Medigus Broadens Availability of MUSE™ Through Distribution Agreement With ADMEDICS AG in Switzerland and Liechtenstein
OMER, Israel, July 26, 2017 – Medigus Ltd. (NASDAQ: MDGS) (TASE: MDGS), a medical device company developing minimally invasive endosurgical tools and a leader in direct visualization technology, today announced a distribution agreement in Switzerland and Liechtenstein with ADMEDICS AG (Advanced Medical Solutions AG), a distributor of minimally invasive medical devices. The commercialization agreement will take effect July 1, 2017; ADMEDICS AG will be required to purchase a minimum of EUR 1.8 million of Medigus Ultrasonic Surgical Endostapler (MUSE™) equipment over the course of the five-year agreement.
“The introduction of a minimally invasive treatment option such as MUSE™ into Switzerland and Liechtenstein will greatly benefit gastroesophageal reflux disease (GERD) patients,” said Hans Jäggi, President, ADMEDICS AG. “MUSE™ addresses the unmet treatment need for patients who can no longer rely on drug therapy. This minimally invasive and more cost-effective option can benefit these patients, their doctors and the healthcare system at large.”
“GERD is a highly prevalent disease in Western countries , so we are excited to expand availability of MUSE™ to Switzerland and Liechtenstein, two development markets that will greatly benefit from it, “ said Chris Rowland, Chief Executive Officer of Medigus. “We are pleased to have ADMEDICS AG as our partner, and our distribution agreement is an important milestone for expanding market access to our product.”
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 GERD, commonly referred to as acid reflux.
Those who experience symptoms such as heartburn or regurgitation twice a week or more, may be at risk for persistent GERD.