Surgical Innovations Regulatory News (SUN)

25 Jun 2007 12:00

Surgical Innovations Group PLC25 June 2007 Press Release 25 June 2007 Surgical Innovations Group plc ("Surgical Innovations" or "the Group") AGM Statement and Trading Update Surgical Innovations Group plc ("AIM:SUN"), the designer and manufacturer ofinnovative surgical devices, will be holding its Annual General Meeting today at13:00 hrs in the Weetwood Hall Hotel, Leeds, West Yorkshire. At the meeting Doug Liversidge, Non-Executive Chairman, will provide thefollowing trading update: "After our eighth successive year of record performance, we approach this yearand beyond with both enthusiasm and excitement. The Group in 2007 is focused onfurther strengthening recurring income from its core products, including therecently launched YelloPort Plus, and also on developing its presence in the USmarket. Having established successful relationships and clear routes to market in the USwith several major suppliers of surgical procedural trays, we are currently inadvanced contract negotiations to establish a master dealer that will servicethis potentially lucrative channel. Emphasis continues in the US with YelloPort Plus, our advanced laparoscopic portaccess system. Extensive evaluations have been and continue to be carried outwithin several leading US hospitals. I look forward to reporting further onthis later in the year. Both the QuickRange of fully disposable instruments and the YelloPort portaccess systems continue to grow in prominence. We recently signed a newcontract with our Greek distributor, Surgilife Ltd, for £545,000 to supplyprimarily the QuickRange over a three year period. In addition, SurgicalInnovations has agreed to supply its products exclusively to Thebe Medical (Pty)Ltd, a South African healthcare group, as part of a three year contract for£406,000 of which a significant amount will relate to YelloPort Plus. Following the recent placing which raised £4 million before expenses, the launchof YelloPort Plus and our continuing successes in the US market, the Directorsbelieve that the Group is well placed to achieve our objectives of deliveringimproved profitability and enhanced shareholder value and we look forward tobuilding a solid platform to support the future growth of Surgical Innovations." - Ends - For further information:Surgical Innovations Group plcDoug Liversidge, Non-Executive Chairman Tel: +44 (0) 113 230 7597 www.sigroupplc.com Hanson Westhouse LimitedTim Feather / Matthew Johnson Tel: +44 (0) 113 246 2610tim.feather@hansonwesthouse.com www.hansonwesthouse.com Abchurch CommunicationsEmma Johnson / Justin Heath Tel: +44 (0) 113 203 1340emma.johnson@abchurch-group.com www.abchurch-group.com Notes to Editors: Surgical Innovations Group plc specialises in the design and manufacture ofinnovative devices for use in minimally invasive surgery and industrial markets.The Group employs over 50 people and is headquartered in Leeds. The Group's medical division is focused on strong international growth in twospecialist areas namely minimally invasive surgery, where products are used in'keyhole' surgery which is more accurately known as laparoscopic surgery, andproducts for autologous blood transfusion whereby a patient's own blood isrecycled. The Group's industrial division utilises Surgical Innovations' core medicaldevice design expertise and technology in innovative engineering applications. For more information, see www.sigroupplc.com This information is provided by RNS The company news service from the London Stock Exchange