4 MEA MARKETS / Q3 2020 NEWS , MEAMARKETS / Q3 2020 5 NEWS The public company Merchavia Holdings and Investments reports that Cardiacsense Ltd., in which the company has a holding of 5.67% of the share capital (at full dilution), has signed an exclusive distribution agreement valued at USD 7.5 million to distribute the company’s medical wristwatches in the UAE. This is the tenth distribution agreement that Cardiacsense has signed since March 2020, bringing the total value of the agreements signed to more than USD 70 million. Cardiacsense, that develops and markets the Cardiacsense Watch, a wearable watch-like device for scanning arrythmia using an innovative technology for early identification of cardiac arrest and CVA (stroke), has signed an exclusive distribution agreement in the UAE which includes an undertaking to market tens of thousands of devices valued at USD 7.55 million over a period of 4 years. The distributing company operates out of Dubai and engages in the distribution of medical equipment in the UAE. Since March this year, Cardiacsense has promoted a large number of binding distribution agreements in a range of countries worldwide including Spain, Turkey, Uruguay, Australia, South Africa, Chile, India, Switzerland, and now, with the establishment of diplomatic relations with Israel, also in the UAE. The agreements are subject to European CE marketing approval or FDA approval for the medical wristwatch. In accordance with the distri- bution agreement, the distributor will strive to market and sell the medical watches and will be obligated to meet Cardiacsense’s annual acquisition goals for a period of four years. At the same time, Cardiacsense is advancing FDA approval for the med- ical watch following a successful clinical trial which achieved an efficacy level of more than 99% in identifying arrythmia, while the regulatory re- quirement for receiving FDA approval stands at 96%. FDA approval will allow the company to sell the product in additional countries, primarily on the American market. Among the capabilities of the company’s medical watches are identification of arrhythmia including atrial fibrillation which constitutes one of the main causes of CVA. Makor Group (“Makor”), an international Financial ser- vices corporation, is pleased to announce the appoint- ment of Mr. Daniel Nevo as the new Vice President of Makor’s Investment banking Middle East Operations, based in Tel Aviv. Mr. Nevo will be joining Makor to fo- cus on the Group’s continued global expansion, focusing on the development of its Technology & Investment Banking Division. “With the recent opening of diplomatic and commercial channels between Israel and the UAE, we at Makor are excited to seize the new growth opportunities within the region,” said Makor Group founder Michael Halimi. “To that end, I am very pleased to be wel- coming Daniel [Nevo] to the Makor family. His extensive political and diplomatic experience within the region will undoubtedly prove itself to be a fantastic asset for the team.” Nevo joins Makor bringing with him decades of diplomatic and for- eign affairs experience. As former Ambassador of Israel in Jordan (2009 – 2015), he has been credited with developing the relation - ship between the two neighboring countries. Nevo began his career in 1985. Having completed his military ser- vice in Israel and graduated from the Hebrew University in Jerusa- lem with a Bachelor in Jewish History and Geography, he joined the Israeli Ministry of Foreign Affairs. In 1986, he became Advis- er to the Israeli diplomatic mission to the United Nations. In 1988, Nevo joined the Israeli Consulate in Sydney, Australia. Through this period, he also boasts experience as a Coordinator for the Refu- gee Working Group (1993 – 1995) and Coordinator for Multilateral Peace Talks, a post he took up from 1996. In 2000, Nevo moves to Amman, Jordan, to join the Israeli Embassy, where he works in a variety of posts including Charge D’Affaires (2005 – 2006) and Di - rector of Multilateral Peace Talks for Coordination and Water Issues (2007 – 2009), culminating in his appointment as Ambassador. New Additions Innovative Israeli Medical Devices Cardiacsense, from the investment group of the publicly traded Merchavia Corporation, has signed an exclusive distribution agreement in the UAE valued at USD 7.5 million. Since March 2020, Cardiacsense has signed distribution agreements with an estimated total value of USD 70 millio. The medical wristwatches for identifying arrythmia have demonstrated efficacy of more than 99% in identifying arrythmia, and are expected to receive marketing approvals in Europe (CE) and approval from the FDA. Makor Group hires new Vice President For Middle East Operations, Daniel Nevo.