– ISRAEL, Omer – 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.
“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.
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, 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.
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