MDGS - Medigus pops on Smart Repair's new $4M fitness toys brand acquisition

Medigus (MDGS) recently acquired data-driven subsidiary Smart Repair Pro has signed an agreement to purchase assets of a leading fitness toys brand in its category on the Amazon Marketplace. The purchase price is agreed to $4M, out of which 80% of the purchase price, or $3.2M, will be financed by Medigus as a loan to Smart Repair Pro.Established in Aug. 2019, fitness toys brand generated $2.5M in 2020 revenues with a net profit of ~$942K at a margin of 40%. Should all agreements be finalized, Smart Repair Pro estimates a $10M in revenues in 2021 with ~40% net profit.The purchase comes in addition to additional two new brands recently acquired by Smart Repair Pro. On completion of the deals, Smart Repair Pro and Purex combined will own and operate 6 different brands on the Amazon Marketplace.Stock is up 2.3% premarket.Earlier, Medigus closes acquisition of controlling interest in Smart Repair Pro and Purex.

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Medigus pops on Smart Repair's new $4M fitness toys brand acquisition