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TAMPA, Fla., July 01, 2019 (GLOBE NEWSWIRE) -- Medovex Corp. (OTCQB: MDVX), today updated investors on its name change and rebranding to H-CYTE. The announcement underscores the Company's broader commitment focusing on delivering regenerative anti-inflammatory solutions to treat the unmet needs of patients, as well as bringing new health care solutions to patients domestically and internationally with a focus on improving quality of life, especially for those with chronic diseases.
In addition to the name and anticipated symbol change, the Company will launch a new corporate website and social channels to provide educational resources for patients. The name change and an accompanying ticker symbol remain subject to the approval of the Financial Industry Regulatory Authority (FINRA). Until that date, the Company’s stock will continue to trade under the existing “MDVX” ticker symbol.
H-CYTE CEO Bill Horne stated, “2019 has already been a critical year for our organization. Year to date, we have announced the successful asset purchase of Regenerative Medicine Solutions LLC, established a world-class management team with a documented track record of success, appointed numerous trusted industry veterans to our board of directors and secured financing to continue to execute our business plan.
Most recently, we entered into a long-term agreement with Rion that allows us to develop proprietary biologics where we intend to pursue submission of an investigational new drug (IND) application for review by the U.S. Food and Drug Administration (FDA) for treatment of COPD.”
Horne concluded, “Today’s announcement of the strategic rebranding to H-CYTE is another important step as our organization continues to evolve. As traditional health care limitations are continually overcome with medical breakthroughs, H-CYTE aims to make those solutions accessible to all patients, especially those who seek the latest in available treatments for chronic conditions that hinder their quality of life.”
About H-CYTE Corporation
H-CYTE was formed to build and develop a diversified portfolio of innovative medical technology products and services to improve quality of life for patients. The DenerveX® System is H-CYTE’s first product and is intended to provide long-lasting relief from pain associated with facet joint syndrome. For biomedical services, H-CYTE manages Lung Health Institute. Lung Health Institute is a leader in regenerative medicine that specializes in cellular therapies to treat chronic obstructive pulmonary disease (COPD) and other chronic lung diseases. In late 2019, H-CYTE’s biologics division, LungCYTE, plans to submit an IND to the FDA to study novel and proprietary biologics for treatment of COPD. For more information about H-CYTE, please visit www.Medovex.com.
Safe Harbor Statement
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend," or similar expressions or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation, those outlined in the Company's filings with the Securities and Exchange Commission (the "SEC"), not limited to Risk Factors relating to its business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events, or otherwise, except as required by law.