Medigus (MDGS) Enters Distribution Agreement in Italy

November 23, 2016 7:51 AM EST

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Medigus Ltd. (NASDAQ: MDGS) announced a distribution agreement in Italy with INNOVAMEDICA S.p.A, a privately owned distributor of minimally invasive medical devices. Under terms of the four-year agreement which will take effect January 1st 2017, INNOVAMEDICA S.p.A. will be required to purchase at least 1M € of Medigus Ultrasonic Surgical Endostapler (MUSE™) equipment over the course of the agreement.

“The Medigus MUSE system addresses a growing need in Italy by offering a patient-friendly solution for a widespread disorder such as GERD. We feel that our customers and their patients can greatly benefit from the use of this minimally invasive treatment option,” said Marco Cavalli, President, INNOVAMEDICA S.p.A.

“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,” said Chris Rowland, CEO of Medigus. “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.”

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. According to a recent review study, approximately 12% of Italy’s population experience reflux on a weekly basis.

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