ChroMedX Appoints Former Special Forces Officer Captain (Retd) Greg Falck to Advisory Board

 

May 16, 2017 – ChroMedX Corp. (the “Company”) (CSE: CHX, OTC: MNLIF, Frankfurt: EIY2), developer of the HemoPalm Handheld Blood Analyzer System, is pleased to announce the appointment of former Canadian Armed Forces officer, Capt (Retd) Greg Falck to the Company’s advisory board.

While in the military Capt Falck led the development of a multitude of diverse technologies while commanding a special forces maintenance organization, liaising directly with industry and managing in-house teams. Capt Falck also coordinated the maintenance, acquisition, and deployment of cutting edge military equipment to operational theatres at the operational and strategic level. 

“Greg’s experience in development, testing, and procurement in the military offers a unique insight into the modern defence industry and application of our technologies. Greg is a welcome addition to the advisory board and he will play a valuable role in our efforts to innovate and optimize the HemoPalm’s performance for active military field use.” said Ash Kaushal, President & CEO, ChroMedX Corp.

“The dispersed and asymmetric nature of modern military operations has continued to push the boundaries of the medical system. Soldiers are often operating far from advanced care medical facilities with limited access to rapid medical evacuation. The HemoPalm would provide forward medical personnel with the diagnostic data needed to provide life-saving trauma care. I look forward to supporting the progression of this technology and its adoption into the global market.” said Capt (Retd) Greg Falck

Greg Falck is a mechanical engineering graduate of Western University and spent nine years in the Canadian Armed Forces as an Electrical and Mechanical Engineering Officer. He spent most of his career within the Special Forces as a Platoon Commander and Logistics planner. Greg has travelled abroad extensively and worked with both American and Australian Special Forces units. Greg was awarded the Queen's Diamond Jubilee Medal in 2013.

The United States' military medical expenditures are approximately 50 billion USD/annum or 10% of the total US defence industry.

About ChroMedX Corp.

ChroMedX Corp. is a medical technology company focused on the development of novel medical devices for in vitro diagnostics and point-of-care testing.  The devices are protected by the Company’s issued and pending patents, dealing with blood collection, analysis and plasma/serum processing.

The HemoPalm Handheld Blood Analyzer System is the only handheld blood analysis technology which combines Blood Gases & Electrolytes with full CO-oximetry.  Currently this combination is not available on any of the handheld analyzers on the market. Existing technologies require users to purchase a second device to carry out the CO-oximetry. The Company’s technology has the advantage of being able to offer a single handheld blood analyzer that provides all the required tests for Blood Gases & Electrolytes, with full CO-oximetry and bilirubin. Another competitive advantage of the HemoPalm system will be its ability to draw capillary blood directly from a pin-prick site into the cartridge, providing an alternative to arterial blood. Drawing arterial blood is painful and can cause nerve damage. CO-oximetry is the measurement of five different hemoglobin species in blood.

The global market for Blood Gases & Electrolytes was estimated to be 1.5 Billion $US in 2015 and is projected to reach over 1.8 Billion by 2020.