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Tel Aviv, Israel, June 28, 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, announced today that ScoutCam Inc. (OTCQB: SCTC) (“ScoutCam”, owned 27% by Medigus), a leading provider of visualization and AI based solutions to the Condition Based Monitoring (CBM) and the Predictive Maintenance (PdM) markets, announced today a Joint Development Agreement (JDA) with a global leading defense and aviation company.
According to the JDA, the defense and aviation company will utilize ScoutCam’s proprietary visualization technology for in-flight monitoring of various components of its fleet of aerial vehicles, as well as serve as a replacement for manual pre-and post-flight visualization inspections of the aerial platforms.
The multi-year partnership established by the JDA combines various technical aspects of the relationship between ScoutCam and the customer and ensures future supply of ScoutCam’s monitoring solutions to the aerial vehicles.
ScoutCam is pioneering the Predictive Maintenance and Condition Based Monitoring markets with its visualization and AI platform. Spearheading the use of its visualization and AI platform in Industry 4.0 markets such as aviation, energy, mobility and transportation, ScoutCam’s camera-as-a-sensor™ technology, accompanied by specially trained AI models, is being deployed in hard to reach locations and harsh environments, across a variety of Predictive Maintenance and Condition Based Monitoring use cases. ScoutCam’s platform allows maintenance and operations teams visibility into areas which are inaccessible under normal operation, or where the operating environment is not suitable for continuous real-time monitoring.