Medigus has developed an disposable endoscope for the treatment of GERD.
Medigus Ltd. (TASE:MDGS) shareholder Dexxon Technologies (2005) Ltd. has offered to buy an 8.7% stake in the company for NIS 7.5 million. Dexxon said that it would buy up to five million shares in the company in two blocks at NIS 1.50 per share.
Dexxon will also receive an option to buy, at its discretion, an additional 2.5 million shares, amounting to 4.4% of Medigus, for NIS 3.75 million. The option is valid through October 2009. Dexxon is wholly owned by Dan Oren.
Medigus has developed an disposable endoscope for the treatment of gastro-esophageal reflux disease (GERD). The company is based in industrial park in the Negev town of Omer. The share rose 3% by mid-afternoon on the TASE to NIS 0.85.
Published by Globes [online], Israel business news - www.globes-online.com - on December 25, 2008
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