Medigus, a pioneer developer of minimally invasive endo-surgical tools and an innovator in direct visualization technology, today announced the signing of a £2,360,000 agreement with Golden Grand for the know-how licensing and sale of goods for Medigus Ultrasonic Surgical Endostapler (MUSE) system in China, Hong Kong, Taiwan and Macao.
Golden Grand (Shanghai Golden Grand-Medical Instruments Ltd.) has been Medigus’s distributor of the Ultrasonic Surgical Endostapler (MUSE) systems in China since 2015.
Under the terms of the agreement, for the license, training services and goods sold, Golden Grand will pay Medigus the consideration in four installments until the assembly of a production line in China is completed.
The company is acting to further commercialize and engage in additional similar MUSE licensing and sale agreements in additional territories.
The MUSE system is a single-use flexible transoral stapler that merges the latest advancements in microvisual, ultrasonic and surgical stapling. The device comes equipped with an ultrasonic sight and range finder and a micro ScoutCam CMOS camera, which enables a single physician to perform an incisionless transoral fundoplication — the procedure intended to treat the anatomical cause of gastroesophageal reflux disease (GERD).
Source: Company Press Release.