Medigus and L1 Systems Received First Commercial Order for COVID-19 Testing Kits
OMER, Israel, May 01, 2020 (GLOBE NEWSWIRE) -- Medigus Ltd. (NASDAQ:MDGS) (TASE:MDGS), a technology company developing minimally invasive tools and an innovator in direct visualization technology, today announced that following the signing of a collaboration agreement with L-1 Systems Ltd. for the joint commercialization of various COVID-19 related products and solutions to governmental agencies and institutional healthcare organizations, the companies received its first commercial order for COVID-19 serological test kits.
The purchase order was received from a Mexican company which engages in the distribution of medical equipment to various medical centers in Mexico. Prior to placing the order, the Mexican company performed an examination of the testing kits, and following the examination, placed an order for 10,000 testing kits with a total order value of tens of thousands of dollars.
L-1 Systems maintains close relationship with a Chinese partner with several approved factories as well as additional manufactures of the COVID-19 serological testing kits. Medigus and L1 Systems intend to broaden their commercial efforts and order pipeline as well as expand their product portfolio such as to include ventilators and life support machines.
The agreement between Medigus and L1 Systems provides for joint marketing of the products and the opportunity to provide working capital financing. Medigus shall be entitled to proceeds from sales based on a profit share model based on the scope of financing provided by Medigus, 50% of the profits in the case Medigus introduces the products, and in all other cases, of 5% of the profits.
About Medigus
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
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Tatiana Yosef
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