Medigus Raises Approximately $7M from U.S and Israeli Investors

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OMER, Israel, Oct. 22, 2013 (GLOBE NEWSWIRE) -- Medigus (MDGS.TA), a medical equipment company focused on the development and marketing of endoscopy-based surgical procedures, announced today that it completed a public issuance of shares and options on Thursday, October 17, 2013, in the total amount of NIS 24.8 million, approximately $7 million.

The issuance of approximately 34.5 million shares at NIS 0.72 per share, was pursuant to a shelf prospectus. The shares constitute approximately 21% of the present voting rights in the company, together with approximately 17.3 million options with an exercise price of NIS 1.08 and a 3-year duration.

OrbiMed Israel as well as U.S based investment funds took part in the offering. Proceeds from the capital raise are intended to expedite Medigus' penetration to the U.S and Europe and to support enrollment of new patients into new and existing medical centers.

About Medigus Ltd.

Medigus (MDGS.TA) is a medical device company headquartered in Omer, Israel, specializing in developing innovative endoscopic procedures and devices. Medigus is a pioneer developer of a unique proprietary endoscopic device for the treatment of GERD, one of the most common chronic diseases in the western world.

Medigus has an advanced technology platform that includes all necessary elements for performing a wide range of endoscopic procedures. The platform includes various types of rigid, semi-flexible and flexible video endoscopes, as well as respective endoscopy suites.

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CONTACT: Miri Segal-Scharia Hayden/ MS-IR LLC Tel: +1-917-607-8654 Media: Jules Abraham JQA Partners, LLC Tel: 917-885-7378

Source:Medigus Ltd.