Shares of Medigus (NASDAQ: MDGS) gained 25% pre-market, currently up 9%, after the medical device company announced the completion of the first MUSE procedure in China. The procedure was performed by Professor Rong Wan, Department of Gastroenterology, Shanghai First People’s Hospital, School of Medicine, Shanghai Jiao Tong University. Professor Wan reported that the procedure was successful with the patient encountering minimal discomfort. The MUSE system is a single-use flexible transoral stapler that enables a single physician to perform an incisionless transoral fundoplication, the procedure intended to treat the anatomical cause of gastroesophageal reflux disease (GERD). “With the completion of our first-in-man MUSE procedure in China we are looking forward to working with leading GIs across the country to implement this procedure and uniquely address the existing gap in GERD treatment between drug therapy and invasive laparoscopic procedures,” CEO Chris Rowland stated in the news release.
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About Medigus
Medigus is a medical device company specializing in developing minimally invasive endosurgical tools and highly innovative imaging solutions. The company is 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. To learn more about the company’s advanced technology, please visit www.medigus.com.
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