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Medigus Ltd. (NASDAQ: MDGS) is an innovative medical device company renowned for its groundbreaking endoscopic procedures and devices. The company has developed a comprehensive endoscopic system designed for the intraluminal treatment of Gastroesophageal Reflux Disease (GERD), a prevalent chronic condition in the Western world. The centerpiece of Medigus's offering is the SRS system, which integrates a miniaturized video camera, surgical stapler, and ultrasonic sights for precise alignment into a single, flexible endoscope. This unique system allows gastroenterologists and surgeons to perform endoluminal partial anterior fundoplications, thereby eliminating the need for traditional open or laparoscopic surgery, significantly advancing the clinical management of GERD.
Alongside its flagship SRS system, Medigus also designs and manufactures bespoke endoscopy systems for partner companies, leveraging its proprietary technology to meet diverse clinical needs. This dual focus on innovation in GERD treatment and custom endoscopic solutions underscores Medigus's commitment to advancing medical care through minimally invasive techniques.
Based in Israel, Medigus's recent initiatives include strategic partnerships and collaborations to expand the reach and application of their technologies. The company's financial health is bolstered by these partnerships, alongside a strong pipeline of ongoing projects aimed at enhancing patient outcomes and broadening the scope of endoscopic treatments.
For the latest updates, news, and detailed financial information, stakeholders can contact: Tali Dinar, Chief Financial Officer, at ir@medigus.com, or Michal Efraty, Investor Relations, at michal@efraty.com.
Medigus Ltd. (Nasdaq: MDGS) announced that its affiliate, Gix Internet, acquired a 70% stake in Cortex Group for approximately $11 million. Cortex, a media-tech company established in 2015, reported revenues of ~$12.3 million and an operating profit of $1.3 million for H1 2021. This acquisition aligns with Gix’s strategy to enhance its MarTech solutions. A credit line of up to $3.5 million and loans of ~$7 million are being secured to facilitate the purchase. This move positions Gix for potential market expansion and revenue growth.
Medigus Ltd. (Nasdaq: MDGS) announced that its 35.86% owned company, Polyrizon Ltd., presented promising pre-clinical data for its Capture and Contain (C&C™) technology. This innovative platform demonstrates the potential to significantly reduce the risk of Influenza H1N1 infections. Results indicate a dose-dependent efficacy in preventing the virus from affecting epithelial cells and protecting the nasal cavity. Polyrizon's product also showed a broad spectrum of activity against various respiratory viruses, including prior success against human coronavirus 229E.
Medigus Ltd. (Nasdaq: MDGS) announced that its 50.03% owned subsidiary, Jeffs’ Brands Ltd., has signed a non-binding Letter of Intent to acquire a private consumer products company for $6 million, with up to an additional $13.25 million based on future profitability. The target company, which sells products in major retailers like Walmart and Target, generated $8 million in revenue in 2020. This acquisition aims to expand Jeffs’ Brands' portfolio and enhance revenue growth.
Medigus Ltd. (Nasdaq: MDGS) has announced a successful proof of concept for its wireless charging robot developed by its subsidiary, Charging Robotics Ltd.. The demonstration showcased 93% charging efficiency at 1 kW, enabling the robot to autonomously align itself for optimal charging without physical contact. The company plans to advance to a commercial pilot project and enhance charging power from 1 kW to approximately 13 kW, the standard for domestic chargers. This innovation aims to provide seamless battery charging for both manned and unmanned electric vehicles.
Medigus Ltd. (Nasdaq: MDGS) has announced a $2 million buyback program for its ADRs, pending court approval. The initiative aims to enhance shareholder value and will be formally approved alongside its financial statements for the six months ending June 30, 2021. The company is also expected to seek a financial advisor's opinion to facilitate this process. The effectiveness of this program hinges on legal validation, reflecting Medigus' commitment to its investors while acknowledging potential risks associated with the buyback.
Medigus Ltd. (Nasdaq: MDGS) announced encouraging pre-clinical results from Polyrizon Ltd., in which it owns 33.24%. Polyrizon's innovative biological gel effectively reduced infection risks from human coronavirus 229E, showing high efficacy in preventing the virus from affecting epithelial cells. The study indicated a good safety profile and broad-spectrum activity against various viruses. Medigus plans to initiate clinical trials pending regulatory approvals, with first efficacy results expected within 12 months.
Medigus Ltd. announces a non-binding letter of intent to acquire a controlling interest in a B2B and B2C electronics distributor in Israel with revenues of $11.4 million in 2020. Medigus aims to buy 50.06% of the target company for approximately $3.3 million, leveraging its online presence and strategic synergies. The acquisition is expected to enhance Medigus' e-commerce capabilities and foster collaborations among its subsidiaries. The transaction is subject to future agreements and adjustments based on the target's 2021 performance.
Medigus Ltd. (Nasdaq: MDGS) announced it converted all rights to Linkury Ltd. shares for 3,954,980 additional ordinary shares of Gix Internet Ltd. (TASE: GIX), increasing its ownership to approximately 36.7%. Gix's board is exploring merger opportunities beyond online advertising, potentially taking Linkury public or distributing its shares to Gix shareholders. Gix's subsidiary, Linkury, is also set to acquire a company in online advertising, projected to generate revenues exceeding NIS 71 million in 2021.
Medigus Ltd. (MDGS) announced a significant milestone in its EV venture, Revoltz, with the completion of the Model One prototype for micromobility delivery. This three-wheeled vehicle is designed for efficient urban delivery, capable of carrying 2.5 times the load of a typical scooter. CEO Liron Carmel noted positive initial performance assessments and the readiness to manufacture more prototypes for testing. The venture focuses on addressing last-mile delivery challenges in e-commerce.
Medigus Ltd. (Nasdaq: MDGS) has entered a five-year exclusive distribution agreement with Automax Motors Ltd. for its wireless robotic charging pad in Israel and Greece. The agreement includes a one-time payment of $50,000 and grants Automax Motors the option to acquire up to 5% of Charging Robotics’ shares at a $30 million pre-money valuation. Charging Robotics is focused on developing an autonomous charging system for electric vehicles. This strategic partnership aims to enhance market reach and operational capabilities in the growing electric vehicle sector.
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