Welcome to our dedicated page for Medigus Ltd. American Depositary Share news (Ticker: MDGS), a resource for investors and traders seeking the latest updates and insights on Medigus Ltd. American Depositary Share stock.
The MDGS news page on Stock Titan provides an organized view of announcements and disclosures related to the company historically associated with Medigus and, in more recent communications, with Xylo Technologies Ltd. Medigus is described as a medical device company in surgical and medical instrument manufacturing, focused on endoscopic systems for GERD treatment, while Xylo is presented in news releases as a technologies company engaged in advanced medical solutions, digital commerce, and electric vehicle markets through various affiliates.
News items connected to this lineage describe Xylo Technologies as based in Israel and traded on the Nasdaq Capital Market under the symbol XYLO. These releases highlight affiliations in advanced medical solutions via Polyrizon Ltd., in digital commerce via Gix Internet Ltd. and Eventer Technologies Ltd., and in electric vehicle technologies through Charging Robotics, Inc. and Revoltz Ltd. Other affiliations mentioned include ParaZero Technologies Ltd. and Zig Miami 54 LLC.
On this page, readers can review company-related news that may cover topics such as developments in advanced medical solutions, updates from affiliated digital advertising and digital commerce businesses, progress in electric vehicle wireless charging systems, micro-mobility vehicles for last-mile logistics, and drone safety technologies. Each article reflects how the broader group of affiliated companies is described as pursuing technology-based growth partnerships.
Investors and followers of MDGS can use this news feed to trace how the focus described for Medigus as a medical device manufacturer connects with later descriptions of Xylo Technologies’ wider technology portfolio. Regularly reviewing these items can help users understand how the company’s affiliations in medical, digital, and electric vehicle-related fields are presented in public communications.
Medigus Ltd. (Nasdaq: MDGS) announced that its 27% owned subsidiary, ScoutCam Inc. (OTCQB: SCTC), received a $2.5 million order from a major US orthopedic healthcare corporation for a groundbreaking FDA-cleared surgical device. This device utilizes ScoutCam's advanced video technologies, enhancing surgical visibility and safety. The anticipated revenues for 2023 are projected at $2.5 million, with potential for significant future earnings. CEO Yehu Ofer highlighted the device's capability to transform orthopedic surgeries, reducing reliance on microscopes and improving surgical outcomes.
Medigus Ltd. (Nasdaq: MDGS) announced the acquisition of an additional 10% of Cortex Media Group Ltd. by its subsidiary Gix Media Ltd., increasing its stake to 80%. The deal was valued at approximately $27 million, with $2.7 million paid in cash. This acquisition follows Gix Media's initial purchase in October 2021 when Cortex was valued at $16 million, attributing the valuation increase to significant business growth. Gix Media's revenues surged by 176% to $66.1 million for the nine months ending September 30, 2022. Funding for the acquisition will be sourced from cash and a $1.5 million loan.
Medigus Ltd. (MDGS) announces that its subsidiary, Eventer Technologies Ltd., will merge with AI Conversation Systems Ltd. on the Tel-Aviv Stock Exchange. Following the merger, Eventer shareholders will own 74.99% of the combined entity. The transaction is contingent on Eventer having at least $700,000 cash and being valued at a minimum of $5.7 million. Eventer specializes in event management solutions, including a proprietary platform for virtual conferences.
Medigus Ltd. (Nasdaq: MDGS) announced a cash capital distribution of $1.6 million, amounting to $0.85 per American Depositary Share (ADS), to be paid to holders as of the record date of December 20, 2022. The payment is expected on December 28, 2022, and is not subject to tax withholding in Israel due to a favorable tax ruling. Eligible holders can request a copy of the ruling. Medigus focuses on advanced medical solutions, digital commerce, and electric vehicle technologies, with various affiliates in these sectors.
Medigus Ltd. (Nasdaq: MDGS) announced that it has regained compliance with Nasdaq Listing Rule 5550(a)(2), which necessitates a minimum bid price of $1.00 per ADS. This determination follows the Company's ADSs closing at or above $1.00 for 10 consecutive business days. Nasdaq has officially closed the matter regarding the prior bid price deficiency. Based in Israel, Medigus focuses on advanced medical solutions, digital commerce, and electric vehicle technologies.
Medigus Ltd. (Nasdaq: MDGS) announced that its subsidiary, Charging Robotics, will release a beta version of a user interface app for its wireless charging robot by the end of the year.
This app, developed in collaboration with Make My Day, will streamline charging services for electric vehicles, particularly assisting disabled drivers. The system aims to enhance accessibility and reduce charging complexities.
Pilot tests for the system are scheduled for Q1 2023, marking a significant step in EV charging solutions.
Medigus Ltd. (Nasdaq: MDGS) reported impressive financial results from its subsidiary Viewbix for Q3 and the first nine months of 2022. Viewbix's revenues surged to $66.1 million, a 176% increase year-over-year, with Q3 revenues hitting $22.8 million, up 182%. EBITDA for the nine-month period reached $3.5 million, marking a 178% growth. Furthermore, operating income improved to $1.4 million, a turnaround from a loss in 2021. Net cash from operations rose 40% to $2.2 million for the nine months.
Medigus Ltd. (Nasdaq: MDGS) announced a cash capital distribution of $1.6 million approved by the Tel Aviv District Court on November 13, 2022. The court's approval is valid for 180 days. Following this, on November 17, Medigus' board resolved to distribute the cash to holders of the Company’s ADSs and eligible warrant holders based on their holdings. An announcement regarding the exact timing and details of this distribution will follow.
Medigus Ltd. (Nasdaq: MDGS) announced a significant development involving its 40% ownership stake in ParaZero Technologies. ParaZero has secured a purchase order worth approximately $241,000 USD for its SafeAir safety systems from a global aerospace company specializing in UAV development. This order underscores the growing demand for ParaZero's innovative drone safety solutions, which include advanced safety systems designed to autonomously manage emergencies. This partnership enhances Medigus’ positioning in the advanced technology sector.
Medigus Ltd. (Nasdaq: MDGS) announced a non-binding letter of intent with AI Conversation Systems Ltd. for a potential securities exchange agreement. This agreement will enable Medigus' subsidiary, Eventer Technologies Ltd., to become a wholly-owned subsidiary of AI Conversation Systems, acquiring 74.99% of its share capital, provided Eventer is valued at no less than $13 million. CEO Liron Carmel highlights the benefits of going public for Eventer, aiming for improved capital access and market expansion.
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