Medigus closes an investment in Smart Repair Pro and Purex, each Operating on the Amazon Marketplace
OMER, Israel, Jan. 04, 2021 - Medigus Ltd. (Nasdaq: MDGS) (TASE: MDGS), a technology company engaged in advanced medical solutions and innovative internet technologies, today announced it has closed the previously announced agreements for the acquisition of controlling interest in each of Smart Repair Pro, Inc. and Purex, Corp, data-driven e-commerce companies operating on the Amazon Marketplace. Following the closings of these transactions, Medigus now owns approximately 50.01% of the issued and outstanding share capital of each of the companies.
Based on information provided by Amazon marketplace, during 2020, Smart Repair Pro and Purex, have shown growth of over 214% with approximately $2.2 million in revenues in 2020, compared to approximately $0.7 million in 2019 (for the period starting June 2019 since the acquisition of operations), based on the audited financial statements of the companies for such period.
Additionally, Smart Repair Pro previously announced that it intends to launch a new brand and product line on the Amazon Marketplace. In addition to its sales on Amazon Marketplace, Smart Repair Pro intends to pursue a Business-to-Consumer (B2C) business model with a direct sales channel by opening a new online store in which Smart Repair Pro's products will be available for online orders from customers world-wide.
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.