Israel-based medical device company Medigus Ltd. is selling its subsidiary, ScoutCam Ltd., to Intellisense Solutions Inc. in exchange for common stock.
Under the terms of the deal, Medigus will receive 60% of Intellisense's outstanding share capital, immediately upon closing of the agreement. Medigus will also be eligible to receive additional common shares of Intellisense, an Israeli private investment company, based on certain sales milestones.
ScoutCam is a private medical device company that designs and manufactures endoscopy and microcamera systems for partner companies.
