SOURCE: Medigus

January 23, 2017 07:00 ET

Medigus Receives First Purchase Order for MUSE in Italy

OMER, ISRAEL--(Marketwired - Jan 23, 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 that it received the first purchase order (PO) for the MUSE™ system in Italy from INNOVAMEDICA S.p.A, a privately-owned distributor of minimally invasive medical devices, in accordance with their existing distribution agreement.

"Medigus' partnership with INNOVAMEDICA will expand the commercial availability of MUSE to patients in Italy who are seeking a minimally invasive treatment option for GERD," said Chris Rowland, CEO of Medigus. "We are pleased to offer another key market advanced technologies that enhance patient care and outcomes."

Under terms of the four-year agreement which took effect January 1st 2017, INNOVAMEDICA S.p.A. will be required to purchase at least EUR 1M of Medigus Ultrasonic Surgical Endostapler (MUSE™) equipment over the course of the agreement.

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).

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.

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