Medigus: Smart Repair Pro gains Amazon’s approval for launch in Singapore
OMER, Israel, Dec. 07, 2020 - Medigus Ltd. (Nasdaq:MDGS) (TASE:MDGS), a technology company engaged in advanced medical solutions and innovative internet technologies, today announced that it was informed by Smart Repair Pro, Inc. a data-driven e-commerce company operating on the Amazon Marketplace, that all of Amazon’s required regulatory processes were completed, which allows for the opening of its store in Singapore. Following Amazon’s approval, Smart Repair Pro is preparing to launch its brands for the first time in these two countries. Smart Repair Pro has already received Amazon’s approval to launch in Australia, the United Kingdom and four leading countries in Europe and operates in the U.S. today.
Medigus recently announced it intends to enter into e-commerce business by signing a definitive agreement to acquire a controlling interest in Smart Repair Pro and Purex, Inc. Pursuant to the agreement, Medigus will own 50.01% of the issued and outstanding share capital of each of the companies. The closing of the transactions contemplated in the definitive agreements are subject to customary closing conditions.
Smart Repair Pro and Purex currently manage three successful brands on the Amazon Marketplace, offering a variety of products. According to initial information provided to Medigus, the companies’ revenues target for 2020 is approximately $3 million with net profit of approximately 35%.
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.