MedX Health, Vitamed Biomedical, and Medispa Partner to Expand Teledermatology Services Across Italy
MISSISSAUGA, Ontario — MedX Health Corp. ('MedX' or the 'Company') (TSXV: MDX), a global leader in teledermatology, is pleased to announce a strategic collaboration in the Italian healthcare market between Vitamed Biomedical, a MedX commercial partner in Italy, and Medispa, a leading Italian healthcare company delivering innovative digital solutions for prevention, wellness, and healthcare.
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This new partnership will facilitate the deployment of MedX's proprietary SIAscope on DermSecure® platform across Medispa's extensive network of pharmacies, medical centers, and wellness facilities, increasing patient access to advanced skin screening and preventive care.
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'We are pleased to support our partners Vitamed Biomedical and Medispa in bringing our SIAscope on DermSecure® system to a broader patient base in Italy,' said Mike Druhan, President of Dermatological Services at MedX Health Corp. 'This collaboration is an important milestone in our international expansion strategy and underscores our commitment to enabling early detection of melanoma by a dermatologist through accessible, non-invasive teledermatology.'
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The SIAscope on DermSecure® system enables rapid, non-invasive imaging of suspicious skin lesions, which are securely transmitted for dermatologist review often within 72 hours dramatically accelerating diagnosis while reducing unnecessary referrals and wait times. The solution has been cleared for clinical use across multiple jurisdictions, including the EU, Canada, the U.S., Australia, and the UK.
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'This collaboration with Medispa strengthens our mission to expand the reach of teledermatology in Italy,' said Giuseppe Verderame, CEO of Vitamed Biomedical. 'By integrating MedX's platform into high-traffic and trusted community hubs like pharmacies and wellness centers, we are improving accessibility and empowering individuals with better tools for early skin cancer detection.'
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Andrea Prina, CEO of Medispa, added: 'This partnership perfectly aligns with Medispa's vision of innovating healthcare delivery through digital technology. By offering MedX's solution through our network, we're providing citizens with fast, reliable access to dermatological screening and reinforcing our commitment to prevention-first health services.'
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Italy represents a key European growth market for MedX Health, where demand for accessible, specialist-level dermatological screening continues to grow particularly in light of increased awareness of skin cancer risks associated with aging populations and sun exposure.
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About Vitamed Biomedical
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Vitamed Biomedical is a provider of advanced medical technologies and a commercial partner of MedX in Italy. The company focuses on distributing innovative healthcare solutions that support early diagnosis and patient-centered care across Italy's public and private healthcare sectors.
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About Medispa
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Medispa is an Italian company specializing in digital innovation for prevention and wellness services. With a strong presence in pharmacies, medical clinics, and wellness centers, Medispa is dedicated to delivering integrated, forward-thinking health services for the modern consumer.
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About MedX Health Corp.
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MedX Health Corp., headquartered in Ontario, Canada, is a leading developer of non-invasive skin analysis and teledermatology solutions. Its SIAscopy® technology, integrated into the DermSecure® platform, enables pain-free imaging of skin lesions for rapid remote dermatologist assessment. MedX products are cleared for use in Canada, the United States, Europe, Australia, and several other markets. Visit: www.medxhealth.com
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All statements contained or implied other than statements of historical facts, including, without limitation, statements regarding our business plans, market opportunities, capital expenditure requirements, financing needs and projected financial performance, are forward-looking statements. In some cases, these forward-looking statements can be identified by words or phrases such as 'may,' 'will,' 'expect,' 'anticipate,' 'aim,' 'estimate,' 'intend,' 'plan,' 'believe,' 'potential,' 'continue,' 'is/are likely to' or other similar expressions. In addition, these forward-looking statements reflect our current views with respect to future events and are not guarantees of future performance. 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Further information about these and other risks is included in the 'Risk Factors' and 'Operating and Financial Review and Prospects' sections of our Annual Report on Form 20-F for the year ended December 31, 2024, filed with the U.S. Securities and Exchange Commission ('SEC') on April 30, 2025, available on our investor relations website at and on the SEC website at All information in this document is as of the date hereof, and the Company undertakes no obligation to update any forward-looking statements, except as required by law. Statements that 'we believe' and similar expressions reflect our beliefs and opinions, based upon information available as of the date of this presentation. Such statements are inherently uncertain, and investors are cautioned not to place undue reliance on them. Disclaimer Links to third-party websites are provided for informational purposes only; Nebius is not responsible for the content contained on or accessible through the linked sites. USE OF NON-GAAP FINANCIAL MEASURES To supplement the financial information prepared and presented in accordance with U.S. GAAP, we present the following non-GAAP financial measures: Adjusted EBITDA/(loss) and Adjusted net income/(loss). The presentation of these financial measures is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with U.S. GAAP. For more information on these non-GAAP financial measures, please see the tables captioned 'Reconciliations of non-GAAP financial measures to the nearest comparable U.S. GAAP measures', included following the accompanying financial tables. We define the various non-GAAP financial measures we use as follows: Adjusted EBITDA/(loss) means U.S. GAAP net income/(loss) from continuing operations plus (1) depreciation and amortization, (2) certain SBC expense, (3) interest expense, (4) income tax expense/(benefit), (5) one-off restructuring and other expenses, less (1) interest income, (2) other income/(loss), net, (3) income/(loss) from equity method investments and (4) gain from revaluation of investment in equity securities. Adjusted net income/(loss) means U.S. GAAP net income/(loss) from continuing operations plus (1) certain SBC expense, (2) one-off restructuring and other expenses, (3) amortization of debt discount and issuance costs less (1) foreign exchange gains and (2) gain from revaluation of investment in equity securities. Tax effects related to the listed adjustments are excluded from adjusted net income. 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The Toloka's results for prior periods were reclassified to discontinued operations. Certain SBC expense SBC (Stock-Based Compensation) is a significant expense item and an important part of our compensation and incentive programs. As it is highly dependent on our share price at the time of equity award grants, we believe that it is useful for investors and analysts to see certain financial measures excluding the impact of these charges in order to obtain a clearer picture of our operating performance. However, because we settled some RSU equity awards of our employees granted before 2022 in cash during 2024, a portion of stock-based compensation expense for 2024 was included in Adjusted EBITDA/(loss). Foreign exchange gains/(losses) The functional currency of Nebius Group N.V. is the United States Dollar, which is also the Group's current reporting currency. Foreign exchange gain/(loss) dynamics reflect changes in the U.S. dollar value of monetary assets and liabilities that are denominated in other currencies, as well as changes in the functional currencies of foreign subsidiaries' monetary assets and liabilities that are denominated in currencies different from their respective local currencies. Because foreign exchange fluctuations are outside of our operational control, we believe that it is useful to present Adjusted EBITDA/(loss), adjusted net income/(loss) and related margin measures excluding these effects, in order to provide greater clarity regarding our operating performance. One-off restructuring and other expenses We believe that it is useful to present Adjusted net income/(loss), Adjusted EBITDA/(loss) and related margin measures excluding impacts not related to our operating activities. Adjusted net income/(loss) and Adjusted EBITDA/(loss) exclude certain expenses related to the restructuring and other similar one-off expenses. Amortization of debt discount and issuance costs We also adjust net income/(loss) for interest expense representing amortization of the debt discount and issuance costs related to our convertible senior notes due 2029 and 2031 issued in Q2 2025. Debt discount represents the accretion of the nominal amount of notes payable at maturity, unless the relevant notes have been earlier repurchased, redeemed or converted in accordance with their terms. We adjust net income/(loss) for the interest expense recognized from amortization of the debt discount and issuance costs due to the significantly different timing of payment in relation to the operating results. The tables at the end of this release provide detailed reconciliations of each non-GAAP financial measure we use from the most directly comparable U.S. GAAP financial measure. 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