OMER, Israel, Dec. 18, 2018 (GLOBE NEWSWIRE) -- Medigus Ltd. (NASDAQ: MDGS) (TASE: MDGS), a medical device company
developing minimally invasive endosurgical tools and a leader in direct visualization technology, today announced that it is in
advanced negotiations to grant a license or licenses to its MUSE™ technology Globally and/or in greater China. For this
purpose, Medigus commenced advanced talks with relevant multi-national medical device companies and is expected to receive upfront
payments that may add up to millions of U.S. dollars should such transactions close.
Such transactions will be subject to the completion and execution of mutually acceptable definitive agreement and the
satisfaction of closing conditions to be contained therein.
Medigus’ efforts to sell a license or licenses to the MUSE™ technology are further to the decision of its board of
directors to create immediate value to the Company and its shareholders in the various operation fields of the Company by
optimizing the Company’s operations, decreasing the ordinary course expenses and creating an immediate significant and positive
cash flow.
About Medigus
Medigus is a medical device company specializing in developing minimally invasive endosurgical tools and highly innovative imaging
solutions. Medigus is the pioneer developer of the MUSE™ system, an FDA cleared and CE marked endoscopic device to perform
Transoral Fundoplication (TF) for the treatment of GERD (gastroesophageal reflux disease), one of the most common chronic
conditions in the world. In 2016, the CMS established the Category I CPT® Code of 43210 for TF procedures, such as the
ones performed with MUSE, which establishes reimbursement values for physicians and hospitals. Medigus makes persistent efforts to
gain MUSE adoption in key markets around the world – it is available in world-leading healthcare institutions in the U.S., Europe
and Israel. Medigus is also in the process of obtaining regulatory clearance in China. Medigus is traded on the Nasdaq Capital
Market and the TASE (Tel-Aviv Stock Exchange Ltd.). To learn more about the company’s advanced technology, please visit
www.medigus.com or www.RefluxHelp.com.
This press release may contain statements that are “Forward-Looking Statements,” which are based upon the current estimates,
assumptions and expectations of the company’s management and its knowledge of the relevant market. The company has tried, where
possible, to identify such information and statements by using words such as “anticipate,” “believe,” “envision,” “estimate,”
“expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,”
“contemplate” and other similar expressions and derivations thereof in connection with any discussion of future events, trends or
prospects or future operating or financial performance, although not all forward-looking statements contain these identifying
words. These forward-looking statements represent Medigus’ expectations or beliefs concerning future events, and it is
possible that the results described in this press release will not be achieved. By their nature, Forward-Looking Statements involve
known and unknown risks, uncertainties and other factors which may cause future results of the company’s activity to differ
significantly from the content and implications of such statements. Other risk factors affecting the company are discussed in
detail in the company's filings with the Securities and Exchange Commission. Forward-Looking Statements are pertinent only as of
the date on which they are made, and the company undertakes no obligation to update or revise any Forward-Looking Statements,
whether as a result of new information, future developments or otherwise. Neither the company nor its shareholders, officers and
employees, shall be liable for any action and the results of any action taken by any person based on the information contained
herein, including without limitation the purchase or sale of company securities. Nothing in this press release should be deemed to
be medical or other advice of any kind.
MEDIA CONTACT:
Chantal Beaudry
Lazar Partners Ltd.
212-867-1762
cbeaudry@lazarpartners.com
