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ScoutCam Completes Verification & Validation for Miniature Camera Solution with Fortune 500 Customer

Tel Aviv, Israel, June 07, 2022 (GLOBE NEWSWIRE) — 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”), a leading provider of image-based solutions (including cloud and AI image processing) to the condition-based maintenance (CBM) and the predictive maintenance (PdM) markets, of which Medigus has a 27.02% percent ownership stake, has completed the verification and validation (V&V) stage of ScoutCam’s miniature camera solution with a Fortune 500 company.

The announcement comes as ScoutCam prepares to commence mass production and enter the supply stage of its proprietary, patented equipment for delivery to the Fortune 500 customer. With this important V&V phase complete, ScoutCam believes sales revenue could reach tens of millions of dollars as ongoing supply agreements with the customer accumulate in the coming years.