Medigus Ltd. (TASE:MDGS) (NYSE:MDGS) has expanded its Italy operations: the company announced today that it has signed a distribution agreement with Italian minimally invasive medical device distributor Innovamedica. The deal is valued at a minimum of €1 million for four years. The company’s share price has responded with a sharp jump.
Medigus specializes in the development of minimally invasive endosurgical devices and is a leading company in the field of direct micro-visualization technology. According to the agreement, which will come into effect in early January 2017, the Italian company is expected to purchase Medigus' Ultrasonic Surgical Endostapler (Muse) systems worth at least €1 million.
“The Medigus Muse system addresses a growing need in Italy by offering a patient-friendly solution for a widespread disorder such as GERD (gastroesophageal reflux disease). We feel that our customers and their patients can greatly benefit from the use of this minimally invasive treatment option,” said Innovamedica President Marco Cavalli.
According to a recent study, 12% of Italy’s population suffer from reflux on a weekly basis
“Medigus remains committed to achieving our near-term goals for 2016 and beyond, as evidenced by this new partnership in Italy, which is a key growth market for our organization. As MUSE continues to gain adoption and build its body of clinical data around the world, we are pleased to collaborate with esteemed partners such as Innovamedica to help provide healthcare communities with advanced technologies that enhance patient care and outcomes,” said Medigus CEO Chris Rowland.
Published by Globes [online], Israel business news - www.globes-online.com - on November 23, 2016
© Copyright of Globes Publisher Itonut (1983) Ltd. 2016