Medigus Appoints Industry Veteran Eitan Machover to Board of Directors and Audit Committee
September 29 2016 - 7:00AM
Medigus Ltd. (NASDAQ:MDGS) (TASE:MDGS), a medical device company
developing minimally invasive endosurgical tools and a leader in
direct visualization technology, today announced the appointment of
Mr. Eitan Machover to the company’s Board of Directors, effective
September 29, 2016. An established operational leader, Mr. Machover
also joins Medigus’ audit committee, which consists of three
independent directors, thereby complying with Nasdaq’s audit
committee requirement as set forth in Nasdaq Listing Rule 5605.
“We are pleased to welcome Mr. Machover to our
leadership team, and believe that Medigus will benefit from his
vast experience working with innovative medical companies in the
U.S. and Israel,” said Chris Rowland, CEO of Medigus.
Mr. Machover has more than 30 years of
leadership experience in healthcare, having held various business
development and M&A positions at GE Capital in the U.S., Europe
and Asia. He headed business development activities at GE
Healthcare in Europe, where he oversaw large-scale acquisitions. In
addition, he led integrations into GE’s Israeli operations and was
later named the National Executive for General Electric Israel,
overseeing all of GE’s activities in the country.
Since then, Mr. Machover co-established MediTech
Advisors, where he managed two U.S. based medical device venture
funds, and also served as CEO of Wellsense, Inc. a U.S. medical
device company. Currently, he is the principal and owner of EM
Advisory Service, Ltd. an Israel-based executive search firm.
“I am thrilled to become a part of this exciting
company, which has high potential for growth in several key markets
around the world,” said Mr. Machover. “I look forward to working
with the executive team to establish the MUSE system as a standard
of care for minimally-invasive treatments for GERD.”
Mr. Machover holds a BS in Business Communications
from Emerson College and an MBA from Boston College.
About MedigusMedigus is a medical device company
specializing in developing minimally invasive endosurgical tools
and highly innovative imaging solutions. They are the pioneer
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 news
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. Among the factors which may cause the actual results to
differ from the Forward-Looking Statements are changes in the
target market and the introduction of competitive products, our
ability to secure favorable reimbursement rates, regulatory,
legislative and policy changes, and clinical results. 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.
INVESTOR RELATIONS (U.S.):
David Carey
Lazar Partners Ltd.
212-867-1768
dcarey@lazarpartners.com
INVESTOR RELATIONS (Israel):
Iris Lubitch/ Noam Yellin
SmarTeam
972-3-6954333
Iris@Smartteam.co.il
Noam@Smartteam.co.il
MEDIA CONTACT:
Chantal Beaudry/ Carrie Yamond
Lazar Partners Ltd.
212-867-1762
cbeaudry@lazarpartners.com
cyamond@lazarpartners.com
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