Medigus Sold Micro Cameras to Two Leading Defense Organizations
OMER, Israel, July 19, 2019 - Medigus Ltd. (NASDAQ:MDGS) (TASE:MDGS), a technology company developing minimally invasive tools and an innovator in direct visualization technology, today announced that ScoutCam, the company’s wholly-owned subsidiary, sold its micro cameras to two leading defense organizations.
In addition, the company is engaged in advanced negotiations with several defense organizations to finance multiple R&D defense projects that will allow the company to develop its new micro video camera-based products. These new products, which are expected to be developed through the negotiated R&D projects, will target the multimillion-dollar market for military defense products and could generate new opportunities for the company. It is expected that the new R&D projects, if ultimately signed and fully executed, may generate hundreds of thousands of dollars in revenue for the Company.
ScoutCam continues to expand its micro camera business into additional industries and sectors beyond the medical market, and, thanks to the capabilities and innovativeness of its products, demonstrates the company’s growth in the form of customer orders from various fields and new projects.
The development of these new unique and advanced products is made possible thanks to the company's portfolio of micro video cameras, which includes both the micro ScoutCam™ 1.2 - considered the world's smallest video camera - and ScoutCam™ 8.0 HD. ScoutCam’s technology features optic and illumination solutions, micro sensors and high-end DSP video processors that can be tailored for both medical and industrial applications. ScoutCam 8.0 HD was selected by NASA to be incorporated into NASA’s Visual Inspection Poseable Invertebrate Robot 2 (VIPIR2). VIPIR2, a robotic, multi-capability inspection tool being used as part of NASA’s Robotic Refueling Mission 3 (RRM3), was launched into space in December 2018.
Medigus is traded on the Nasdaq Capital Market and the TASE (Tel Aviv Stock Exchange). To learn more about the company’s advanced technology, please visit www.medigus.com.