Engaged in advancing innovative solutions for large-scale market applications
OMER, Israel, Oct. 19, 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 Australia. Following Amazon’s approval, Smart Repair Pro is preparing to launch its brands for the first time in the Australian market. Smart Repair Pro has already received Amazon’s approval to launch in 5 leading countries in Europe and operates in the U.S. today.
Medigus recently announced it has entered 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 and is expected to close in coming week.
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 Ltd. is a technology-based company engaged in advancing innovative solutions for large-scale market applications. To learn more about Medigus’ advanced technology, please visit www.medigus.com.