Medigas Bounces on Big Order

Medigus Ltd. (NASDAQ:MDGS) shares hiked Friday after the company announced along with A.M. Surgical, Inc., the two companies received an order worth $650,000 for 1,400 units for its integrated visualization device. It's the first "substantial commercial" order for the device.

News releases out Friday morning indicated the Tel Aviv-based Medigus will develop and manufacture an integrated visualization device based on its micro ScoutCam technology to work with Stratos, A.M.'s Surgical product for endoscopic procedures.

According to Medigus and A.M Surgical, the integrated device may have the potential of offering a higher level of surgical control and visualization during endoscopic carpal tunnel release for hundreds of thousands of procedures annually in the U.S.

"We are confident that the integration of our micro ScoutCam™ technology with the Stratos could provide surgeons with a powerful device to help their patients live with less pain," said Liron Carmel, CEO of Medigus.

The micro ScoutCam™ portfolio of products includes a range of video cameras with small diameter heads that use CMOS (complementary metal oxide semiconductor) based sensors.

These innovative cameras are suitable for both medical and industrial applications. Medigus designs and manufactures endoscopic and micro camera systems for partner companies, including major players in the medical and industrial fields. Medigus is committed to provide integrated solutions to meet its customer’s imaging needs.

Medigus shares were trading up 46 cents, or 20.4% at $3.57 mid-morning Friday. The stock has a 52-week high of $9.42 and a 52-week low of $2.11.