Medigus Ltd. (Medigus), a developer of endoscopic procedures and devices, has signed a memorandum of understanding (MOU) with a US medical device firm to provide the miniature medical video cameras and control systems that it develops. As per agreement, Medigus will supply 25 cameras and three control systems to US firm, which was not named. The US firm will pay Medigus $217,000 for the equipment, most of the sum immediately.
The MOU also states that the parties will conduct negotiations for a larger, long-term licensing agreement in the medical field for the supply of cameras for a number of years. Medigus said that it was unable to calculate approximately the likelihood of the negotiations succeeding for a long-term agreement.