Motus GI Shares Take Flight on Key Veterans Health Designations

By Colin Kellaher

Shares of Motus GI Holdings Inc. surged nearly 60% in early trading Thursday after the medical-technology company said it received sole-source provider and small-business designations from the Veterans Health Administration.

The Fort Lauderdale, Fla., company said the designations give it direct access to the agency's procurement arm, which it said streamlines the purchasing and contracting process.

Motus GI said it has already executed multiple contracts with Veterans Affairs medical centers under the sole-source-supplier designation for its Pure-Vu EVS system, with additional centers under evaluation.

Motus GI shares were recently changing hands at $3.70, up about 58%.

Write to Colin Kellaher at [e-mail]

(END) Dow Jones Newswires

09-29-22 1012ET