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Medigus’ Latest Acquisition Leads to a Store Near You

Stockhouse Editorial
3 Comments| August 19, 2021

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Medigus Ltd. (Nasdaq: MDGS, Forum) announced details this week on a private company it had acquired that produces branded products sold at stores like Walmart, Target, Staples, Kroger, and others.

The move to acquire 100% of the company was made for an initial consideration of $6 million (USD, to be paid in cash and equity) with a potential deferred consideration of up to additional $13.25 million (USD). Medigus noted that the target company finished 2020 profitable with $8 million (USD) in revenues.

The non-binding letter of intent was also signed by its 50.03% owned subsidiary, Jeffs’ Brands Ltd. (holding 100% in Smart Repair Pro Inc. and other wholly owned subsidiaries), a data-driven e-commerce company operating on the Amazon Marketplace.

For the full story, click here.

A technology company engaged in advanced medical solutions, innovative internet technologies, and electric vehicle and charging solutions, Medigus has made some intriguing headlines through companies under its purview over the summer, from subsidiary Charging Robotics Ltd.’s proof of concept on an electric vehicle wireless charging robot to private company Polyrizon Ltd.’s pre-clinical data showing its technology has the potential to reduce the risk of an infection with Human coronavirus and may also prevent COVID-19.

For more details on the company, visit medigus.com.


FULL DISCLOSURE: Medigus Ltd. Is a client of Stockhouse Publishing.


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