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ScoutCam Achieved Breakthrough with Healthcare's First of its kind OR-Ready Wireless Endoscope

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OMER, Israel, May 22, 2020 (GLOBE NEWSWIRE via COMTEX) -- ScoutCam /zigman2/quotes/210104359/composite SCTC 0.00% , a company developing and manufacturing customized visual solutions to organizations by offering the world's smallest cameras and supplementary technologies, today announced a breakthrough with the successful integration of the company's wireless micro ScoutCam into medical endoscope devices, formally introducing the healthcare industry's first operating room-ready wireless endoscope, to the company's knowledge.

The device, which has been cleared for marketing by the U.S. Food and Drug Administration (FDA) and meets the Federal Communications Commission requirements, was developed for a privately held orthopedic company.

We believe that the wireless endoscope product revolutionizes the endoscopy industry by implementing a single-use micro camera for medical procedures. ScoutCam's new product includes a 1.1mm x 1.1mm complementary metal oxide semiconductor (CMOS) camera that can be disposed after a single-use; for reference, according to The National Center for Biotechnology Information (NCBI), the average endoscope used in procedures measures around 8mm x 10mm.

"The endoscopic process is a massive undertaking that frequently requires multiple instruments and cleaning procedures, and we are thrilled that our micro ScoutCam can be utilized to simplify the endoscopic process," said Yaron Silberman, Chief Executive Officer of ScoutCam. "Not only does the wireless endoscope aid the FDA's recent recommendation that medical facilities should transition to disposable endoscopic instruments, we also believe that it streamlines endoscopic surgeries and processes."

The camera of the waterproof micro ScoutCam, which can also be used in orthopedics and general surgery, is smaller than a grain of rice. Other product features include:

-- High resolution and image quality

-- Close minimal focal distance of 3mm

-- Protection from operating room interferences

-- Zero latency

In minimally invasive surgeries, endoscopies are time consuming, yet critical healthcare procedures. Within the United States alone, according to iData Research1, 75 million endoscopic surgeries are conducted each year. The complicated procedure has traditionally been performed using the same medical equipment, post sterilization. The FDA only recently issued a recommendation to hospitals and other medical facilities to shift from reusable duodenoscopes to the single-use variants. The recommendation came as a result of the risk of cross-contamination between patients, and will likely drive the adoption of single-use endoscopes into other body cavities.

With the introduction of ScoutCam's wireless, single-use endoscope, which is intended to be used in the treatment of carpal tunnel syndrome at ambulatory surgical centers, the company intends to provide a new technology to increase the efficiency of the procedure, while meeting FDA standards. According the American College of Rheumatology2, carpal tunnel syndrome affects 4 - 10 million Americans, who may be eligible for a now more seamless endoscopic surgery. ScoutCam's devices have also been implemented into rigid, semi-flexible, steerable and flexible endoscopes.

https://idataresearch.com/an-astounding-19-million-colonoscopies-are-performed-annually-in-the-united-states/

https://www.rheumatology.org/I-Am-A/Patient-Caregiver/Diseases-Conditions/Carpal-Tunnel-Syndrome

ScoutCam is continuing its work with the privately held orthopedic company to develop a second generation wireless endoscope, which is expected to reach a wider range of orthopedic procedures.

About ScoutCam

ScoutCam is a leading provider of customized visual solutions for organizations across a variety of industries in the form of highly resistant micro cameras and supplementary technologies. ScoutCam devices are used across the medical, aerospace, industrial, research and defense industries. For more information please visit: https://www.scoutcam.com

Cautionary Note Regarding Forward Looking Statements

Information set forth in this news release contains forward-looking statements that are based on the Company's expectations, beliefs, assumptions and intentions regarding, among other things, its product-development efforts, business, financial condition, results of operations, strategies or prospects, as of the date of this news release. They are not guarantees of future performance. Forward-looking statements can be identified by the use of forward-looking words such as "believe," "expect," "intend," "plan," "may," "should" or "anticipate" or their negatives or other variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical or current matters. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to, inter alia, the spread of COVID-19, including any resultant restrictions on our business operations and/or its negative impact on our financial condition; the Company's reliance on third-party suppliers; market acceptance of our products by prospect markets and industries; the Company's ability to raise sufficient funding in order to meet the Company's business and financial goals; and certain other factors summarized in the Company's filings with the SEC. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.

Contact

Yaron Silberman

Chief Executive Officer

yaron.silberman@scoutcam.com

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/zigman2/quotes/210104359/composite
US : U.S.: OTC
$ 0.80
0.00 0.00%
Volume: 6,640
Nov. 23, 2020 3:50p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$27.79 million
Rev. per Employee
$14,045
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