0001493152-22-027123.txt : 20220929 0001493152-22-027123.hdr.sgml : 20220929 20220929091513 ACCESSION NUMBER: 0001493152-22-027123 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20220929 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20220929 DATE AS OF CHANGE: 20220929 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Motus GI Holdings, Inc. CENTRAL INDEX KEY: 0001686850 STANDARD INDUSTRIAL CLASSIFICATION: SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841] IRS NUMBER: 814042793 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-38389 FILM NUMBER: 221277903 BUSINESS ADDRESS: STREET 1: 1301 EAST BROWARD BOULEVARD STREET 2: 3RD FLOOR CITY: FT. LAUDERDALE STATE: FL ZIP: 33301 BUSINESS PHONE: 786-459-1831 MAIL ADDRESS: STREET 1: 1301 EAST BROWARD BOULEVARD STREET 2: 3RD FLOOR CITY: FT. LAUDERDALE STATE: FL ZIP: 33301 FORMER COMPANY: FORMER CONFORMED NAME: Eight-Ten Merger Corp. DATE OF NAME CHANGE: 20161006 8-K 1 form8-k.htm
0001686850 false 0001686850 2022-09-29 2022-09-29 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): September 29, 2022

 

MOTUS GI HOLDINGS, INC.

(Exact name of registrant as specified in its charter)

 

Delaware   001-38389   81-4042793
(State or other jurisdiction   (Commission   (IRS Employer
of incorporation)   File Number)   Identification No.)

 

1301 East Broward Boulevard, 3rd Floor

Ft. Lauderdale, FL

  33301
(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code: (954) 541-8000

 

Not Applicable
(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of Each Class   Trading Symbol(s)   Name of Each Exchanged on Which Registered
Common Stock, $0.0001 par value per share   MOTS   The Nasdaq Capital Market

 

 

 

 

 

 

Item 7.01. Regulation FD.

 

On September 29, 2022, Motus GI Holdings, Inc. (the “Company”) issued a press release announcing that the Company has officially been recognized as a sole source provider and small business by the Veterans Health Administration (“VHA”). A copy of the press release is attached hereto as Exhibit 99.1.

 

The information in this Current Report on Form 8-K under Item 7.01, including the information contained in Exhibit 99.1, is being furnished to the Securities and Exchange Commission, and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by a specific reference in such filing.

 

Item 8.01 Other Events.

 

On September 29, 2022, the Company announced that it has officially been recognized as a sole source provider and small business by the VHA. The VHA is the largest integrated health care system in the U.S., and provides care to over nine million veterans. The special designation will provide the Company with direct access to the VHA’s procurement arm, thereby streamlining the purchasing and contracting process.

 

Item 9.01. Financial Statements and Exhibits.

 

(d) The following exhibit is furnished with this report:

 

Exhibit No.   Description
99.1   Press Release issued by Motus GI Holdings, Inc., dated September 29, 2022.
104   Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

2

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  MOTUS GI HOLDINGS, INC.
     
Dated: September 29, 2022 By: /s/ Timothy P. Moran
  Name: Timothy P. Moran
  Title: Chief Executive Officer

 

3

 

EX-99.1 2 ex99-1.htm

 

Exhibit 99.1

 

A picture containing object

Description generated with very high confidence

 

Motus GI Named a Sole Source Supplier

with U.S. Department of Veteran Affairs

 

  Multiple contracts with VA medical centers already executed for Pure-Vu EVS under the sole source supplier designation, with additional centers under evaluation
     
 

Approximately 645,000 colonoscopies were performed at ~170 VA medical centers over the last three years

     
  Colonoscopy quality assurance is a key priority of the VA National Gastroenterology and Hepatology Program (NGHP) for veterans, including those who struggle with pre-procedural bowel prep

 

FORT LAUDERDALE, FL, September 29, 2022 (GLOBE NEWSWIRE) — Motus GI Holdings, Inc., (NASDAQ: MOTS) (“Motus GI” or the “Company”), a medical technology company providing endoscopy solutions that improve clinical outcomes and enhance the cost-efficiency associated with the diagnosis and management of gastrointestinal conditions, announced today it is now officially recognized as a sole source provider and small business by the Veterans Health Administration (VHA), the largest integrated health care system in the U.S. providing care to over nine million veterans. These special designations provide the Company with direct access to the VHA’s procurement arm, thereby streamlining the purchasing and contracting process. The Company believes this will increase its ability to access VA medical centers across the country and increase the use of the Pure-Vu EVS System to help veterans suffering from inadequate pre-procedural bowel preparation for both inpatient and outpatient colonoscopies.

 

Motus GI is committed to providing additional commercial focus to the VA Health System in order to support increasing demand for the Pure-Vu EVS system, including educational resources and clinical study opportunities. This strategic support for VA medical centers builds upon the expanded commercial program Motus GI introduced for the launch of Pure-Vu EVS earlier this year. The success of the launch to date has included positive feedback from VHA physicians and administrators, and system placements at several VA medical centers.

 

“We are proud to serve our veteran population, particularly those who may encounter challenges with bowel preparation as a result of pre-existing medical conditions,” commented Tim Moran, Chief Executive Officer of Motus GI. “Based on the recent success of the Pure-Vu EVS system at several VA medical centers, we are allocating additional resources to this large commercial opportunity. We believe the clinical and financial value our technology provides this targeted population will help drive its adoption by additional VA medical centers. As we look out longer term, we expect the VHA system to serve as a major factor in our ability to develop the U.S. market for the Pure-Vu EVS system.”

 

There were approximately 645,000 colonoscopies performed at approximately 170 VA medical centers over the last three years. This patient population often sees higher rates of inadequate bowel preparation, travel longer distances for care, and experience longer average wait times. Additionally, the VA medical centers have a strong desire to provide improved care for their patients and are penalized for referring procedures outside of the VA system. Ensuring a high-quality procedure, the first time is a top priority.

 

“One of the unique characteristics of the VA health care system is they are not beholden to the reimbursement policies of third-party payers, and therefore physicians are able to use our Pure-Vu EVS system for both inpatient and outpatient procedures. Our aim is to enable the highest quality care for veterans and we are excited to continue to invest in this relationship moving forward,” said Mr. Moran. 

 

 

 

 

A picture containing object

Description generated with very high confidence

 

About Motus GI

 

Motus GI Holdings, Inc. is a medical technology company, with subsidiaries in the U.S. and Israel, providing endoscopy solutions that improve clinical outcomes and enhance the cost-efficiency associated with the diagnosis and management of gastrointestinal conditions.

 

For more information, visit www.motusgi.com and connect with the Company on Twitter, LinkedIn and Facebook.

 

Forward-Looking Statements

 

This press release contains certain forward-looking statements. Forward-looking statements are based on the Company’s current expectations and assumptions. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. These statements may be identified by the use of forward-looking expressions, including, but not limited to, “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” “potential,” “predict,” “project,” “should,” “would” and similar expressions and the negatives of those terms, including without limitation, risks related to the continued impact of the COVID-19 pandemic, risks inherent in the development and commercialization of potential products, possible or assumed future results of operations, business strategies, potential grow opportunities, uncertainty in the timing and results of clinical trials or regulatory approvals, maintenance of intellectual property rights or other risks discussed in the Company’s quarterly and annual reports filed with the Securities and Exchange Commission, and its other filings with the Securities and Exchange Commission. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

 

Investor Contact:

 

Troy Williams

LifeSci Advisors

(518) 221-0106

twilliams@lifesciadvisors.com

 

 

 

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