Shares of Medigus Ltd. MDGS, an Israel-based medical device company that focuses on developing minimally invasive endo-surgical tools, gained more than 11 percent early Thursday morning after saying it's eyeing the medical marijuana industry.
Medigus said in a press release it's considering expanding its portfolio to potentially include medical marijuana in markets outside of the United States. The company said it's in the "process of learning" the CBD and medical marijuana market and potential future action may include collaborations outside of the U.S.
"[T]he company's management and board of directors continue to decrease inefficiencies, expand the company's revenue streams and pursue diversification of its activity portfolio," said the press release.
Israel-based Medigus may benefit from friendly law changes as the Israeli Parliament voted in late 2018 to allow marijuana exports.
At time of publication, Medigus shares were up 3.6 percent at $3.12.
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