Motus GI Overview
Motus GI is a medical technology company dedicated to improving endoscopy outcomes and experiences. The company is currently focused on bringing to market the Pure-Vu System, which is designed to improve the colonoscopy experience and assist in the early detection and prevention of colorectal cancer and other diseases of the rectum and colon. The Pure-Vu System has the potential to improve the colonoscopy experience for physicians, patients, and payers by diminishing the dependence on preprocedural preparations, thereby enhancing the quality and cost effectiveness of the exam. The Pure-Vu System is a 510(k) U.S. FDA-cleared medical device indicated for cleaning a poorly prepped colon during the colonoscopy procedure, thus decreasing the dependence on preprocedural prep regimens to achieve a thorough colonoscopy. The device fits over most standard colonoscopes, allowing the physician to clean poorly prepped colons in a safe and effective manner to gain clear visualization of the colon mucosa. The Pure-Vu System has received CE mark approval in Europe and FDA clearance to market Pure-Vu Slim Sleeve, a compatible extension to the Pure-Vu System for slim colonoscopies. In 2020, the company received AMAR approval in Israel and CE mark approval for its Gen2 Pure-Vu System.
Cumulative Funding Raised Over Time ($)
$30.0MFeb 2017
$42.0MJul 2021
$45.5MMay 2023
$59.0MSep 2011
Latest News
growth-positive
Motus GI Reports First Quarter 2024 Financial Results and Provides Corporate Update
Motus GI Holdings, Inc. has reported its financial results for Q1 2024, revealing a successful limited U.S. commercial launch of the Pure-Vu® EVS Gastro and Gen 4 Colon system. The company has doubled its active customer base and appointed an investment bank to identify strategic alternatives to accelerate the commercialization of the Pure-Vu System. The companys revenue for Q1 2024 was $64,000, compared to $56,000 for the same period last year. The net loss attributable to common shareholders was $7.6 million, compared to a net loss of $4.4 million for the same period last year.
CustomersPartnersManagement Changes
growth-positive
Motus GI Reports Fourth Quarter and Full Year 2023 Financial Results and Provides Corporate Update
Motus GI Holdings, Inc. has reported its financial results for the fourth quarter and year ended December 31, 2023, and provided a corporate update. The company has initiated a limited U.S. commercial launch of the Pure-Vu® EVS Gastro and Gen 4 Colon system, and is seeking strategic partnerships to accelerate commercialization of the Pure-Vu System. The company has also received an infusion of $2.7M in gross proceeds from the exercise of certain outstanding warrants, extending its cash runway into the fourth quarter of 2024. The company reported a revenue of $64,000 for the fourth quarter 2023, compared to $109,000 for the same period last year.
InvestmentPartnersCustomers
growth-positive
Motus GI Holdings, Inc. Announces Exercise of Warrants for $2.7 Million Gross Proceeds
Motus GI Holdings, Inc. has announced a definitive agreement for the immediate exercise of an outstanding Series B common stock purchase warrant held by an institutional investor. The exercise will result in the purchase of 2,933,334 shares of the companys common stock, generating gross proceeds of approximately $2.7 million. The company plans to use the net proceeds for working capital and general corporate purposes. The transaction is expected to close by February 26, 2024.
Investment
growth-positive
Motus GI Holdings Granted a U.S. Patent for a Key Feature Embodied by the Pure-Vu® System to Avoid Clogging in Cleansing the GI Tract
Motus GI Holdings, Inc., a medical technology company, has been granted a new patent by the United States Patent and Trademark Office (USPTO). The patent, titled Colon Cleaning System with Automatic Self-Purging Feature, covers the automated management of pressure for irrigation and self-purging feature of the latest generation of the Pure-Vu system. The system is designed to improve endoscopic outcomes and experiences. The new patent is expected to further strengthen the companys intellectual property portfolio in the U.S.
Investment
Neutral
Motus GI Holdings, Inc. Announces Adjournment of the February 16, 2024 Special Meeting of Stockholders
Motus GI Holdings, Inc. has announced that its special meeting of stockholders, which was held on February 16, 2024, was adjourned without conducting any business. The meeting was adjourned to provide stockholders additional time to vote on a proposal described in the companys definitive proxy statement. The adjourned meeting will reconvene on March 7, 2024. The companys board of directors believes that the stockholders approval of the proposal is in the best interests of the company and its stockholders.
Management Changes
| Sector | Health Tech & Life Sciences |
Funding
| Total funding | $64.5M |
| Last funding | $3.5M |
| Stage | Public |
| Rounds | 5 |
| Investors | 9 |
Team Members
5
Employees: 11-50
Web & Social Links
| Website | www.motusgi.com |
| Careers | Careers page |
Locations
Keren HaYesod 22, Tirat Carmel, Israel
1301 E Broward Blvd, Fort Lauderdale, FL, USA
Photos & Videos
4 item(s)
Motus GI Business
Business models
B2B
Product stage
Released
Employees
11-50
Sector
Health Tech & Life SciencesMedical DevicesDiagnostics DevicesTarget Customer
Healthcare & Life SciencesHealthcareProvidersCore Technology
SensingTags (12)
medical-devicescolonoscopygastroenterologycancerhealthcare-providersdiagnosticsearly-detectiondoctorshospitalssensorsmedical-technologiesendoscopyGeographic Markets
United StatesEuropeChinaJapanMotus GI Financials
$64.5M
Total funding
Undisclosed
Capital raised
$3.5M
Last funding
Public
Funding stage
5
Total rounds
9
Investors
Cumulative Funding Raised Over Time ($)
$30.0MFeb 2017
$42.0MJul 2021
$45.5MMay 2023
$59.0MSep 2011
Private Equity Funding
PIPE
May 2023
$3.5M
Undisclosed Investor(s)
Debt Financing
Jul 2021
$12M
Kreos Capital (Lead)
Undisclosed Round
Feb 2017
$30M
Ascent Biomedical Ventures, Perceptive Advisors, Pura Vida Investments, Jacobs Investment Company, Orchestra Medical Ventures, SternAegis Ventures, GJG Life Sciences
A Round
Sep 2011
$13.5M
Undisclosed Investor(s)
Public Offering / Exit
POEvent
Feb 2018
Undisclosed
Motus GI Lifecycle
Cumulative Funding Raised Over Time
$30.0MFeb 2017
$42.0MJul 2021
$45.5MMay 2023
$59.0MSep 2011
All Events
PIPE
May 2023
$3.5M
Undisclosed Investor(s)
Debt Financing
Jul 2021
$12M
Kreos Capital (Lead)
Undisclosed Round
Feb 2017
$30M
Ascent Biomedical Ventures, Perceptive Advisors, Pura Vida Investments, Jacobs Investment Company, Orchestra Medical Ventures, SternAegis Ventures, GJG Life Sciences
A Round
Sep 2011
$13.5M
Undisclosed Investor(s)
POEvent
Feb 2018
Undisclosed
Motus GI News
104 articles
growth-positive
Motus GI Reports First Quarter 2024 Financial Results and Provides Corporate Update
Motus GI Holdings, Inc. has reported its financial results for Q1 2024, revealing a successful limited U.S. commercial launch of the Pure-Vu® EVS Gastro and Gen 4 Colon system. The company has doubled its active customer base and appointed an investment bank to identify strategic alternatives to accelerate the commercialization of the Pure-Vu System. The companys revenue for Q1 2024 was $64,000, compared to $56,000 for the same period last year. The net loss attributable to common shareholders was $7.6 million, compared to a net loss of $4.4 million for the same period last year.
CustomersPartnersManagement Changes
growth-positive
Motus GI Reports Fourth Quarter and Full Year 2023 Financial Results and Provides Corporate Update
Motus GI Holdings, Inc. has reported its financial results for the fourth quarter and year ended December 31, 2023, and provided a corporate update. The company has initiated a limited U.S. commercial launch of the Pure-Vu® EVS Gastro and Gen 4 Colon system, and is seeking strategic partnerships to accelerate commercialization of the Pure-Vu System. The company has also received an infusion of $2.7M in gross proceeds from the exercise of certain outstanding warrants, extending its cash runway into the fourth quarter of 2024. The company reported a revenue of $64,000 for the fourth quarter 2023, compared to $109,000 for the same period last year.
InvestmentPartnersCustomers
growth-positive
Motus GI Holdings, Inc. Announces Exercise of Warrants for $2.7 Million Gross Proceeds
Motus GI Holdings, Inc. has announced a definitive agreement for the immediate exercise of an outstanding Series B common stock purchase warrant held by an institutional investor. The exercise will result in the purchase of 2,933,334 shares of the companys common stock, generating gross proceeds of approximately $2.7 million. The company plans to use the net proceeds for working capital and general corporate purposes. The transaction is expected to close by February 26, 2024.
Investment
growth-positive
Motus GI Holdings Granted a U.S. Patent for a Key Feature Embodied by the Pure-Vu® System to Avoid Clogging in Cleansing the GI Tract
Motus GI Holdings, Inc., a medical technology company, has been granted a new patent by the United States Patent and Trademark Office (USPTO). The patent, titled Colon Cleaning System with Automatic Self-Purging Feature, covers the automated management of pressure for irrigation and self-purging feature of the latest generation of the Pure-Vu system. The system is designed to improve endoscopic outcomes and experiences. The new patent is expected to further strengthen the companys intellectual property portfolio in the U.S.
Investment
Neutral
Motus GI Holdings, Inc. Announces Adjournment of the February 16, 2024 Special Meeting of Stockholders
Motus GI Holdings, Inc. has announced that its special meeting of stockholders, which was held on February 16, 2024, was adjourned without conducting any business. The meeting was adjourned to provide stockholders additional time to vote on a proposal described in the companys definitive proxy statement. The adjourned meeting will reconvene on March 7, 2024. The companys board of directors believes that the stockholders approval of the proposal is in the best interests of the company and its stockholders.
Management Changes
growth-positive
Zacks.com featured highlights Lancaster Colony, On Holding, Rent the Runway, 5E Advanced Materials and Motus GI
The article discusses the potential for strong returns from stocks with a rising price-to-earnings (P/E) ratio. It suggests that investors can bet on companies like Lancaster Colony, On Holding, Rent the Runway, 5E Advanced Materials and Motus GI, as their rising P/E indicates inherent strength and potential for growth. The article explains that as earnings rise, so should the price of the stock, and a rising P/E ratio suggests that investors are willing to pay more per dollar of earnings, expecting the companys earnings to rise at a faster pace in the future.
Investment
growth-positive
Motus GI Holdings Publishes Positive Results from a European Study of the Second Generation Pure-Vu System in Improving Visualization for Colonoscopy in Patients with a History of Poor Bowel Preparation
Motus GI Holdings, Inc. has announced the publication of positive data from a study of the second generation Pure-Vu System. The study concluded that adequate bowel cleaning can be achieved in patients with a history of inadequate bowel preparation by using the Pure-Vu System. This would reduce the number of repeat colonoscopies and clinical admissions for bowel preparation. The company has also secured FDA clearance for its next generation system, which features key enhancements.
Customers
growth-positive
There Are Reasons To Feel Uneasy About Motus Holdings' (JSE:MTH) Returns On Capital
Motus Holdings has shown a decrease in its return on capital employed (ROCE) from 26% five years ago to 17% currently. However, the companys capital employed and revenue have both increased, indicating that the business is pursuing growth despite short-term returns. The company has also decreased its current liabilities to 49% of total assets, reducing some elements of risk. Despite lower returns in the short term, Motus Holdings is reinvesting for growth and has higher sales as a result. The companys stock has delivered a 32% gain to shareholders whove held over the last five years.
Investment
growth-positive
Investors in Motus Holdings (JSE:MTH) have seen splendid returns of 101% over the past three years
The share price of Motus Holdings Limited has increased by 66% in the last three years, outperforming the market return of around 16%. The companys earnings per share (EPS) grew at 127% per year over three years, which is higher than the 18% average annual increase in the share price. The total shareholder return (TSR) over the last 3 years was 101%, which is better than the share price return. However, investors in Motus Holdings had a tough year, with a total loss of 8.3% (including dividends), against a market gain of about 3.2%.
Investment
growth-positive
Motus GI Holdings, Inc. Announces Pricing of $5.0 Million Public Offering
Motus GI Holdings, Inc., a medical technology company, has announced the pricing of a public offering of over 3 million shares of common stock and Series A and B common warrants. The combined public offering price is $1.50 per share and each warrant, with aggregate gross proceeds expected to be approximately $5.0 million. The offering is expected to close on December 21, 2023, subject to customary closing conditions. The company plans to use the net proceeds for working capital and other general corporate purposes.
InvestmentPublic Trading
Neutral
Did Motus Holdings Limited (JSE:MTH) Use Debt To Deliver Its ROE Of 19%?
The article discusses the use of Return On Equity (ROE) as a tool to understand a business, using Motus Holdings Limited as an example. ROE is used to assess the profitability of a company in relation to its equity capital. The ROE for Motus Holdings is 19%, which is close to the average for the Specialty Retail industry. However, the companys high use of debt, leading to a debt to equity ratio of 1.51, is noted as a potential risk. The article concludes that while ROE is a useful tool, it is just one piece of a larger puzzle in assessing a companys quality and potential for growth.
Investment
Growth-Positive
At R102, Is Motus Holdings Limited (JSE:MTH) Worth Looking At Closely?
Motus Holdings Limited has seen a double-digit share price rise of over 10% in the past couple of months on the JSE. The companys outlook and value based on the most recent financial data suggest that it is fairly priced at around 20% below its intrinsic value. The companys earnings growth is expected to be in the teens in the upcoming years, indicating a solid future. However, the market has already priced in the companys positive outlook, with shares trading around its fair value.
Investment
growth-positive
Motus GI Reports Third Quarter 2023 Financial Results and Provides Corporate Update
Motus GI Holdings, Inc., a medical technology company, announced the FDA clearance of its Pure-Vu® EVS Gastro system, targeting the upper GI market. The company plans to introduce the system to top U.S. hospital systems by the end of 2023. Motus GI is also exploring strategic and financing alternatives to accelerate commercialization and maximize stockholder value. The company received approval from the Israeli Ministry of Health for commercial sales in Israel and is finalizing the CE Mark process in Europe. Additionally, Scott Durbin was appointed to the Board of Directors. These developments are expected to enhance the companys market position and growth prospects.
CustomersPartnersManagement Changes
growth-positive
Motus GI Reports Third Quarter 2023 Financial Results and Provides Corporate Update
Motus GI Holdings, Inc. has reported its financial results for Q3 2023, revealing a revenue of $86,000, compared to $278,000 for the same period last year. The company has also announced the successful first case performed using the new FDA cleared Pure-Vu® EVS Gastro system, with broader market introductions expected by the end of 2023. The company is also exploring strategic and financing alternatives to accelerate the commercialization of the Pure-Vu System. Additionally, the company has appointed Scott Durbin to its Board of Directors.
InvestmentManagement Changes
growth-positive
Motus GI Announces First Upper GI Patient Procedure for FDA Cleared Pure-Vu® EVS Gastro
Motus GI Holdings, Inc., a medical technology company, has announced the successful use of its Pure-Vu® EVS Gastro in the first procedure since receiving FDA clearance. The procedure was performed by Dr. Brian Hanson at the University of Minnesota. The Pure-Vu® EVS Gastro addresses the Upper GI market, a high unmet clinical need, including approximately 400,000 cases of upper GI bleeds per year in the U.S. The company is working to place this new device and their next generation colon product in top hospital systems to establish a foundation of reference centers.
CustomersExpand
growth-positive
We Take A Look At Why Motus Holdings Limited's (JSE:MTH) CEO Has Earned Their Pay Packet
Motus Holdings Limited is set to hold its Annual General Meeting on November 8th, where CEO Osman Arbees compensation will be discussed. Arbees total pay includes an R11.3m salary, with total compensation reported as R28m for the year to June 2023, a decrease of 41% from the previous year. This is in line with the median for CEOs in the South African Specialty Retail industry. The company has seen significant growth, with EPS growing by 127% over the past three years and a total shareholder return of 160% over the same period.
Management Changes
Neutral
Motus GI Announces 1-for-15 Reverse Stock Split
Motus GI Holdings, Inc. has announced a 1-for-15 reverse stock split of its outstanding common stock to increase the per share trading price and satisfy the $1.00 minimum bid price requirement for continued listing on the Nasdaq Capital Market. The reverse stock split will reduce the number of shares of common stock issued and outstanding from approximately 8.7 million to approximately 0.6 million. The reverse split will not alter any stockholder’s percentage interest in the Company’s equity, except for the issuance of fractional shares. The board of directors approved the reverse stock split at a ratio of 1-for-15 on October 27, 2023.
Public TradingManagement Changes
growth-positive
Motus GI Receives FDA Clearance to Commercialize Pure-Vu EVS Gastro and Gen 4 Colon
Motus GI Holdings, Inc., a medical technology company, has received FDA clearance for its new Pure-Vu EVS Gastro and Gen 4 Colon system. The new system features technological advancements that improve the performance, ease of use, and reduces the need for onsite support. The Pure-Vu EVS Gastro opens the upper gastrointestinal (GI) market and provides access to high acuity patients suffering from upper GI bleed. The company plans to initiate the market introduction of the new platform by the end of the year.
CustomersExpand
Growth-Positive
With 52% ownership of the shares, Motus Holdings Limited (JSE:MTH) is heavily dominated by institutional owners
Institutions own 52% of Motus Holdings Limited, giving them significant influence over the company. The top 5 shareholders control over half of the company, indicating their sway over decision-making. The largest shareholder is Public Investment Corporation Limited with 14% of shares, followed by Coronation Fund Managers Limited and Ukhamba Holdings (Proprietary) Limited with 12% and 11% respectively. Insiders own R803m worth of stock in the R16b company. The general public owns 13% of the company, while private companies own 15%.
Investment
growth-positive
Motus GI Submits Special 510(k) to FDA for Pure-Vu EVS Gen 4 Gastro and Colon
Motus GI Holdings, Inc., a medical technology company, has submitted a special 510(k) to the U.S. Food and Drug Administration (FDA) for market clearance of its Pure-Vu Gen 4 Gastro and Colon. The new platform is designed to improve endoscopic outcomes and experiences, and is expected to reduce the cost of goods by approximately 50%. The company believes that the new platform will open up the Upper GI market and minimize the need for onsite support to new accounts. The submission is supported by positive preclinical and clinical data collected by key opinion leaders in the U.S. and abroad.
InvestmentExpand
growth-positive
Motus GI Amends Royalty Agreement
Motus GI Holdings, Inc., a medical technology company, announced an amended agreement to eliminate approximately $1 million in contingent royalty obligations from its balance sheet. The royalty rights were canceled in exchange for 1,455,641 shares of common stock. This move is expected to improve the companys stockholder equity and simplify its exploration of strategic and financing alternatives. Additionally, the company plans to submit a special 510(k) to the FDA by early Q4 2023 for the next generation of its Pure-Vu EVS system, aiming to expand its capabilities into supporting upper GI procedures.
Investment
Neutral
Motus GI Appoints Medical Device Industry Veteran Scott Durbin to its Board of Directors
Motus GI Holdings, Inc. has announced the appointment of Scott Durbin to the Company’s Board of Directors. Durbin brings over 25 years of executive leadership, finance and clinical development experience. The company also announced the resignation of David Hochman and Darren Sherman from the Board, due to their executive obligations at Orchestra BioMed Holdings, Inc. Durbins appointment is expected to bring value to Motus and complement the experience of the current Board. The company is looking forward to securing FDA clearance for its next generation system and accelerating the commercialization of the Pure-Vu System.
Management Changes
growth-positive
Motus Holdings Full Year 2023 Earnings: In Line With Expectations
Motus Holdings has released its Full Year 2023 Results, showing a 16% increase in revenue compared to the previous year. Net income also saw a 1.9% increase. However, the profit margin decreased from 3.6% to 3.2% due to higher expenses. Earnings per share (EPS) increased from R19.02 to R20.08. The companys performance is in line with analyst expectations, and revenue is forecasted to grow 9.1% annually over the next 2 years. The stock may be undervalued based on various valuation benchmarks. The article provides general commentary and does not constitute financial advice.
CustomersInvestment
growth-positive
Motus GI to Present at the H.C. Wainwright 25th Annual Global Investment Conference
Motus GI Holdings, Inc. announced that its President and CEO will present at the H.C. Wainwright 25th Annual Global Investment Conference. The webcast of the presentation will be available on the companys website for 90 days.
Investment
growth-positive
Motus GI Reports Second Quarter 2023 Financial Results and Provides Corporate Update
Motus GI Holdings, Inc. reported its financial results for Q2 2023, with a revenue of $113,000 compared to $185,000 for the same period last year. The company is on track to submit a special 510(k) for Pure-Vu Gen 4 Gastro and Colon to the FDA in Q4 2023. It also received system-wide approval in the Banner Medical Hospital Network. The company has completed two rounds of cost-cutting measures in 2023, reducing operating expense cash burn by more than 50%. The cuts are mainly due to reductions in the company’s executive management, workforce, and clinical expenses.
CustomersManagement ChangesLayoffs
growth-positive
Motus GI Receives Approval from the Israeli Ministry of Health to Initiate Commercial Sales of its Pure-Vu® EVS System
Motus GI Holdings, Inc., a medical technology company, has received approval from the Israeli Ministry of Health to initiate commercial sales of the Pure-Vu® EVS System in Israel. The Pure-Vu System EVS is designed to improve visualization during colonoscopy and endoscopy, particularly for patients who are elderly, with comorbidities, or active bleeds. The system is already cleared by the U.S. Food and Drug Administration (FDA). The approval supports the companys strategy to enable strategic partnerships with medical device companies on a global basis.
CustomersExpand
Neutral
Motus Holdings (JSE:MTH) Is Reinvesting At Lower Rates Of Return
Motus Holdings return on capital employed (ROCE) is not showing a promising trend, having fallen from 25% five years ago to 19% currently. However, the companys revenue and the amount of assets employed in the business have increased, suggesting that the company is investing in growth. The company has also decreased its current liabilities to 48% of total assets, which could partly explain why the ROCE has dropped. Despite the falling returns, the stock has returned a huge 293% to shareholders in the last three years.
growth-positive
Motus GI Announces Purchase Agreement for the Pure-Vu System® from Banner Desert Medical Center
Motus GI Holdings, Inc. has announced that Banner Desert Medical Center has purchased and begun implementing the Pure-Vu System, designed to improve endoscopic outcomes. The system is expected to enhance the efficiency and clinical outcomes of inpatient colonoscopy procedures. This partnership is expected to facilitate an easier sales process to other medical centers within the Banner Medical network. The Pure-Vu System integrates with standard and slim colonoscopes to improve visualization during colonoscopy while preserving established procedural workflow and techniques.
CustomersPartnersExpand
Growth-Positive
Motus GI Holdings, Inc. (MOTS) Upgraded to Strong Buy: Here's What You Should Know
Motus GI Holdings, Inc. has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting an upward trend in earnings estimates. The Zacks rating system tracks the consensus measure of EPS estimates from sell-side analysts covering the stock for the current and following years. The upgrade for Motus GI Holdings is a positive comment on its earnings outlook, which could positively impact its stock price. For the fiscal year ending December 2023, the company is expected to earn -$2.12 per share, a change of 63.1% from the year-ago reported number. Over the past three months, the Zacks Consensus Estimate for the company has increased 36.8%.
growth-positive
Lacklustre Performance Is Driving Motus Holdings Limited's (JSE:MTH) Low P/E
Motus Holdings Limiteds price-to-earnings (P/E) ratio of 5x may indicate bullish signals, as nearly half of all companies in South Africa have P/E ratios greater than 9x. Motus Holdings has shown superior earnings growth compared to most other companies, which could be a reason for the reduced P/E. However, estimates suggest that the companys earnings should grow by 6.3% per annum over the next three years, which is less than the markets forecasted expansion of 11% per year. This could be why Motus Holdings is trading at a P/E lower than the market.
Investment
If EPS Growth Is Important To You, Motus Holdings (JSE:MTH) Presents An Opportunity
growth-positive
Boasting A 23% Return On Equity, Is Motus Holdings Limited (JSE:MTH) A Top Quality Stock?
The article discusses the importance of Return On Equity (ROE) and analyzes the ROE of Motus Holdings Limited. It states that Motus Holdings has a superior ROE compared to the industry average, indicating good profitability. However, it also highlights the high debt-to-equity ratio of the company, which could pose risks. The article suggests that a company with a high ROE and low debt could be considered a high-quality business. It advises investors to consider various factors, including profit growth rates and stock price expectations, when determining the right price to buy a stock. The article concludes by stating that the analysis is based on historical data and analyst forecasts and should not be considered as financial advice.
Investment
growth-positive
Motus GI Announces Pure-Vu Gen 4 Gastro and Colon System Featured at 9th IECED Live Endoscopy Course 2023 at the Pentax Learning Center
Motus GI Holdings, Inc. announced that its Pure-Vu Gen 4 Gastro and Colon system was featured during the 9th Ecuadorian Institute of Digestive Diseases (IECED) Live Endoscopy Course 2023. The system was used to support an underwater endoscopic mucosal resection (UEMR) during a live case conducted by Dr. Carlos Robles-Medranda. The Pure-Vu Gen 4 Gastro was also featured in a hands-on demonstration area. The company received positive feedback and plans to submit a 510(k) application to the U.S. FDA for the Pure-Vu Gastro device in Q4 2023. The Pure-Vu Gen 4 Gastro and Colon systems utilize the same workstation and aim to improve visualization in both the upper and lower GI tract. Motus GI is a medical technology company focused on improving endoscopic outcomes and experiences.
Partners
growth-positive
Orchestra BioMed Appoints Bill Little as Executive Vice President of Corporate Development and Strategy and Andrew Taylor as Chief Financial Officer
Orchestra BioMed has appointed Bill Little as EVP of Corporate Development and Strategy and Andrew Taylor as CFO. The companys business model focuses on risk-reward sharing partnerships to advance innovative medical technologies to market. Littles appointment marks the establishment of a formal corporate development function within the company, while Taylor brings over 20 years of CFO experience in the medical device sector. The company aims to generate additional value for stakeholders through their leadership. Orchestra BioMed has strategic collaborations with Medtronic and Terumo Corporation for the development and commercialization of their flagship product candidates. The company plans to potentially expand its product pipeline through acquisitions, strategic collaborations, licensing, and organic development.
Management Changes
growth-positive
Motus GI Announces Appointment of Ravit Ram as Chief Financial Officer
Motus GI Holdings, Inc. has completed a corporate reorganization to reduce operating costs and support key value creation drivers. The company has promoted Ravit Ram as the new Chief Financial Officer (CFO) as part of the transition plan for the previous CFO, Andrew Taylor. The reorganization aligns with the companys strategic focus, including the development of the next generation of their technology, the Pure-Vu Gen 4 Gastro and Colon, which are expected to be submitted for FDA clearance in Q4 2023. The company aims to establish commercial partnerships in the future and is working on a cost structure that aligns with this goal. Ravit Ram brings extensive operational and financial experience to the role, having served as a senior member of the Motus GI management team since 2018.
Management Changes
growth-positive
Is Now The Time To Look At Buying Motus Holdings Limited (JSE:MTH)?
The article discusses the stock price movement of Motus Holdings Limited and questions whether the current trading price is reflective of the companys actual value. It suggests that the stock is currently undervalued, providing an opportunity for investors to buy. The article also mentions that the company is expected to deliver relatively unexciting earnings growth. Shareholders are advised to consider increasing their holdings in the stock, while potential investors are encouraged to consider the future outlook of the company. The article concludes by mentioning that there are 2 warning signs for Motus Holdings. The date of the event described in the article is not provided.
Public Trading
growth-positive
Motus GI Announces $3.5 Million Private Placement Priced At-the-Market Under Nasdaq Rules
Motus GI Holdings, Inc. has entered into definitive agreements for a private placement of its common stock and warrants. The private placement is expected to raise approximately $3.5 million in gross proceeds, which will be used for working capital and general corporate purposes. The offering is not a public offering and the securities have not been registered under the Securities Act. H.C. Wainwright & Co. is acting as the exclusive placement agent for the private placement. The company has also agreed to amend certain existing warrants. A registration statement will be filed with the SEC to cover the resale of the securities.
Investment
growth-positive
Why Motus GI Stock Is Skyrocketing Today
Motus GI Holdings Inc shares are trading higher after the company completed the first clinical evaluation of New Pure-Vu Gastro in upper gastrointestinal (GI) procedures to support FDA submission. The evaluation showed positive results in terms of efficiency and improved bowel prep rate. Motus GI has also initiated a process to explore strategic and financing alternatives.
Customers
growth-positive
Motus GI Completes First Clinical Evaluation of New Pure-Vu® Gastro in Upper Gastrointestinal (GI) Procedures to Support FDA Submission
Motus GI Holdings, Inc. has announced the initiation of a clinical evaluation of its Pure-Vu Gen 4 Gastro device in collaboration with the Ecuadorian Institute of Digestive Diseases. The device is designed for upper gastrointestinal (GI) bleeding procedures. The company plans to submit a 510(k) application to the U.S. FDA for the Pure-Vu Gastro device in Q4 2023. The clinical evaluation has shown high usability scores and positive initial feedback on the devices performance. The Pure-Vu Gen 4 Gastro device aims to improve a physicians visualization while identifying and treating upper GI bleeds. The device will also be used during the 9th IECED Live Endoscopy Course in June 2023.
Customers
growth-positive
Motus Holdings Limited (JSE:MTH) is a favorite amongst institutional investors who own 51%
The article discusses the ownership structure of Motus Holdings Limited, with institutions owning 51% of the company. The presence of institutional investors is generally viewed as a positive attribute, as they have a significant amount of resources and liquidity. The top 5 shareholders own 52% of the company. The article also mentions insider ownership, with insiders collectively owning R826m worth of the company. The general public holds a 14% stake in the company, while private companies hold 15%. The article advises considering other information and warns of 2 warning signs for Motus Holdings. The article does not provide a specific date for the event described.
Investment
growth-positive
Motus GI Announces DDW 2023 Clinical Study Presentation Showing Pure-Vu EVS Drove a 33% Hospital-Wide Improvement in Incomplete Bowel Prep Rate at Minneapolis VA Medical Center
Motus GI Holdings, Inc. announced that new clinical data from the University of Minnesota and Minneapolis VA Medical Center showed a hospital-wide improvement in the rate of incomplete bowel prep for colonoscopies after implementing the Pure-Vu EVS. The study demonstrated a decrease in canceled and poor quality procedures, leading to improved resource utilization and patient experience. The data was presented at Digestive Disease Week 2023. Motus GI believes that the implementation of Pure-Vu EVS can have a significant impact on reducing suboptimal exams or canceled procedures, improving the patient experience, and optimizing resource utilization. The company is also working with VA hospitals to be included in their 2024 budgets.
Customers
Motus GI Reports First Quarter 2023 Financial Results and Provides Corporate Update
Motus GI Holdings, Inc. (MOTS) Reports Q1 Loss, Lags Revenue Estimates
growth-negative
Those who invested in Motus Holdings (JSE:MTH) three years ago are up 268%
The share price of Motus Holdings Limited has fallen 25% in the quarter, but has seen a 219% increase over the past three years. The company has achieved compound earnings per share growth of 26% per year, lower than the average annual increase in the share price. Motus Holdings total shareholder return for the last three years was 268%, largely due to its dividend payments. Insider buying has been significant in the last quarter. While the past year has been challenging for the companys shares, the longer-term performance has been positive. However, there are some warning signs to consider. This article does not constitute financial advice.
Public Trading
growth-positive
Angel Medical Systems, Creator of the Guardian™, First Implantable Cardiac Alert System, Changes Name to Avertix Medical Inc. and Welcomes New CEO and CFO to Drive Continued Growth and Success
Angel Medical Systems Inc. has changed its corporate name to Avertix Medical Inc. and appointed new leadership roles. The companys Guardian™ product family, which provides early cardiac monitoring and alerting, has been successful and is driving growth. The name change reflects the companys commitment to continue providing the Guardian™ to patients worldwide. Tim Moran has been appointed as President and CEO, bringing his experience in the medical technology industry. Philip Tom has joined as Executive Vice President and CFO. The company aims to empower patients who have had prior acute coronary syndrome (ACS) events with state-of-the-art technology. The changes mark a pivotal time for the company as it focuses on improving long-term management of coronary disease.
CustomersManagement Changes
growth-negative
Motus GI Announces Executive Leadership Restructuring and Additional Cost Saving Initiatives to Support Near-Term Milestones
Motus GI Holdings, Inc. announces executive changes and restructuring to reduce operating costs and support key value creation drivers. Tim Moran transitions from CEO to Chairman of the Board, while Mark Pomeranz is appointed as the new CEO. The company implements cost-cutting measures to reduce operating expenses by approximately 25%. The restructuring plan aims to extend the companys cash runway to support FDA submission of its Pure-Vu Upper GI and fourth-generation Lower GI products by the end of 2023. The changes are part of the companys strategy to focus on R&D efforts, bring new products to market, and support existing customers and pipeline opportunities. The company expects to incur non-recurring charges of less than $400,000 in the second quarter of 2023. Mark Pomeranz brings extensive experience in the medical device industry and has been involved in the development of the companys flagship product, the Pure-Vu System.
Management ChangesLayoffs
Motus GI Reports Fourth Quarter and Full Year 2022 Financial Results and Provides Corporate Update
Motus GI Holdings, Inc. (MOTS) Reports Q4 Loss, Lags Revenue Estimates
Growth-Negative
Motus GI Holdings Looks For Strategic Alternatives
Motus GI Holdings Inc is exploring strategic and financing alternatives and has engaged Lake Street Capital Markets LLC as an advisor. The board has approved a strategic restructuring program to preserve capital by reducing quarterly operating costs by approximately 35%. The company plans to eliminate about 45% of its workforce in the first quarter of 2023 to reduce cash burn. The restructuring is expected to incur a non-recurring charge of approximately $1.0 to 2.0 million in Q1 of 2023. The company reported $13.3 million in cash and cash equivalents as of September 30, 2022.
LayoffsManagement Changes
Motus GI Announces Exploration of Strategic Alternatives to Enhance Shareholder Value and Announces Restructuring Plan
Motus GI Announces Improvement of Pure-Vu® EVS System for Use in Upper Gastrointestinal (GI) Bleeding Procedures Following Successful Pre-Clinical Tests
Motus GI Holdings Third Quarter 2022 Earnings: EPS Beats Expectations, Revenues Lag
Motus GI Holdings, Inc. (MOTS) Reports Q3 Loss, Misses Revenue Estimates
growth-positive
Motus GI Receives FDA Clearance to Market the Pure-Vu® EVS System
Motus GI Holdings, Inc. has received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for its Pure-Vu EVS System. The new system is designed to improve the speed of set-up, enhance navigation capabilities, and overcome challenges during colonoscopies. The Pure-Vu EVS System offers significant usability advancements and is expected to accelerate adoption in the U.S. and global markets. The commercial launch is planned for the first quarter of 2022. The FDA clearance is expected to allow a greater number of physicians and hospitals to utilize the technology. Motus GI Holdings aims to improve clinical outcomes and enhance cost-efficiency in the diagnosis and management of gastrointestinal conditions.
CustomersExpand
growth-positive
News Releases
Motus GI has made several announcements over the past few months. These include the appointment of Ravit Ram as Chief Financial Officer, a $3.5 million private placement, the completion of the first clinical evaluation of the new Pure-Vu® Gastro system, and the restructuring of the executive leadership team. The company also reported its financial results for the first quarter of 2023 and announced plans to explore strategic alternatives to enhance shareholder value.
Management ChangesInvestment
growth-positive
News Releases Motus GI Holdings, Inc.
The article provides contact information for Mark Pomeranz, the Chief Executive Officer and Director of Motus GI.
growth-positive
News Releases Motus GI Holdings, Inc.
The article provides contact information for Mark Pomeranz, the Chief Executive Officer and Director of Motus GI.
growth-positive
News Releases Motus GI Holdings, Inc.
The article provides contact information for Mark Pomeranz, the Chief Executive Officer and Director of Motus GI.
growth-positive
News Releases Motus GI Holdings, Inc.
The article provides contact information for Mark Pomeranz, the Chief Executive Officer and Director of Motus GI.
growth-positive
Motus GI and NYU Langone Health Partner to Improve its Inpatient Colonoscopy Management
Motus GI Holdings, Inc. is launching a new clinical protocol with NYU Langone Health to incorporate the Company’s Pure-Vu GEN2 System (Pure-Vu) with the intention to improve the management of its inpatient colonoscopies. The Pure-Vu System is a U.S. FDA cleared medical device indicated to help facilitate the cleaning of a poorly prepared colon during the colonoscopy procedure. The Company has received value analysis approval for the implementation of the Pure-Vu System at NYU Langone Health and will focus on expanding training to additional physicians and staff.
Partners
growth-positive
News Releases Motus GI Holdings, Inc.
The article mentions Mark Pomeranz as the Chief Executive Officer and Director of Motus GI.
Management Changes
growth-positive
News Releases Motus GI Holdings, Inc.
The article provides contact information for Mark Pomeranz, the Chief Executive Officer and Director of Motus GI.
growth-positive
News Releases Motus GI Holdings, Inc.
The article provides contact information for Mark Pomeranz, the Chief Executive Officer and Director of Motus GI.
growth-positive
News Releases Motus GI Holdings, Inc.
The article provides contact information for Mark Pomeranz, the Chief Executive Officer and Director of Motus GI.
Management Changes
growth-positive
News Releases Motus GI Holdings, Inc.
The article provides contact information for Mark Pomeranz, the Chief Executive Officer and Director of Motus GI.
growth-positive
News Releases Motus GI Holdings, Inc.
The article provides contact information for Mark Pomeranz, the Chief Executive Officer and Director of Motus GI.
growth-positive
News Releases Motus GI Holdings, Inc.
The article mentions Mark Pomeranz as the Chief Executive Officer and Director of Motus GI.
Management Changes
growth-positive
News Releases Motus GI Holdings, Inc.
The article provides contact information for Mark Pomeranz, the Chief Executive Officer and Director of Motus GI.
growth-positive
News Releases Motus GI Holdings, Inc.
The article provides contact information for Mark Pomeranz, the Chief Executive Officer and Director of Motus GI.
growth-positive
News Releases Motus GI Holdings, Inc.
The article provides contact information for Mark Pomeranz, the Chief Executive Officer and Director of Motus GI.
Management Changes
growth-positive
News Releases Motus GI Holdings, Inc.
The article mentions Mark Pomeranz as the Chief Executive Officer and Director of Motus GI.
Management Changes
growth-positive
News Releases Motus GI Holdings, Inc.
The article provides contact information for Mark Pomeranz, the Chief Executive Officer and Director of Motus GI.
growth-positive
News Releases Motus GI Holdings, Inc.
The article provides contact information for Mark Pomeranz, the Chief Executive Officer and Director of Motus GI.
growth-positive
News Releases Motus GI Holdings, Inc.
The article provides contact information for Mark Pomeranz, the Chief Executive Officer and Director of Motus GI.
growth-positive
News Releases Motus GI Holdings, Inc.
The article mentions Mark Pomeranz as the Chief Executive Officer and Director of Motus GI.
Management Changes
growth-positive
News Releases Motus GI Holdings, Inc.
The article provides contact information for Mark Pomeranz, the Chief Executive Officer and Director of Motus GI.
growth-positive
News Releases Motus GI Holdings, Inc.
The article mentions Mark Pomeranz as the Chief Executive Officer and Director of Motus GI.
Management Changes
Motus GI to Participate in Life Science Intelligence Emerging Medtech Summit 2020
Motus GI Announces EXPEDITE Study Initiated by Boston Medical Center to Evaluate Clinical Effectiveness of Pure-Vu® System for Improving Bowel Preparation Rates
growth-positive
Motus GI lands FDA clearance for next-gen colon prep system
Motus GI has received FDA 510(k) clearance for the second-generation of its Pure-Vu colonoscopy device. The new device is designed to improve mobility, setup logistics, and navigation through the colon while retaining the same cleansing functionality as the first generation. The company plans to launch the Pure-Vu system this year and aims to establish it as a new standard of care in key endoscopy segments. The initial focus will be on the inpatient colonoscopy market, where challenges with insufficient bowel prep can lead to canceled procedures, delayed diagnosis, and increased costs for hospitals.
CustomersExpand
Motus GI Presents Positive Clinical Results from REDUCE Study Evaluating Pure-Vu® System in Hospitalized Colonoscopy Patients at Digestive Disease Week® 2019
Motus GI Announces Publication of Pure-Vu® System Clinical Study Data in Peer-Reviewed Journal of Clinical Gastroenterology
growth-positive
Motus GI Announces Publication of Pure-Vu® System Clinical Study Data in Peer-Reviewed Endoscopy Journal BioSpace
Motus GI Holdings, Inc., a medical technology company, has announced the publication of data from a feasibility study of its flagship product, the Pure-Vu System. The study showed that the Pure-Vu System significantly increased the number of subjects with an adequate cleansing level during colonoscopy procedures. The data supports the companys belief that the Pure-Vu System can become the standard of care in the inpatient market and support high-need segments in the outpatient market. Motus GI is currently focused on post-approval clinical trials and market development programs with leading US hospitals in preparation for a full commercial launch in the US and select international markets in 2019.
Customers
Motus GI Announces $13.5 Million Follow-on Public Offering
Motus GI to Present at the Piper Jaffray Healthcare Conference
Motus GI Announces Successful Clinical Use of Pure-Vu® Slim Sleeve with Slim Colonoscopes
Motus GI Presents Positive Clinical Data from U.S. Prospective Study of the Pure-Vu® System at the 2018 American College of Gastroenterology (ACG) Annual Meeting
Motus GI Appoints Medical Device Commercial Leader Timothy P. Moran as Chief Executive Officer;Mark Pomeranz Continues in Key Executive Leadership Role as President and Chief Operating Officer
Motus GI Receives FDA Clearance to Market Pure-Vu® Slim Sleeve for Use with Slim Colonoscopes
growth-positive
Motus GI Appoints Jeff Hutchison as VP of U.S. Sales and Commercial Operations
Motus GI Holdings, Inc., a medical technology company focused on improving clinical outcomes and enhancing the cost-efficiency of colonoscopy, has announced the appointment of Jeff Hutchison as Vice President of U.S. Sales and Commercial Operations. Hutchison will be responsible for building Motus GI’s U.S. sales organization and driving the company’s pre-launch commercial activities ahead of the planned launch of the Pure-Vu® System into the inpatient market in 2019. The Pure-Vu® System is a FDA-cleared medical device system that enables physicians to rapidly cleanse the colon during the colonoscopy procedure.
Management ChangesExpand
Motus GI Strengthens IP Portfolio with Issuance of Japanese Patent for the Pure-Vu® System
Motus GI Announces Inclusion in the Russell Microcap® Index
growth-positive
Motus GI's Pure-Vu System can lower repeated colonoscopy procedure cost by up to 82%
Motus GIs Pure-Vu System has been shown to lower repeat colonoscopy cost and colorectal cancer incidence rate by improving colon prep. The system reduced the colorectal cancer incidence rate by 36% and minimized overall patient costs by up to $3,400 for private payers and up to $1,600 for Medicare beneficiaries. It also reduced the costs of repeated procedures due to inadequate prep. The research findings were presented at Digestive Disease Week.
Customers
growth-positive
Motus GI Enrolls First Patient in REDUCE Study of the Pure-Vu® System in Hospitalized Patients
Motus GI Holdings, Inc has enrolled the first patient in its REDUCE study, a multi-center, prospective study that will use the Pure-Vu System to facilitate bowel cleansing in approximately 100 hospitalized patients who are indicated for a diagnostic colonoscopy procedure. The Pure-Vu System is a medical device that cleans the colon intra-procedurally to facilitate improved visualization during a colonoscopy procedure. The REDUCE study is designed to evaluate the Pure-Vu Systems ability to consistently and reliably cleanse the colon to facilitate a successful colonoscopy in a timely manner.
CustomersExpand
Motus GI Announces Issuance of Chinese Patent for the Pure-Vu® System
growth-positive
Motus GI Expands Intellectual Property Portfolio with New U.S. Patent Issuance for the Pure-Vu® System
Motus GI Holdings, a medical technology company, has been granted a patent by the US Patent and Trademark Office for its Pure-Vu System, a device that cleans the colon to facilitate improved visualization during a colonoscopy procedure. The company is planning to launch the product in the US and select international markets in 2019. The Pure-Vu System is currently being introduced on a pilot basis in the US market. The company believes the system can improve colonoscopy procedures, improving speed of diagnosis and clinical outcomes while potentially saving hospitals thousands of dollars per patient.
Investment
Motus GI Announces Issuance of European Patent for the Pure-Vu® System
Motus GI Receives CE Mark Approval for the Pure-Vu® System
Motus GI Announces Closing of Initial Public Offering
growth-positive
Motus GI Holdings, Inc. Successfully Completes $30.0 Million Private Placement
Motus GI Holdings, Inc. has announced the closing of a $30.0 million private placement to support the U.S. commercial launch of its Motus Pure-Vu system for cleaning poorly-prepped colons during colonoscopies. The lead investor in the private placement was Perceptive Advisors, with additional investments from Orchestra Medical Ventures, Ascent Biomedical Ventures, Jacobs Investment Company, GJG Life Sciences, and Pura Vida Investments. The net proceeds from the private placement will be used to build awareness and support for the Pure-Vu systems benefits among providers, patients, and payers. The Pure-Vu system has the potential to significantly improve colonoscopy outcomes and reduce costs associated with inadequate bowel prep. Motus GI Holdings received clearance from the U.S. Food and Drug Administration to market the Pure-Vu system in September 2016.
Investment
growth-positive
Motus GI touts Pure-Vu clinical data
Motus GI, a healthcare company, has developed the Pure-Vu cleansing device to improve the preparation of patients for colonoscopies. According to Motus GI CEO Mark Pomeranz, 20% of colonoscopy patients are poorly prepped, leading to the need for a second visit and potential missed cancerous lesions. Motus GIs Pure-Vu system, which is integrated with a standard colonoscope, significantly increased the number of participants with adequately cleansed colons in a clinical trial. Inadequately prepped colons not only burden the healthcare system but also impact physician reimbursement. Motus GI received FDA clearance for the Pure-Vu system in 2016 and plans to pursue CE Mark approval in the European Union.
Customers
growth-positive
Pure-Vu Colonoscopy System for Cleansing Dirty Colons
MOTUS GI, an Israeli firm, has developed the Pure-Vu system, an FDA-cleared system that helps with bowel cleansing during colonoscopies. The system uses sprinklers and a suction channel to clear the colon, making it easier to detect polyps. The system does not obstruct the colonoscope or its working channels, allowing for other procedures to be performed. The article includes an animation demonstrating how the system works.
Customers
growth-positive
Device offering colonoscopy workaround to boost compliance wins FDA clearance
MOTUS GI has received FDA clearance to market its Pure-Vu system, a device that helps cleanse poorly prepped colons during colonoscopy procedures. The system consists of a disposable component and a workstation controller and uses a mixture of water and air to loosen debris from the colon mucosa. The device aims to address the issue of inadequate colon preparation, which often leads to repeat procedures, missed adenomas, reduced patient satisfaction, and higher costs. MOTUS GI plans to target both the hospital in-patient market and the outpatient market, with the potential to revolutionize the colonoscopy experience and improve patient care and satisfaction.
Customers
growth-positive
FDA clears Pure-Vu System for intra-procedural colon cleaning: 3 notes
Israeli medical device company MOTUS GI has received FDA clearance for its Pure-Vu System. The system cleans poorly-prepared colons during a colonoscopy procedure, allowing for colorectal cancer screening regardless of a patients prior activities. It includes a disposable cleaning component that fits over a standard colonoscope, helping physicians obtain a clear visualization of the colon wall. MOTUS GI expects the device to decrease prolonged procedure times, missed adenomas, and repeat exams caused by inadequate patient preparation.
Customers
Motus GI Team
Employee Info
| Employees (range) | 11-50 |
| Exact count | 23 |
| Team members | 5 |
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Motus GI Internal
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Admin Info
| Confidence | 100/100 |
| Missing | markets |
| BI Verification | Yanina Wainscheinker |
| Registrar ID | 514188135 |
| Crunchbase | mouts-gi |
| Phone | +97246214447 |
| Last updater | Yanina Wainscheinker |
| Updater email | yanina.wainscheinker@sncentral.org |
| Last update | 2023-10-25T00:00:00.000Z |
| Created | 2014-12-28T00:00:00.000Z |
| Claimed | Yes |
| Status detail | Public on NASDAQ on Feb, 2018<br> |