Medigus Ltd. American Depositary Share - MDGS STOCK NEWS

Medigus Ltd. (Nasdaq:MDGS) has announced that its affiliate, ScoutCam Inc., received a patent notice of allowance from the U.S. Patent and Trademark Office. This patent covers ScoutCam's design of Printed Circuit Boards (PCBs) that enables the creation of smaller cameras. These advancements facilitated ScoutCam's selection for NASA's third Robotic Refueling Mission (RRM3) held in October 2020. The new technology also presents valuable opportunities in the medical field, particularly for disposable endoscopes, which are crucial in the U.S. medical market, conducting approximately 75 million procedures annually.

Medigus Ltd. (Nasdaq:MDGS) announced that its subsidiary, ScoutCam Inc., has been certified as a vendor by the Israeli Ministry of Defense. This certification allows ScoutCam to participate in tenders and provide its innovative visual solutions directly to defense agencies in Israel, expanding its market reach. The company has also gained recognition from NASA and a Fortune 500 healthcare corporation. ScoutCam specializes in miniature cameras designed for defense and aerospace applications, offering advanced technology for various operational conditions.

Medigus Ltd. (Nasdaq:MDGS) announced the successful use of its micro ScoutCam 8.0 HD during NASA's Robotic Refueling Mission 3 (RRM3), held from October 19th-22nd, 2020. This micro camera, developed for NASA, performed as the borescope camera for the Visual Inspection Poseable Invertebrate Robot 2 (VIPIR2). The mission showcases Medigus' commitment to advanced technology, having previously used the micro ScoutCam 1.2 during earlier phases. CEO Yaron Silberman expressed pride in the collaboration, highlighting the competitive bidding process with U.S. Government.

Medigus Ltd. (Nasdaq:MDGS) has announced that Smart Repair Pro, a data-driven e-commerce company, has completed all regulatory processes required by Amazon, enabling its store launch in Australia. This marks Smart Repair Pro's entry into the Australian market, following approvals to launch in five European countries and current operations in the U.S. Medigus is acquiring a controlling interest in Smart Repair Pro and Purex, owning 50.01% of both. The companies aim for 2020 revenues of approximately $3 million, with a net profit margin of around 35%.

Medigus Ltd. (Nasdaq:MDGS) announced a strategic investment in Eventer Technologies Ltd., acquiring a 50.1% stake with an investment of up to $1 million and a loan of $1.25 million. Eventer, a platform for automated ticketing and event management, has hosted 22,700 events, reflecting a 118% annual growth. The company aims to expand its reach, particularly in North America, capitalizing on increased demand for online events. With a commission structure of 3%-6% on ticket sales, Eventer generated approximately NIS 88 million in ticket sales in 2019.

Medigus Ltd. (NASDAQ:MDGS) has increased its stake in Gix Internet Ltd. to approximately 33%, becoming its largest shareholder. Gix Internet reported revenues of $18.5 million for Q2 2020, with a market cap of $10 million as of October 14, 2020. This move allows Medigus to convert Linkury Shares into Ordinary Shares of Gix Internet, totaling around 9.86 million shares, pending shareholder approval. The company's technology is integrated with major platforms including Google and Apple.

On October 13, 2020, Medigus Ltd. (NASDAQ:MDGS) announced the completion of Amazon's regulatory processes allowing its subsidiary Smart Repair Pro, Inc. to launch an e-commerce store in the UK, France, Italy, Germany, and Spain. This follows Medigus's recent acquisition of a controlling interest in Smart Repair Pro and Purex, Inc., targeting approximately $3 million in revenue for 2020 with a net profit margin of 35%. The closing of the deal is subject to customary conditions.

Medigus Ltd. (NASDAQ:MDGS) has signed a definitive agreement to acquire a controlling interest in Smart Repair Pro, Inc. and Purex, Inc., both e-commerce companies on Amazon Marketplace. Medigus will invest $1,250,000, pay $150,000 in cash, and issue $500,000 in restricted ADSs, with the potential for additional milestone payments of $750,000. The companies aim for a revenue of approximately $3 million in 2020, with a net profit margin of about 35%. The deal is subject to customary closing conditions.

Medigus Ltd. (NASDAQ:MDGS) announces its subsidiary ScoutCam Inc. has upgraded to the OTCQB Venture Market, enhancing its visibility within the investment community. ScoutCam, specializing in custom visual solutions including micro-cameras, aims to leverage this upgrade to attract more investors. The OTCQB provides high-quality trading for entrepreneurial companies and requires compliance with financial reporting and other eligibility criteria. This upgrade marks a significant milestone for ScoutCam, furthering its market position.