Technology-based Company.
Engaged in advancing innovative solutions for large-scale market applications
- January 30, 2023
Tel Aviv, Israel, Jan. 30, 2023 – Medigus Ltd. (Nasdaq: MDGS) (“Medigus”), a technology company engaged in advanced medical solutions, innovative internet technologies and electric vehicle (“EV”) and charging solutions, today announced that ScoutCam Inc. (OTCQB: SCTC) (“ScoutCam”, owned 27% by Medigus), a leading provider of Predictive Maintenance (PdM) and Condition Based Monitoring (CBM) solutions, has received an order from a leading US-based, orthopedic, healthcare corporation to leverage ScoutCam’s proven video technologies and products into a first-of-its-kind, FDA cleared, minimally invasive surgical device.
Total revenues from miniature camera solution sales to this Fortune 500 customer are expected to amount to $2.5 million in 2023 and additional multiples of this amount in years to come.
“We are thrilled to partner with a like-minded company that brings ongoing innovations to deliver the highest quality medical device systems to patients worldwide”, said Yehu Ofer, CEO of ScoutCam. “The system, which utilizes ScoutCam’s micro video-based sensors, enables an expanded visibility that is vital to increase safety, lower downtime and provide insights to enhance surgical performance. This advanced visualization experience operates digitally and can reduce the requirement for a microscope to allow for a view of the surgical site. This top-notch medical device system has the capability to change orthopedic surgeries.”
About ScoutCam
ScoutCam is pioneering the Predictive Maintenance (PdM) and Condition Based Monitoring (CBM) markets with its visualization and AI platform. Providing video sensor-based solutions for critical systems in the aviation, transportation, and energy industries, ScoutCam leverages proven visual technologies and products from the medical industry. ScoutCam’s unique video-based sensors, embedded software, and AI algorithms are being deployed in hard-to-reach locations and harsh environments across a variety of PdM and CBM use cases. ScoutCam’s platform allows maintenance and operations teams visibility into areas which are inaccessible under normal operation, or where the operating ambience is not suitable for continuous real-time monitoring.