The announcement comes six months after the leading developer and manufacturer of the smallest video cameras in the world opened public trading
NEW YORK, NY—September 14, 2020— ScoutCam (OTCQB: SCTC), a leading developer and manufacturer of custom visual solutions and supplementary technologies, is pleased to announce they have been upgraded to the OTCQB Venture Market (OTCQB).
“We are excited about ScoutCam’s official upgrade to the OTCQB Venture Market,” said Yaron Silberman, Chief Executive Officer of ScoutCam. “This elevates ScoutCam’s profile within the investment community, and we would like to thank our shareholders for their ongoing support as we reach this milestone.”
ScoutCam is an Israeli-based company that develops and manufactures custom visual solutions for organizations across a variety of industries. Their products are highly resistant micro-cameras and supplementary technologies. The innovative company produces the smallest cameras in the world, with diameters as miniscule as 1mm. ScoutCam devices have been used across the medical, aerospace, industrial, research and defense industries. The team has also worked on collaborations with multiple, prominent government agencies.
The OTCQB Venture Market, operated by OTC Markets Group Inc., is a premier market for entrepreneurial and development stage U.S. and international companies that are committed to providing investors high-quality trading and improved market visibility to enhance trading liquidity. To be eligible, companies must be current in their financial reporting, pass a minimum bid price test and other initial listing requirements, and undergo an annual company verification and management certification process.
About ScoutCam ScoutCam is a leading provider of customized visual solutions for organizations across a variety of industries in the form of highly resistant micro cameras and supplementary technologies. ScoutCam devices are used across the medical, aerospace, industrial, research and defense industries. For more information please visit: https://www.scoutcam.com/.
David G. Stork and Patrick R. Gill - "Rambus Labs"
We describe a new class of lensless, ultra-miniature computational imagers and image sensors employing special optical phase gratings integrated with CMOS photodetector matrices.
Qualification to Allow ScoutCam to Develop and Manufacture Micro Cameras for the Healthcare Company’s Minimally Invasive Surgical Product
OMER, Israel —September 08, 2020— ScoutCam (OTC: SCTC), a leading developer and manufacturer of customized visual solutions and supplementary technologies, today announced it has been officially included on a Fortune 500 multinational healthcare corporation’s Approved Supplier List (ASL). The qualification will allow ScoutCam to develop, manufacture and supply a complete visualization solution for the global company’s minimally invasive surgical product, which incorporates ScoutCam’s single-use miniature video cameras.
“We are extremely excited not only for the recognition of our superior technology, but for the opportunity to become a long-term supplier of innovative visualization tools that has the potential to transform minimally invasive surgeries, and all under the strictest quality standards of this global leader,” said Yaron Silberman, Chief Executive Officer of ScoutCam.
The two companies initially began collaborating back in 2018 and in mid-2019, a formal audit at ScoutCam’s facilities was completed. This past May, the global standard Supplier Quality Agreement (SQA) of the customer was signed. ScoutCam provided a final quote to the healthcare corporation in May as well, which included development fees of $2.4 million to be paid per milestones in 2020-2021 and prices per ordered quantities for the supply of the final deliverables, ranging in hundreds of USD per unit. ScoutCam’s inclusion on the ASL encompasses all of its business units, in addition to the one in which ScoutCam is currently engaged.
“Now that we have officially been added to the Approved Supplier List, ScoutCam is expected to sell tens of thousands of single-use cameras annually in the next few years, which gives us the opportunity to transform minimally invasive surgeries as we know them,” Silberman continued. “Overall, we are extremely happy with the recognition, and we are proud that such partnership presents a parallel benefit to both patients and doctors alike.”
For more information on ScoutCam as well as the company’s additional developments and products, please visit: https://www.scoutcam.com/
About ScoutCam ScoutCam is a leading provider of customized visual solutions for organizations across a variety of industries in the form of highly resistant micro cameras and supplementary technologies. ScoutCam devices are used across the medical, aerospace, industrial, research and defense industries. For more information please visit: https://www.scoutcam.com/.
David G. Stork and Patrick R. Gill - "Rambus Labs"
We describe a new class of lensless, ultra-miniature computational imagers and image sensors employing special optical phase gratings integrated with CMOS photodetector matrices.
Following Acceptance of $2.4M Quote, Preeminent Visual Solutions Creator will Develop Customized Products for Medical Supplies Giant
OMER, Israel —July 24, 2020— ScoutCam (OTC: SCTC), a leading developer and manufacturer of customized visual solutions and supplementary technologies, today announced the acceptance of ScoutCam’s $2.4 million quote from a Fortune 500 multinational healthcare corporation. According to the terms of this commitment, the two companies will work together to develop a complete visualization solution that incorporates ScoutCam’s single-use miniature video cameras for a minimally invasive surgical end-user product.
Today’s announcement was preceded by the signing of a Development Strategy Agreement in November 2019, which will continue to govern the remainder of the existing engagement through mid-2021.
“Forecasts from our biotech partners show that upon successful completion of the development project, ScoutCam is expected to sell tens of thousands of single-use cameras annually in the upcoming years, which may generate tens of millions of dollars in revenue per year,” said Dr. Yaron Silberman, CEO of ScoutCam. “Overall, this is an incredible honor, and we are proud to share the advancements that may come as a result of this partnership with patients and doctors that stand to benefit from the use of the finished products.”
For more information on ScoutCam as well as the company’s additional developments and products, please visit: https://www.scoutcam.com/
David G. Stork and Patrick R. Gill - "Rambus Labs"
We describe a new class of lensless, ultra-miniature computational imagers and image sensors employing special optical phase gratings integrated with CMOS photodetector matrices.
OMER, Israel, July 18, 2019 – Medigus Ltd. (NASDAQ:MDGS) (TASE:MDGS), a technology company developing minimally invasive tools and an innovator in direct visualization technology, today announced that ScoutCam, the company’s wholly-owned subsidiary, completed its commercial sale of micro video camera based systems to a leading global group engaged in the nuclear reactors sector.
This sale follows the company’s recent announcement about its intention to expand commercialization of its micro video camera to additional sectors beyond the medical market.
ScoutCam is also negotiating the sale of its cameras to several additional key players from the nuclear reactors sector. To the best of the company knowledge, ScoutCam’s systems will be utilized at the core of the nuclear reactors, enabling the operators to possess better command and control over the reactors without the need for disabling them.
ScoutCam’s portfolio of micro video cameras includes both the micro ScoutCam™ 1.2 considered the world’s smallest video camera – and ScoutCam™ 8.0 HD. ScoutCam’s technology features optic and illumination solutions, micro sensors and high-end DSP video processors that can be tailored for both medical and industrial applications. ScoutCam 8.0 HD was selected by NASA to be incorporated into NASA’s Visual Inspection Poseable Invertebrate Robot 2 (VIPIR2). VIPIR2, a robotic, multi-capability inspection tool being used as part of NASA’s Robotic Refueling Mission 3 (RRM3), was launched into space in December 2018.
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 www.medigus.com.
David G. Stork and Patrick R. Gill - "Rambus Labs"
We describe a new class of lensless, ultra-miniature computational imagers and image sensors employing special optical phase gratings integrated with CMOS photodetector matrices.
OMER, Israel, June 12, 2020 – ScoutCam, a leading developer and manufacturer of customized visual solutions and supplementary technologies, today announced the approval of its endoscope irrigation patent in Canada. The patented technology, which has already been approved for patents in other jurisdictions, including the United States, European Union, and Japan, showcases the resistance and durability of ScoutCam’s micro-cameras as well as the Company’s ability to reduce the diameter of its devices compared with competing endoscopes/borescopes with traditional irrigation technology, further positioning ScoutCam as a leader in the medical, industrial and aeronautic/defense sectors.
The patent features ScoutCam’s micro-ScoutCam, which has been integrated into medical endoscope devices in an effort to make endoscopies less invasive and thereby contributing to the evolution of the healthcare industry. The technology covered in the patent allows adding irrigation to an endoscope without the need for an additional tube dedicated for fluids. The innovative offering saves space within the tube by unifying the water with other channels within the endoscope, which allows ScoutCam to design and manufacture an endoscope with irrigation smaller in diameter than competing devices, while using the same sensors.
“The smaller the endoscope diameter, the more pathologies it can help detect and help treat,” said Yaron Silberman, Chief Executive Officer of ScoutCam. “ScoutCam’s patented irrigation technology not only reduces the device diameter, but also increases the ability to see in various anatomical parts and can streamline the endoscopic process.”
In order to implement the patented technology, ScoutCam cameras are embedded in the space where water flows freely, further proving that the Company’s cameras are waterproof and resistant to damage in various environmental conditions. This patent-protected technology has previously been used in a therapeutic endoscope that was cleared for marketing by the U.S. Food and Drug Administration.
For more information on the micro-ScoutCam as well as the company’s additional developments, please visit: https://www.scoutcam.com/
About ScoutCam ScoutCam is a leading provider of customized visual solutions for organizations across a variety of industries in the form of highly resistant micro cameras and supplementary technologies. ScoutCam devices are used across the medical, aerospace, industrial, research and defense industries.
David G. Stork and Patrick R. Gill - "Rambus Labs"
We describe a new class of lensless, ultra-miniature computational imagers and image sensors employing special optical phase gratings integrated with CMOS photodetector matrices.
OMER, Israel, May 22, 2020 — ScoutCam (OTC: SCTC), a company developing and manufacturing customized visual solutions to organizations by offering the world’s smallest cameras and supplementary technologies, today announced a breakthrough with the successful integration of the company’s wireless micro ScoutCam into medical endoscope devices, formally introducing the healthcare industry’s first operating room-ready wireless endoscope, to the company’s knowledge.
The device, which has been cleared for marketing by the U.S. Food and Drug Administration (FDA) and meets the Federal Communications Commission requirements, was developed for a privately held orthopedic company.
We believe that the wireless endoscope product revolutionizes the endoscopy industry by implementing a single-use micro camera for medical procedures. ScoutCam’s new product includes a 1.1mm x 1.1mm complementary metal oxide semiconductor (CMOS) camera that can be disposed after a single-use; for reference, according to The National Center for Biotechnology Information (NCBI), the average endoscope used in procedures measures around 8mm x 10mm.
“The endoscopic process is a massive undertaking that frequently requires multiple instruments and cleaning procedures, and we are thrilled that our micro ScoutCam can be utilized to simplify the endoscopic process,” said Yaron Silberman, Chief Executive Officer of ScoutCam. “Not only does the wireless endoscope aid the FDA’s recent recommendation that medical facilities should transition to disposable endoscopic instruments, we also believe that it streamlines endoscopic surgeries and processes.”
The camera of the waterproof micro ScoutCam, which can also be used in orthopedics and general surgery, is smaller than a grain of rice. Other product features include:
High resolution and image quality
Close minimal focal distance of 3mm
Protection from operating room interferences
Zero latency
In minimally invasive surgeries, endoscopies are time consuming, yet critical healthcare procedures. Within the United States alone, according to iData Research11, 75 million endoscopic surgeries are conducted each year. The complicated procedure has traditionally been performed using the same medical equipment, post sterilization. The FDA only recently issued a recommendation to hospitals and other medical facilities to shift from reusable duodenoscopes to the single-use variants. The recommendation came as a result of the risk of cross-contamination between patients, and will likely drive the adoption of single-use endoscopes into other body cavities.
With the introduction of ScoutCam’s wireless, single-use endoscope, which is intended to be used in the treatment of carpal tunnel syndrome at ambulatory surgical centers, the company intends to provide a new technology to increase the efficiency of the procedure, while meeting FDA standards. According the American College of Rheumatology22, carpal tunnel syndrome affects 4 – 10 million Americans, who may be eligible for a now more seamless endoscopic surgery. ScoutCam’s devices have also been implemented into rigid, semi-flexible, steerable and flexible endoscopes.
ScoutCam is continuing its work with the privately held orthopedic company to develop a second generation wireless endoscope, which is expected to reach a wider range of orthopedic procedures.
About ScoutCam
ScoutCam is a leading provider of customized visual solutions for organizations across a variety of industries in the form of highly resistant micro cameras and supplementary technologies. ScoutCam devices are used across the medical, aerospace, industrial, research and defense industries. For more information please visit: https://www.scoutcam.com
Information set forth in this news release contains forward-looking statements that are based on the Company’s expectations, beliefs, assumptions and intentions regarding, among other things, its product-development efforts, business, financial condition, results of operations, strategies or prospects, as of the date of this news release. They are not guarantees of future performance. Forward-looking statements can be identified by the use of forward-looking words such as “believe,” “expect,” “intend,” “plan,” “may,” “should” or “anticipate” or their negatives or other variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical or current matters. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Such factors include, among other things: risks and uncertainties relating to, inter alia, the spread of COVID-19, including any resultant restrictions on our business operations and/or its negative impact on our financial condition; the Company’s reliance on third-party suppliers; market acceptance of our products by prospect markets and industries; the Company’s ability to raise sufficient funding in order to meet the Company’s business and financial goals; and certain other factors summarized in the Company’s filings with the SEC. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
David G. Stork and Patrick R. Gill - "Rambus Labs"
We describe a new class of lensless, ultra-miniature computational imagers and image sensors employing special optical phase gratings integrated with CMOS photodetector matrices.
OMER, Israel, May 19, 2020 — Medigus Ltd. (NASDAQ:MDGS) (TASE:MDGS), a technology company developing minimally invasive tools and an innovator in direct visualization technology, today announced that ScoutCam Inc. (OTC: SCTC), the Company’s subsidiary, entered into and consummated a securities purchase agreement with M. Arkin (1999) Ltd. in connection with an investment of $2,000,000.
Founder and Chairman of Arkin Holdings, Moshe “Mori” Arkin, is one of Israel’s most successful life sciences and pharmaceutical entrepreneurs. A renowned industrialist and generic drug specialist, he founded Arkin Holdings, which owns a healthcare portfolio of $1 billion through four investment arms, with holdings in some 20 Israeli companies developing pharmaceutical drugs and medical equipment, such as UroGen Pharma (Nasdaq: URGN), Keros Therapeutics (Nasdaq: KROS) and Novolog (TASE: NVLG). Mori previously grew Agis into a leading dermatological company in the U.S., which led to its acquisition by Perrigo in 2005 for $818 million.
ScoutCam develops and manufactures customized visual solutions to organizations across a variety of industries in the form of highly resistant micro cameras and supplementary technologies. With the smallest cameras produced in the world, which are down to 1mm diameter including illumination, the high resolution technology has unique properties that have been authenticated by customers, such as NASA, in the strictest environmental conditions, including extreme temperatures, vibrations, and radiation. ScoutCam devices have been used across the medical, aerospace, industrial, research and defense industries.
“We are proud to have received Mr. Mori Arkin’s vote of confidence by having him make a substantial investment in ScoutCam Inc. Mr. Arkin’s contribution will go beyond a financial investment as he requested and ScoutCam gladly accepted to appoint a director to the company’s board of directors.” said Professor Benad Goldwasser, chairman of ScoutCam’s board of directors.
Dr. Irit Yaniv, an experienced and accomplished senior executive in the Medtech industry, will join ScoutCam’s board of directors, as Mori Arkin’s representative.
As part of the agreement and in exchange for the investment of $2,000,000, ScoutCam issued to Arkin 4,132,232 shares of common stock, 2,066,116 warrants to purchase common stock at an exercise price of $0.595 and 4,132,232 warrants to purchase common stock at an exercise price of $0.893.
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 www.medigus.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 press 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. 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.
David G. Stork and Patrick R. Gill - "Rambus Labs"
We describe a new class of lensless, ultra-miniature computational imagers and image sensors employing special optical phase gratings integrated with CMOS photodetector matrices.
OMER, Israel, April 28, 2020 — Medigus Ltd. (NASDAQ:MDGS) (TASE:MDGS), a technology company developing minimally invasive tools and an innovator in direct visualization technology, today announced that ScoutCam Ltd., received a purchase order for its micro cameras from a leading fortune 500 multinational healthcare corporation, in the amount of $500,000. ScoutCam Ltd. is the wholly-owned subsidiary of ScoutCam Inc. (OTC:SCTC), which is majority owned by Medigus (Medigus owns approximately 55.9% of ScoutCam Inc’s issued shares of common stock).
ScoutCam’s camera will be used by the multinational healthcare corporation for various medical procedures which require the use of a micro camera.
ScoutCam was chosen to design and manufacture its micro cameras in the multinational healthcare corporation solutions, as a result of the high-quality resolution of the micro cameras and through previous proven success in customization, miniaturization, irrigation, air-dry and additional capabilities. ScoutCam was also chosen due to the company’s substantial experience as well as the ability to provide tailor-made environment durable solutions that can be used parallel to other surgical tools.
“We are proud to have been chosen by a leading Fortune 500 multinational healthcare corporation to design, manufacture and supply our customized visual solutions. Recently, we have witnessed a growing demand for miniaturized visual solutions and high recognition of our unique technology. Our technology provides the ability to create customized tailor-made solutions for our customers, which are spread over multiple sectors, including medical, defense, aerospace and more”, said Professor Benad Goldwasser, chairman of ScoutCam’s board of directors.
ScoutCam develops and manufactures customized visual solutions to organizations across a variety of industries in the form of highly resistant micro cameras and supplementary technologies. With the smallest cameras produced in the world, which are down to 1mm diameter including illumination, the high resolution technology has unique properties that have been authenticated by customers, such as NASA, in the strictest environmental conditions, including extreme temperatures, vibrations, and radiation. ScoutCam devices have been used across the medical, aerospace, industrial, research and defense industries. ScoutCam 8.0 HD was selected by NASA to be incorporated into NASA’s Visual Inspection Poseable Invertebrate Robot 2 (VIPIR2). VIPIR2, a robotic, multi-capability inspection tool being used as part of NASA’s Robotic Refueling Mission 3 (RRM3), was launched into space in December 2018.
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 www.medigus.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 or derived from this press release will not be achieved, such as the successful manufacture and supply of the micro cameras by ScoutCam Ltd. or delay in receipt of payments or proceeds therefor, due to inter alia the spread of COVID-19 as well as the restrictions deriving therefrom. 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. 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.
David G. Stork and Patrick R. Gill - "Rambus Labs"
We describe a new class of lensless, ultra-miniature computational imagers and image sensors employing special optical phase gratings integrated with CMOS photodetector matrices.
Intellisense Issues 60% of its Share Capital to Medigus and ScoutCam Becomes Wholly-Owned Subsidiary of Intellisense
OMER, Israel, Jan. 02, 2020 – Medigus Ltd. (NASDAQ:MDGS) (TASE:MDGS), a technology company developing minimally invasive tools and an innovator in direct visualization technology, today announced that it consummated its securities exchange agreement with Intellisense Solutions Inc. (OTC: INLL), a Nevada corporation, pursuant to which Medigus assigned, transferred and delivered to Intellisense 100% of its ownership in its wholly-owned subsidiary, ScoutCam Ltd., and in exchange Medigus received (i) common stock representing 60% of Intellisense’s issued and outstanding share capital as of the closing, and (ii) in the event ScoutCam achieves $33,000,000 in aggregate sales within the first three years immediately following the closing of the transaction, Medigus will receive additional shares of Intellisense’s common stock representing 10% of its outstanding share capital as of the date of closing. Medigus previously announced the signing of the securities exchange agreement on September 17, 2019.
Concurrent with the closing of the transaction, Intellisense secured an investment of $3.3 million based on a company post-money valuation of $13.3 million into the post-closing company of which Medigus now holds 60% on an issued and outstanding basis. The aggregate value of the shares issued to Medigus in the post-closing company is approximately $8 million.
“The closing of this transaction signifies an important milestone for both Medigus and ScoutCam,” said Professor Benad Goldwasser, outgoing chairman of the Medigus board of directors. “We look forward to ScoutCam’s continued growth following this latest influx of funding, and, as a 60% stockholder, Medigus will to enjoy the return.”
As a result of the transaction, and subject to certain pending regulatory and governmental approvals, Intellisense will change its name to “ScoutCam Inc.” and symbol to “SCTC”, and will remain quoted on the OTCQB.
In connection with the consummation of the transaction, on December 31, 2019, Professor Benad Goldwasser informed Medigus that he will be stepping down as chairman of the board of directors in order to concentrate his time and efforts on ScoutCam’s current and future business endeavors.
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 www.medigus.com.
David G. Stork and Patrick R. Gill - "Rambus Labs"
We describe a new class of lensless, ultra-miniature computational imagers and image sensors employing special optical phase gratings integrated with CMOS photodetector matrices.
