OMER, Israel, March 22, 2018 (GLOBE NEWSWIRE) -- Medigus Ltd. (“Medigus” or the “Company”) (NASDAQ:MDGS) (TASE:MDGS), a medical device company developing minimally invasive endosurgical tools and an innovator in direct visualization technology, today announced financial results for the fourth quarter and fiscal year ended December 31, 2017.
“We are eager to enter 2018 leveraging the foundational, operational and financial learnings from 2017, which were important takeaways for shaping future balance and growth,” said Chris Rowland, CEO of Medigus.
2017 Highlights include:
Financial highlights for the fourth quarter ended December 31, 2017:
Financial highlights for fiscal year ended December 31, 2017:
For full fiscal year 2017 financial results, please visit: http://www.medigus.com/investor-relations/financial-reports.
Medigus Annual Report
The Company’s annual report on Form 20-F, containing audited consolidated financial statements for the year ended December 31, 2017 was filed with the Securities and Exchange Commission on March 22, 2018. The report is available through the Securities and Exchange Commission’s website (http://www.sec.gov) as well as via the Medigus website (http://www.medigus.com). Shareholders may receive a hard copy of the annual report free of charge upon request to the Company.
The Company is a medical device company specializing in developing minimally invasive endosurgical tools and highly innovative imaging solutions. The Company is the developer of the MUSE™ system, an FDA cleared and CE marked endoscopic device to perform Transoral Fundoplication (TF) for the treatment of GERD (gastroesophageal reflux disease), one of the most common chronic conditions in the world. In 2016, the CMS established the Category I CPT® Code of 43210 for TF procedures, such as the ones performed with MUSE, which establishes reimbursement values for physicians and hospitals. MUSE is gaining adoption in key markets around the world – it is available in world-leading healthcare institutions in the U.S., Europe and Israel. Medigus is also in the process of obtaining regulatory clearance in China. Medigus is traded on the Nasdaq Capital Market and the TASE (Tel-Aviv Stock Exchange). To learn more about the Company’s advanced technology, please visit www.medigus.com or www.RefluxHelp.com.
This press release may contain statements that are “Forward-Looking Statements,” which are based upon the current estimates, assumptions and expectations of the Company’s management and its knowledge of the relevant market. The Company has tried, where possible, to identify such information and statements by using words such as “anticipate,” “believe,” “envision,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” “contemplate” and other similar expressions and derivations thereof in connection with any discussion of future events, trends or prospects or future operating or financial performance, although not all forward-looking statements contain these identifying words. These forward-looking statements represent Medigus’ expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. By their nature, Forward-Looking Statements involve known and unknown risks, uncertainties and other factors which may cause future results of the Company’s activity to differ significantly from the content and implications of such statements. Other risk factors affecting the company are discussed in detail in the Company's filings with the Securities and Exchange Commission. Forward-Looking Statements are pertinent only as of the date on which they are made, and the company undertakes no obligation to update or revise any Forward-Looking Statements, whether as a result of new information, future developments or otherwise. Neither the company nor its shareholders, officers and employees, shall be liable for any action and the results of any action taken by any person based on the information contained herein, including without limitation the purchase or sale of company securities. Nothing in this press release should be deemed to be medical or other advice of any kind.