June 30, 2014 | Medigus announced the signing of a private equity placement agreement for $11.1 million, including shares and warrants. Half of the amount was raised by Migdal Insurance and Financial Holdings, and the rest by US institutional investors like Sabby Management, Armistice Capital, Senvest as well as returning investor Orbimed. Following the announcement of the investment, Medigus’ shares jumped 12.5 percent, to NIS 51.40 a pop. The proceeds from the investment spike will be used as working capital and for general management. Medigus has developed minimally invasive endoscopic devices for the treatment of GERD, one of the most common chronic diseases in the western world.