Israeli medical device company Medigus Ltd. (Nasdaq: MDGS; TASE:MDGS) has announced the signing of an exclusive distribution agreement for its Medigus Ultrasonic Surgical Endostapler (MUSE) system in the US for the treatment of heartburn. The agreement is with Micro-Tech Endoscopy USA, Inc., a leading global manufacturer of GI endoscopy disposables and non-vascular stents, and wholly-owned subsidiary of Micro-Tech (Nanjing) Co. Ltd. The new commercialization agreement takes effect immediately for an initial term of three years with annual increases in minimum purchases for the first seven years. Medigus also has an exclusive distribution agreement with Micro-Tech Europe for the MUSE™ system in Germany.
Based in Omer near Beersheva, Medigus develops minimally invasive endosurgical tools and an innovator in direct visualization technology
The MUSE procedure took effect in the US in 2016, with updated coding and payment information posted by the Federal Register in January of 2018. This update, which includes a 93% facility payment increase over the prior APC classification, will benefit the US launch of the MUSE system from a reimbursement standpoint.
Medigus CEO Chris Rowland said, “This agreement is consistent with our strategy to commercialize our innovative products in targeted markets. Medigus is pleased to add Micro-Tech Endoscopy USA Inc. to our distribution team, and are looking forward to broadening MUSE availability through its very capable US sales organization. This agreement is an organic extension of the strong relationship we already have with Micro-Tech Europe - we are delighted that Micro-Tech recognizes the quality and innovation of our products.”
Micro-Tech Endoscopy USA president Chris Li said, “We look forward to offering our customers Medigus’ outstanding product solutions. The addition of MUSE to our growing portfolio supports our goal of arming our team with cutting-edge products that provide better outcomes and value to healthcare providers and patients.”
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 GERD, commonly referred to as acid reflux.
Those who experience symptoms such as heartburn or regurgitation twice a week or more, may be at risk of persistent GERD.
Published by Globes [online], Israel business news - www.globes-online.com - on August 5, 2018
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