MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

Home » Acid reflux: Medigus raises $11M from U.S. and Israeli groups

Acid reflux: Medigus raises $11M from U.S. and Israeli groups

By

Medigus raises $111M from U.S. and Israeli groups

Israel-based device maker Medigus (TLV:MDGS) touted the successful closure of an $11.1 million private placement funding round, noting backers from home as well as from the U.S.

The funding was split about evenly between investors from Israel and those overseas and the new cash will help pay for general corporate activities, Medigus said.

"We are pleased to announce the signing of these investments with leading institutional investors from Israel and the U.S., including funds that specialize in healthcare," CEO Chris Rowland said in prepared remarks. "These investments reflect the confidence of investors in our strategy and vision. Increasing our capital base will support our strategic plan of expanding the use of our MUSE system, and will enhance our position as a leader in the minimally invasive endosurgical market, with the ultimate goal of enhancing shareholder value."

Israeli backers involved in the new round were led by Migdal Insurance Group, Medigus said. The remaining funding came from U.S institutional investors Sabby Management, Armistice Capital and Senvest. Returning investors include Orbimed, Medigus’ controlling shareholder.

The company expects to start tallying revenue this year for its FDA-cleared MUSE system for treating acid reflux. Medigus in March touted FDA clearance for its next-gen MUSE technology, indicated for minimally invasive treatment of acid reflux disease.

Medigus has been on a roll, landing its original FDA win in May 2012 and touting 2 funding rounds worth a collective $15 million last year.

In case you missed it

RSS From Medical Design & Outsourcing

  • Machine Bio wins first BioTools Innovator competition
    The new BioTools Innovator accelerator program awarded its first $200,000 grand prize to Machine Bio after a live vote last week. Claremont, California-based startup Machine Bio was founded by David Marash, who serves as CEO.  “Machine Bio’s mission is to develop and commercialize a transformative protein expression platform that drastically minimizes the process of making… […]
  • Hologic CEO Steve MacMillan salutes CFO Karleen Oberton, offers his outlook and talks M&A
    After interviewing Hologic CFO Karleen Oberton for Medical Design & Outsourcing‘s annual Women in Medtech issue, we connected with CEO Steve MacMillan to get his take. He offered praise for his finance chief’s leadership throughout the pandemic, shared his outlook for the Marlborough, Massachusetts–based company’s future and discussed the M&A strategy for Hologic (NSDQ:HOLX), which… […]
  • Forecasting the future of urology with Boston Scientific’s Meghan Scanlon
    Meghan Scanlon, Boston Scientific’s president of urology and pelvic health, discusses the field and the challenges and opportunities ahead. The urology specialty faces a critical moment, with 10 urologists ready to retire for every new urologist entering the field, said Meghan Scanlon, SVP and president of urology and pelvic health at Boston Scientific (NYSE:BSX) That… […]
  • Women researchers receive a fraction of funding from the world’s biggest medtech companies
    The gender divide in medtech extends beyond leadership and into funding for investigational studies by U.S. physicians. Only 6.7% of physicians who received research payments from the world’s largest medical device companies in 2020 were women, according to an analysis of Medical Design & Outsourcing’s Big 100 list of medtech companies and CMS Open Payments… […]
  • Pentax Medical expands Vizient contract to include pediatric endoscopes
    Pentax Medical today announced it has expanded its contract with Vizient to include pediatric endoscopes. The contract will give Pentax Medical the ability to offer endoscopes to Vizient member hospitals through the Vizient Pediatric Program. The agreement also includes other value-added offerings, education opportunities and best practices. Get the full story on our sister site,… […]
  • Hologic plans to buy Bolder Surgical for $160M
    Hologic Inc. (NSDQ:HOLX) has a $160 million deal to acquire Bolder Surgical, a developer and manufacturer of advanced energy vessel sealing surgical devices. It’s the latest deal by Hologic, which has been spending COVID-19 test revenue generated by its diagnostics business on acquisitions across the company’s business lines, as CFO Karleen Oberton and CEO Steve MacMillan… […]
  • Koya Medical reports positive early results in Dayspring lymphedema trial
    Koya Medical this week announced positive results from a small, ongoing trial comparing its Dayspring compression treatment for lymphedema to a traditional pneumatic compression pump. The Oakland, California-based company secured FDA 510(k) clearance for the device last month, saying it was the first such approval for an active compression treatment enabling movement and mobility with… […]
  • OneProjects raises $17M to advance 4D cardiac imaging
    Irish-German cardiac imaging startup OneProjects today announced $8 million in Series A2 funding and two grants totaling $9 million. The company will use the new funds to complete product development, conduct clinical trials, gain FDA clearance and prepare for U.S. commercialization of the first product developed from its proprietary 4D cardiac imaging platform, Verafeye. The… […]
  • Women in Medtech 2021: Lindsay Fleming, Avient Corp. Commercial Manager, Healthcare — Color & Additives
    Lindsay Fleming is the Healthcare Commercial Manager for the Color & Additives division at Avient Corporation, a premier provider of specialty polymer formulations, color and additive systems, packaging solutions, and polymer distribution. She has been with the company for over 7 years and oversees the commercial growth development of the healthcare segment. She focuses on… […]
  • Women in Medtech 2021: Sarah Ehrlich, Argon Medical Devices Sustaining Mechanical Engineer
    Sarah Ehrlich, sustaining mechanical engineer at Argon Medical Devices, holds a B.S in mechanical engineering from the University of Texas at Tyler. “My parents knew I would become an engineer before I did,” she said. “Growing up, I was the big sister who put back together whatever my younger siblings decided to tear apart. I… […]
  • Four questions with AdvaMed’s Jen Brearey
    Jen Brearey is AdvaMed’s chief financial officer and chief operating officer, as well as executive director for the association’s inclusion diversity programs, which includes the industry initiative AdvaMed Advance and AdvaMed’s Women’s Executive Network. Ahead of our annual Women in Medtech edition of Medical Design & Outsourcing, we asked Brearey to share her expertise on gender… […]

Leave a Reply