Medigus Broadens Availability of MUSE™ Through Distribution Agreement with MELEKIRMAK in Turkey, Azerbaijan and Georgia
OMER, Israel, May 14, 2018 – Medigus Ltd. (NASDAQ: MDGS) (TASE: MDGS), a medical device company developing minimally invasive endosurgical tools and an innovator in direct visualization technology, today announced a distribution agreement in Turkey, Azerbaijan and Georgia with MELEKIRMAK (MELEKIRMAK SAĞLIK ÜRÜNLERİ TAŞIMACILIK GIDA TEKSTİL SANAYİ VE TİCARET LİMİTED ŞİRKETİ), a distributor of minimally invasive medical devices. The commercialization agreement took effect May 1, 2018, requiring MELEKIRMAK to purchase a minimum of approximately EUR 1 million of Medigus Ultrasonic Surgical Endostapler (MUSE™) equipment over the course of the five-year agreement.
“The addition of MUSE™ to our product portfolio allows us to meet the preferences of both patients and physicians by offering a more cost-effective and minimally invasive option for treating GERD” said Ozan Akin, President, MELEKIRMAK. “MUSE™ addresses an unmet need in long-term treatment for GERD by addressing its root cause, making it a very valuable extension to our offerings.”
“Similar to the profile of GERD in other Western populations, its prevalence in Turkey is comparable – upward of 23% , with higher risks for females and older individuals,” said Chris Rowland, Chief Executive Officer of Medigus. “We are excited to provide a treatment solution to this addressable market that may be more attractive than surgery or lifelong medication for patients suffering from GERD.”
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.