Medigus Ltd. American Depositary Share - MDGS STOCK NEWS

Medigus Ltd. (Nasdaq: MDGS) announced that its affiliate, Jeffs' Brands Ltd., has entered a non-binding letter of intent with SuperBuzz Inc. to collaborate on AI-driven marketing solutions for Amazon. This partnership aims to enhance ad targeting and sales for Jeffs' Brands' products. As part of the deal, Jeffs' Brands could invest up to $2 million in SuperBuzz within 90 days after the definitive agreement is signed. Jeffs' Brands CEO, Viki Hakmon, expressed enthusiasm for leveraging AI to improve marketing effectiveness. Medigus, based in Israel, is involved in medical technologies and digital commerce, including ownership in Jeffs' Brands.

Medigus Ltd. (Nasdaq: MDGS) announced that ScoutCam Inc. (owned 27% by Medigus) and Elbit Systems Ltd. have successfully completed a development phase of ScoutCam's real-time video monitoring (RTVM) system. This system replaces manual inspections for unmanned aerial vehicles (UAVs) and enhances visibility in hard-to-reach areas. The modular design of ScoutCam’s RTVM system integrates advanced sensors and AI algorithms for predictive maintenance, significantly improving operational safety and reducing costs. CEO Yehu Ofer highlighted the potential of this technology across various sectors. Medigus is focused on innovative partnerships in medical solutions and electric vehicle technology.

Medigus Ltd. (Nasdaq: MDGS) announced that its fully owned subsidiary, Charging Robotics Ltd., has been nominated to submit its solution for the 14th Innovation World Cup, focusing on IoT and DeepTech. The proposed solution features advanced AI and machine learning algorithms to enhance the efficiency of a Robotic Wireless Charging System for electric vehicles (EVs). The first-generation system is nearing completion, with future upgrades set to leverage data on EV usage and charging processes. This initiative includes collaboration with Make My Day for EV fleet management, improving both user experience and environmental impact.

Medigus Ltd. (Nasdaq: MDGS) announced that its 27% owned subsidiary, ScoutCam Inc. (OTCQB: SCTC), received a $2.5 million order from a major US orthopedic healthcare corporation for a groundbreaking FDA-cleared surgical device. This device utilizes ScoutCam's advanced video technologies, enhancing surgical visibility and safety. The anticipated revenues for 2023 are projected at $2.5 million, with potential for significant future earnings. CEO Yehu Ofer highlighted the device's capability to transform orthopedic surgeries, reducing reliance on microscopes and improving surgical outcomes.

Medigus Ltd. (Nasdaq: MDGS) announced the acquisition of an additional 10% of Cortex Media Group Ltd. by its subsidiary Gix Media Ltd., increasing its stake to 80%. The deal was valued at approximately $27 million, with $2.7 million paid in cash. This acquisition follows Gix Media's initial purchase in October 2021 when Cortex was valued at $16 million, attributing the valuation increase to significant business growth. Gix Media's revenues surged by 176% to $66.1 million for the nine months ending September 30, 2022. Funding for the acquisition will be sourced from cash and a $1.5 million loan.

Medigus Ltd. (MDGS) announces that its subsidiary, Eventer Technologies Ltd., will merge with AI Conversation Systems Ltd. on the Tel-Aviv Stock Exchange. Following the merger, Eventer shareholders will own 74.99% of the combined entity. The transaction is contingent on Eventer having at least $700,000 cash and being valued at a minimum of $5.7 million. Eventer specializes in event management solutions, including a proprietary platform for virtual conferences.

Medigus Ltd. (Nasdaq: MDGS) announced a cash capital distribution of $1.6 million, amounting to $0.85 per American Depositary Share (ADS), to be paid to holders as of the record date of December 20, 2022. The payment is expected on December 28, 2022, and is not subject to tax withholding in Israel due to a favorable tax ruling. Eligible holders can request a copy of the ruling. Medigus focuses on advanced medical solutions, digital commerce, and electric vehicle technologies, with various affiliates in these sectors.

Medigus Ltd. (Nasdaq: MDGS) announced that it has regained compliance with Nasdaq Listing Rule 5550(a)(2), which necessitates a minimum bid price of $1.00 per ADS. This determination follows the Company's ADSs closing at or above $1.00 for 10 consecutive business days. Nasdaq has officially closed the matter regarding the prior bid price deficiency. Based in Israel, Medigus focuses on advanced medical solutions, digital commerce, and electric vehicle technologies.

Medigus Ltd. (Nasdaq: MDGS) announced that its subsidiary, Charging Robotics, will release a beta version of a user interface app for its wireless charging robot by the end of the year.

This app, developed in collaboration with Make My Day, will streamline charging services for electric vehicles, particularly assisting disabled drivers. The system aims to enhance accessibility and reduce charging complexities.

Pilot tests for the system are scheduled for Q1 2023, marking a significant step in EV charging solutions.