SOURCE: Medigus

Medigus

July 19, 2017 07:00 ET

Medigus Expands Global Commercial Availability of MUSE Through Distribution Agreement With Izasa Hospital, S.L.U. in Spain

OMER, ISRAEL--(Marketwired - Jul 19, 2017) -  Medigus Ltd. (NASDAQ: MDGS) (TASE: MDGS), a medical device company developing minimally invasive endosurgical tools and a leader in direct visualization technology, today announced a distribution agreement in Spain with Izasa Hospital, S.L.U., a distributor of medical products in the hospital sector. The five year commercialization agreement took effect July 1, 2017; Izasa Hospital, S.L.U. will be required to purchase a minimum of EUR 1.4 million of Medigus Ultrasonic Surgical Endostapler (MUSE™) equipment over the course of the agreement.

"About twenty-six percent of Europe's population experience reflux on a weekly basis1; we will now be able to better address this prolific issue with the introduction of MUSE in Spain," said Mr. Alfonso Garcia, General Manager of Izasa Hospital, S.L.U. "MUSE addresses an unmet need in long-term GERD care, and we feel that our customers and their patients will benefit from the use of this innovative treatment option."

"The MUSE system offers a minimally invasive solution for gastroesophageal reflux disease (GERD), and we are excited to expand availability to Spain, an important development market for our organization," said Chris Rowland, Chief Executive Officer of Medigus. "We are looking forward to collaborating with Izasa Hospital to help provide patients and the healthcare community with innovative and advanced technologies that enhance patient care and outcomes."

The MUSE system is a single-use flexible transoral stapler that merges the latest advancements in microvisual, ultrasonic and surgical stapling. The device comes equipped with an ultrasonic sight and range finder and a micro ScoutCam™ CMOS camera, which enables a single physician to perform an incisionless transoral fundoplication -- the procedure intended to treat the anatomical cause of gastroesophageal reflux disease (GERD).

GERD, commonly referred to as acid reflux, is largely characterized by heartburn. Those who experience symptoms such as heartburn or regurgitation twice a week or more, may be at risk for persistent GERD.

About Medigus
Medigus is a medical device company specializing in developing minimally invasive endosurgical tools and highly innovative imaging solutions. They are the pioneer developer of the MUSE™ system, an FDA cleared and CE marked endoscopic device to perform Transoral Fundoplication (TF) for the treatment of GERD (gastroesophageal reflux disease), one of the most common chronic conditions in the world. In 2016, the CMS established the Category I CPT® Code of 43210 for TF procedures, such as the ones performed with MUSE, which establishes reimbursement values for physicians and hospitals. MUSE is gaining adoption in key markets around the world -- it is available in world-leading healthcare institutions in the U.S., Europe and Israel. Medigus is also in the process of obtaining regulatory clearance in China. Medigus is traded on the Nasdaq Capital Market and the TASE (Tel-Aviv Stock Exchange). To learn more about the company's advanced technology, please visit www.medigus.com or www.RefluxHelp.com.

1 El-Serag HB, Sweet S, Winchester CC, Dent J. Update on the epidemiology of gastro-oesophageal reflux disease: a systematic review. Gut. 2014;63(6):871-880. doi:10.1136/gutjnl-2012-304269.

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