Medigus Ltd. American Depositary Share Stock Price, News & Analysis

Medigus Ltd. (NASDAQ:MDGS) announced plans for a joint venture with EMuze, focusing on developing EV-based micro-mobility vehicles for urban transport. The company aims to establish NewCo through a memorandum of understanding, initially acquiring 19.99% share for $250,000, with potential to increase to 50.1% via additional investment. Alon Davidi from General Motors will serve as the EV advisor. EMuze's vehicles promise full-day operation on a single charge and are tailored for various applications, supported by a manufacturing agreement with Ningbo Beijing Shen Jian Machinery Technology.

Medigus Ltd. (Nasdaq:MDGS) announced that its affiliate, Matomy Media Group Ltd., has entered into a merger agreement with Global Automax Ltd., an Israeli automotive importer. This transaction involves a share exchange where Matomy will acquire 100% of Global Automax in exchange for approximately 53% of Matomy’s capital. Global Automax recorded a turnover of NIS 355 million from selling about 3,000 vehicles in 2019. Shareholders of Global Automax may earn additional shares contingent on achieving specified milestones by December 31, 2023.

Medigus Ltd. (Nasdaq:MDGS) announced a non-binding term sheet for a $100,000 investment in Polyrizon Ltd., increasing its stake from 19.9% to approximately 33%. This investment supports Polyrizon's aim to submit products for FDA approval, particularly a Biogel aimed at protecting against COVID-19. Medigus also has the option to invest an additional $50,000 within 60 days of initial closing. The collaboration includes an exclusive license for Medigus to resell Polyrizon's products upon FDA approval.

Medigus Ltd. (NASDAQ:MDGS) has announced the successful soft launch of its AI-driven event platform, Eventer, in the U.S. market. This launch coincided with a virtual book event for The Influencer Code by Amanda Russell, hosted by The Andy Roddick Foundation. The platform allows for automated management, promotion, and billing of events, catering to both individuals and enterprises. Eventer’s client roster includes major companies such as American Express and Live Nation, emphasizing its robust capabilities in online ticketing and event management.

Medigus Ltd. (Nasdaq:MDGS) announced that Purex Inc. will launch COVID-19 related products on Amazon USA, including a portable sanitizer for mobile phones and a UV sterilizer bag. Medigus has acquired a 50.01% interest in Purex as part of its e-commerce strategy. The agreement is expected to close soon, with Purex targeting revenues of approximately $3 million for 2020 and a net profit margin of around 35%. This marks Medigus' entry into the e-commerce sector, leveraging Purex's existing brands and customer base.

Medigus Ltd. (Nasdaq:MDGS) has announced that its affiliate, ScoutCam Inc., received a patent notice of allowance from the U.S. Patent and Trademark Office. This patent covers ScoutCam's design of Printed Circuit Boards (PCBs) that enables the creation of smaller cameras. These advancements facilitated ScoutCam's selection for NASA's third Robotic Refueling Mission (RRM3) held in October 2020. The new technology also presents valuable opportunities in the medical field, particularly for disposable endoscopes, which are crucial in the U.S. medical market, conducting approximately 75 million procedures annually.

Medigus Ltd. (Nasdaq:MDGS) announced that its subsidiary, ScoutCam Inc., has been certified as a vendor by the Israeli Ministry of Defense. This certification allows ScoutCam to participate in tenders and provide its innovative visual solutions directly to defense agencies in Israel, expanding its market reach. The company has also gained recognition from NASA and a Fortune 500 healthcare corporation. ScoutCam specializes in miniature cameras designed for defense and aerospace applications, offering advanced technology for various operational conditions.

Medigus Ltd. (Nasdaq:MDGS) announced the successful use of its micro ScoutCam 8.0 HD during NASA's Robotic Refueling Mission 3 (RRM3), held from October 19th-22nd, 2020. This micro camera, developed for NASA, performed as the borescope camera for the Visual Inspection Poseable Invertebrate Robot 2 (VIPIR2). The mission showcases Medigus' commitment to advanced technology, having previously used the micro ScoutCam 1.2 during earlier phases. CEO Yaron Silberman expressed pride in the collaboration, highlighting the competitive bidding process with U.S. Government.