Privately owned investment company Pure Capital Ltd. this morning announced that it has completed the acquisition of 217,696 ADRs of Medigus Ltd. (NASDAQ: MDGS), increasing its ownership stake in the medical device company to more than five percent. Following the acquisition and in accordance with Israeli regulations, Pure Capital sent a letter to Medigus’ CEO, chairman and directors calling for an immediate general assembly meeting of MDGS shareholders, as well as the dismissal of its internal board members. According to the Israeli GCL, the meeting must take place no later than 21 business days from the date of the letter of demand. Per the update, the board replacement nominees, led by Medinol Ltd. co-founder Benad Goldwasser, have been carefully vetted and were selected following a thorough due diligence process. Pure Capital noted in the release that it is “committed to fully replacing the internal members of the board of directors and substantially enhancing shareholder value in the process.”
To view the full press release, visit http://nnw.fm/1LlWZ
About Pure Capital Ltd.
Pure Capital is a privately owned investment company. Over the last two years, the firm has led various transactions and capital raises totaling over $200 million in the U.S, Canada and Israel.
Medigus 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 Ltd.). To learn more visit www.Medigus.com or www.RefluxHelp.com
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