Medical Device Company Motus GI Appoints Shervin Korangy To Board Of Directors

NEW HOPE, PA, May 15, 2017 – Motus GI Holdings, Inc. (“Motus” or the “Company”), a medical device company dedicated to improving colonoscopy outcomes and experiences, today announced that it has appointed Shervin Korangy to the Company’s Board of Directors where he will also serve as Audit Committee Chair.

Mr. Korangy is a seasoned executive with broad expertise, having more than 20 years of experience in investing and operating roles across a wide range of industries. He currently serves as the Chief Financial Officer and Chief Strategy Officer of Beaver-Visitec International (“BVI”), a leading global developer, manufacturer and marketer of surgical devices for the ophthalmic marketplace. Prior to his appointment at BVI, Mr. Korangy was a senior executive at Novartis Group AG (NYSE: NVS), where he served as the Global Head of Corporate Finance as well as several general management assignments in multiple countries. Prior to joining Novartis in 2010, Mr. Korangy served as a Managing Director at The Blackstone Group (NYSE: BX), where he spent approximately 15 years splitting time in the firm’s restructuring and private equity businesses. He currently serves on the Board of Directors of Pelican Rouge BV and has previously served on several corporate boards.

“Shervin’s diverse experience, financial acumen and strategic expertise are welcome additions to our Board of Directors at such an important time in Motus’ corporate development,” noted David Hochman, the Company’s Chairman of the Board. “We believe he can help us chart a thoughtful path to sustainable growth as we look to build the long-term value of the Pure-Vu™ technology and start to scale the organization.”

“I believe the Pure-Vu™ system can potentially have a transformative impact on the colonoscopy procedure for patients, physicians and payers,” said Mr. Korangy. “A carefully executed approach to strategic market entry with the Pure-Vu™ system can position the Company for substantial future growth leveraging this innovative product. I look forward to working with the other members of the board and the Motus management team to further advance the Company’s corporate, development and commercialization strategies over time.”

About Motus GI

Motus GI Holdings, Inc. is a medical technology company with subsidiaries in the U.S. and Israel. The Company was spun out of the NGT incubator located in Israel in 2011 by Orchestra Medical Ventures. The Company is focused on the development and commercialization of the Pure-Vu™ system to improve the colonoscopy experience for physicians, patients and payers by enhancing the quality and cost-effectiveness of the exam. The Pure-Vu™ system integrates with standard colonoscopes to perform intra-procedural cleaning of a poorly prepared colon, thereby reducing the sole dependency on a successful pre-procedural prep regimen to gain clear visualization of the colon mucosa. For more information, visit www.motusgi.com.

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