitation and wellness centers, colleges and
universities, professional sports teams' training facilities, on military
bases and within several state and federal government agencies.
Certain statements contained in this press release, which are not based on
historical facts, are forward-looking statements as the term is defined in
the Private Securities Litigation Reform Act of 1995, and are subject to
substantial uncertainties and risks in part detailed in the respective
Company's Securities and Exchange Commission filings, that may cause actual
results to materially differ from projections. Although the Company
believes that its expectations are reasonable assumptions within the bounds
of its knowledge of its businesses, expectations, representations and
operations, there can be no assurance that actual results will not differ
materially from their expectations. Important factors currently known to
management that could cause actual results to differ materially from those
in forward-looking statements include the Company's ability to execute
properly its business model, to raise additional capital to implement its
continuing business model, the ability to attract and retain personnel -
including highly qualified executives, management and operational
personnel, ability to negotiate favorable future debt facilities and
capital raises, and the inherent risk associated with a diversified
business to achieve and maintain positive cash flow and net profitability.
In light of these risks and uncertainties, there can be no assurance that
the forward-looking information contained in this press release will, in
fact, occur.
30.08.2010 10:00 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Datum: 30.08.2010 - 10:00 Uhr
Sprache: Deutsch
News-ID 32103
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