Motus GI Rockets After Named Sole Supplier By U.S. Department Of Veteran Affairs

Shares of Motus GI Holdings, Inc. (MOTS) are surging more than 38% Thursday morning after the company said it is now officially recognized as a sole source provider and small business by the U.S. Department of Veteran Affairs, Veterans Health Administration (VHA).

Motus GI, a medical technology company, develops Pure-Vu system, a medical device to facilitate the cleaning of a poorly prepared gastrointestinal tract during the colonoscopy and facilitates upper gastrointestinal endoscopy procedure.

VHA is the largest integrated health care system in the U.S. providing care to over nine million veterans, the company said.

These special designations give the company direct access to VHA's procurement division, 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 of its Pure-Vu EVS System to help veterans suffering from inadequate pre-procedural bowel preparation for colonoscopy.

MOTS, currently at $3.22, has traded in the range of $2.27-$16.00 in the last 1 year.

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