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Parallax Health Sciences Names Dr. David Stark President of Parallax Diagnostics

SANTA MONICA, CA / ACCESSWIRE / October 12, 2018 / Parallax Health Sciences, Inc. (OTC PINK: PRLX) (''Parallax''), a technology-driven connected healthcare company, announces the appointment of David Stark in a dual role of President of Parallax Diagnostics, Inc. A wholly owned subsidiary of Parallax Health Sciences, Parallax Diagnostics is developing an innovative, mobile point of care testing platform for use doctors offices, and remote monitoring of patients. Parallax's Mobile immunoassay analyzer and flow through Target Cartridges are currently Patented in the US, China, Hong Kong and India and deliver laboratory-quality results inside of 10 minutes and at a reduced cost of comparable laboratory tests. Mr. Stark brings to Parallax more than [20] years of experience in healthcare R&D, clinical research, regulatory affairs and marketing.

"Our point-of-care diagnostic system represents a paradigm shift for the healthcare industry by providing lab-quality results without the need for time-consuming laboratory processing," said Paul Arena, Chief Executive Officer of Parallax Health Sciences. "David's deep understanding of healthcare R&D, clinical site management, diagnostics and medical device development from regulatory review and approval to commercialization make him ideal for this leadership position. Furthermore, the timing of his arrival is aligned with our work to complete development and launch our novel point-of-care immunoassay testing system."

Parallax Diagnostics is developing its patented technology as systems integrated platform, that is interoperable and fully ubiquitous, with a number of tests and medical Applications, providing remote monitoring of chronic diseases, and communication capabilities, via internet-based mobile phone applications to health providers and into electronic health records. Currently Parallax Diagnostics has an FDA-cleared diagnostics Qualitative and Quantitative analyzer and 26 FDA-cleared rapid immunoassay tests that use finger prick blood samples verse venous blood, to monitor various cardiac and infectious diseases, as well as other medical conditions, or provide biometric feedback for health-related behavioral modification.

"I'm delighted to take the lead in the rollout and continued development of this revolutionary connected point-of-care diagnostic and monitoring system. When fully operational and integrated with Parallax's Intrinsic Code, a patented data-driven outcome optimization technology, we believe it will lead to better clinical outcomes by providing physicians with real-time monitoring of patient conditions and facilitate timely intervention," said Dr. Stark. "This technology addresses the problems around cost and access to healthcare and has the potential to reduce healthcare costs and hospital readmissions while providing a convenient experience for patients and physicians to track and evaluate treatment progress."

Most recently Dr. Stark was Director of Development for the global clinical research organization Spaulding Clinical Research and Director of Business Development – West Coast for MedSource [KMC1] , with responsibilities for facilitating the commercialization of a range of complex clinical research services for pharmaceutical and biotech companies in the western U.S. Prior to that, he was Development Director, West Coast for Veristat, LLC, where he developed new clinical research and business development opportunities. Dr. Stark has also held senior clinical and business development positions at InSite Vision, MedPoint Digital, BioMarin Pharmaceutical and Amstem Corporation.

Dr. Stark holds a BS in biology from the University of Iowa and a Doctorate of Chiropractic from Palmer College of Chiropractic. He completed a postdoctoral internship in forensic medicine at the University of California, Irvine.

About Parallax Health Sciences

Parallax Health Sciences is an advanced, technology-driven telehealth company that allows for cost-effective remote diagnosis, treatment and monitoring of patients through proprietary platforms of integrated products and services. The Company's interoperable novel applications provide patients point-of-care testing and monitoring with information communicated via internet-based mobile phone applications that are agnostic as to operating system and are built on highly sophisticated data analytics. Information is retrieved real-time by physicians who are monitoring patients with chronic diseases or through biometric feedback for health-related behavior modification, and is automated for integration into electronic health records. The Company's products and offerings capitalize on the digital transformation in healthcare for improved patient compliance, diagnosis and treatment, and support healthcare system cost savings and efficiencies. For more information, please visit https://parallaxhealthsciences.com

Forward-Looking Statements

This release includes forward-looking statements contained within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding Parallax's expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as "anticipate," "if," 'believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions, are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond Parallax's control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. Factors that may cause actual results to differ materially from those in the forward-looking statements include those set forth in Parallax's Form 10-K and other report filings with the SEC. Parallax is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.



LHA Investor Relations

Jody Cain jcain@lhai.com

Kevin Mc Cabe kmccabe@lhai.com


[KMC1]Paul, these appear to be concurrent appointments, please confirm.

SOURCE: Parallax Health Sciences, Inc.