Apyx Medical Corporation Releases Environmental, Social and Governance Data in New Tear Sheet

Rhea-AI Summary

Apyx Medical Corporation (NASDAQ:APYX) has unveiled its inaugural environmental, social, and governance (ESG) data through a newly released tear sheet. This document, compiled with third-party assistance, highlights the Company's ESG priorities and sets a baseline for future assessments. It includes data for the year ending December 31, 2021, focusing on environmental, social, and governance issues, including energy management, product safety, and Board diversity. CEO Charlie Goodwin emphasized the importance of these efforts to positively impact employees and stakeholders.

Positive

• Release of first ESG data report establishes a framework for future assessments.
• Focus on key priorities like energy management and workforce diversity could enhance corporate responsibility and stakeholder relations.

Negative

• The tear sheet contains data for 2021 only, limiting current relevance.
• Dependence on third-party consultants may raise concerns about the accuracy of the ESG data.

CLEARWATER, Fla.--(BUSINESS WIRE)-- Apyx Medical Corporation (NASDAQ:APYX) (the “Company”), the manufacturer of proprietary helium plasma and radiofrequency technology products marketed and sold as Renuvion^® in the cosmetic surgery market and J-Plasma^® in the hospital surgical market, today announced its first reporting of environmental, social and governance (“ESG”) data via a newly released tear sheet. This data provides context to the Company’s ESG goals and priorities important to its business and stakeholders.

The Company’s tear sheet outlines environmental, social and governance priorities, and includes selected data for the year ended December 31, 2021. Under the oversight of the Nominating and Governance Committee of its Board of Directors, and with the assistance of a third-party consultant with expertise in this area, the data was compiled by various members of the Company’s management team, with much of it being collected for the first time. The goal of the tear sheet is to provide an overview of the Company’s recent performance and set a baseline for assessing future progress.

The tear sheet provides disclosure in accordance with the Sustainability Accounting Standards Board (“SASB”) standards for the Medical Equipment and Supplies sector. In addition, it provides disclosure of additional ESG metrics that are relevant to the Company’s business and identifies where efforts and programs are aligned with the United Nations Sustainable Development Goals (“UN SDGs”).

The priorities documented in the tear sheet include environmental issues such as energy and waste management. Social priorities documented include product safety and quality, ethical marketing practices and supply chain management, as well as workforce diversity, employee health and safety, employee training, development and engagement and pay equity. Governance priorities documented include Board diversity and oversight, data privacy and security and employee and supplier business ethics.

“At this early stage in our ESG journey, we know how important it is to assess and understand where we are in order to measure progress and achieve the goals we have communicated,” said Charlie Goodwin, President and Chief Executive Officer. “These efforts will positively impact our employees, our physician customers and their patients, enhance our care of the environment and continue our commitment to operating our business with the highest level of ethics and responsibility.”

A copy of the Company’s tear sheet can be found on the Investor Relations section of its website at http://apyxmedical.com/wp-content/uploads/2022/07/apyx_medical_enviornmental_social_and_governance_tear_sheet_072522.pdf

About Apyx Medical Corporation:

Apyx Medical Corporation is an advanced energy technology company with a passion for elevating people’s lives through innovative products, including its Helium Plasma Technology products marketed and sold as Renuvion^® in the cosmetic surgery market and J-Plasma^® in the hospital surgical market. Renuvion^® and J-Plasma^® offer surgeons a unique ability to provide controlled heat to tissue to achieve their desired results. The Company also leverages its deep expertise and decades of experience in unique waveforms through OEM agreements with other medical device manufacturers. For further information about the Company and its products, please refer to the Apyx Medical Corporation website at www.ApyxMedical.com.

Cautionary Statement on Forward-Looking Statements:

Certain matters discussed in this release and oral statements made from time to time by representatives of the Company may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved.

All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to, any statements regarding the potential impact of the COVID-19 pandemic and the actions by governments, businesses and individuals in response to the situation; projections of net revenue, margins, expenses, net earnings, net earnings per share, or other financial items; projections or assumptions concerning the possible receipt by the Company of any regulatory approvals from any government agency or instrumentality including but not limited to the U.S. Food and Drug Administration, supply chain disruptions, component shortages, manufacturing disruptions or logistics challenges; or macroeconomic or geopolitical matters and the impact of those matters on the Company’s financial performance.

Forward-looking statements and information are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company’s ability to control or predict. Important factors that may cause the Company’s actual results to differ materially and that could impact the Company and the statements contained in this release include but are not limited to risks, uncertainties and assumptions relating to the regulatory environment in which the Company is subject to, including the Company’s ability to gain requisite approvals for its products from the U.S. Food and Drug Administration and other governmental and regulatory bodies, both domestically and internationally; the impact of the recent FDA Safety Communication on our business and operations; factors relating to the effects of the COVID-19 pandemic; sudden or extreme volatility in commodity prices and availability, including supply chain disruptions; changes in general economic, business or demographic conditions or trends; changes in and effects of the geopolitical environment; liabilities and costs which the Company may incur from pending or threatened litigations, claims, disputes or investigations; and other risks that are described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and the Company’s other filings with the Securities and Exchange Commission. For forward-looking statements in this release, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220727005890/en/

Investor Relations Contact:

ICR Westwicke on behalf of Apyx Medical Corporation

Mike Piccinino, CFA

investor.relations@apyxmedical.com

Source: Apyx Medical Corporation

FAQ

What is Apyx Medical Corporation's recent ESG announcement?

Apyx Medical Corporation announced the release of its first ESG data tear sheet, outlining priorities and metrics for the year ending December 31, 2021.

When was the ESG data for Apyx Medical compiled?

The ESG data was compiled for the year ending December 31, 2021.

How does Apyx Medical's ESG report align with industry standards?

The report discloses information in accordance with the Sustainability Accounting Standards Board (SASB) standards for the Medical Equipment and Supplies sector.

What are the main ESG priorities outlined by Apyx Medical?

The main ESG priorities include environmental management, product safety, workforce diversity, and governance practices.

What does CEO Charlie Goodwin say about Apyx Medical's ESG efforts?

Charlie Goodwin emphasized that understanding their ESG position is crucial for measuring progress and enhancing their ethical business practices.