Medigus Ltd [NASDAQ: MDGS] was in a breakout yesterday after the company announced an Amazon-related deal. The company that deals with advanced medical solutions as well as innovative internet technologies, announced that it has received Amazon’s approval to operate on the e-commerce giant’s platform. Medigus received this good news through a letter from Smart Repair Pro, Inc, a data driven e-commerce Company on which Medigus will be operating. Amazon said that Medigus has completed all the required regulatory processes and can now open its online store in five leading countries in Europe. These countries are the United Kingdom, Germany, Spain, France, and Italy. This will be the first time Smart Repair will be launching its brands in the European Union and the UK.
Medigus just joined the e-commerce industry after signing business agreements with Smart repair Pro, Inc. And Purex, Inc. The medical company signed a definitive agreement that allows Medicus to acquire controlling interests of about 50.01% of both the issued and outstanding share capital in both companies. According to the agreement, closing transactions will be subject to customary conditions.
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Medigus enters the e-commerce business with two established and experienced companies. Smart Repair Pro and Purex have established themselves in the Amazon market place. The two companies manage three popular brands in the marketplace. Their financial reports handed over to Medigus indicate this success. According to these reports, the two companies have impressive revenues as well as returns. Their target for the year 2020 in revenue is $3 million, out of which they expect to generate about 35% profit.
With the increased potential for revenue growth, this stock is likely to keep gaining in value to reflect the improved fundamentals.
Medigus is a technology company with interests in medical solutions and innovative internet technologies. It specializes in the manufacture of minimally invasive endosurgical tools and imaging solutions for industrial and medical applications. The company was the first to develop the Medigus Ultrasonic Surgical Endostapler (MUSE) that is used to treat gastroesophageal reflux disease. In addition to this, Medigus has developed micro cameras suitable for industrial, aerospace, defense, and medical applications. The cameras are customizable to be used in a variety of applications. The company manufactures endoscopy and micro cameras for some of the biggest industrial and medical companies around the globe.
Medigus is a publicly-traded company. It is listed on the Nasdaq Capital Market in the U.S. as well as the Tel Aviv Stock Exchange (TASE) in Israel. Investors can focus on the company’s growth now that it has joined the largest e-commerce marketplace in the world.