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Why Medigus's Stock Is Trading Higher Today

Medigus Ltd (NASDAQ: MDGS) shares are trading higher on Friday after the company announced it will acquire a controlling interest in Smart Repair Pro and Purex Inc.

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Medigus Ltd (NASDAQ:MDGS) shares are trading higher on Friday after the company announced it will acquire a controlling interest in Smart Repair Pro and Purex Inc.

Medigus is an Israel-based medical device company. It is engaged in the development, manufacturing, and marketing of surgical endostaplers and direct vision systems for minimally invasive medical procedures. The key product of the company is the MUSE (Medigus Ultrasonic Surgical Endostapler) system is a single-use device for the incisionless treatment of GERD (gastroesophageal reflux disease), which is based on proprietary platform technology and know-how.

The company also develops a range of micro video cameras under the micro ScoutCam portfolio of products, including the micro ScoutCam 1.2 for both medical and industrial applications. Medigus earns the majority of its revenue from the USA.

Medigus's stock traded up 10.96% at $1.52 per share at the time of publication on Friday. The stock has a 52-week high of $5.15 and a 52-week low of 83 cents.