Medigus Signed an Exclusive Agreement with Elbit Systems Land for the Distribution in Mexico of Pandemic Response Ventilators for COVID-19 Patients
OMER, Israel, May 15, 2020 - Medigus Ltd. (NASDAQ:MDGS) (TASE:MDGS), a technology company developing minimally invasive tools and an innovator in direct visualization technology, announced today the signing of an exclusive distribution agreement with Elbit Systems Land, a subsidiary of Elbit Systems Ltd (Nasdaq and TASE: ESLT) for a period of one year.
Elbit Systems manufactures LifeCan, an innovative pandemic response ventilator. As part of the agreement, Medigus will obtain exclusive rights from Elbit Systems, for marketing and sale of this product to customers in Mexico.
Medigus will be responsible for obtaining and maintaining licenses and approvals required by the Mexican regulations, including health administration authorities. In order to start the regulatory process, Medigus acquired two LifeCan systems that will assist the company in obtaining the required permits for the marketing and selling of the ventilators.
The Coronavirus pandemic has exposed an acute global shortage of ventilators, highlighting the need for large-scale accessibility and deployment of ventilation devices in times of crisis. Hospital ventilator machines are expensive and must be reserved for the most critically ill patients.
The LifeCan ventilator was developed and invented by LifeCan Medical Ltd to provide cost-effective, mechanical ventilation for a wide range of clinical settings, for immediate and widescale deployment. Highly portable, Life-Can provides a readily available ventilation solution capable of extended operation at a stable and accurate frequency and volume, according to pre-defined parameters. The device features preset rate/tidal volume, built-in air pressure sensors, failure indicator, and a backup battery.
LifeCan ventilator is a proprietary technology that was developed by LifeCan Medical Ltd and designed in cooperation with doctors, engineers, quality and regulation personnel, to meet the standards of performance and safety required for emergency ventilators. The device is designed for quick and easy operation, intuitive for use by medical personnel, and with minimum training required for non-professional healthcare providers.
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.