Medigus receives $1.2M payment as part of MUSE agreement in China
Medigus announced that the second installment in the amount of $1,200,000 was received in connection with the $3,000,000 agreement with Golden Grand for the use and sale of the company's Medigus Ultrasonic Surgical Endostapler system in China, Hong Kong, Taiwan and Macao. The company announced on July 2019, the receiving of the first installment, in the amount of $600,000. Golden Grand has been Medigus' distributor of its MUSE systems in China since 2015. Under the terms of the agreement, in exchange for the license, training services and any goods sold, Golden Grand will pay Medigus the consideration in four installments and until the assembly of a production line in China is completed. The MUSE system is a single-use flexible transoral stapler that merges the latest advancements in microvisual, ultrasonic and surgical stapling.