Last checked at 19 Jun 2012 07:00
Surgical Innovations Group plc
("SI" or the "Company" or the "Group")
AGM Statement
Surgical Innovations Group plc (AIM: SUN), the designer and manufacturer of creative solutions for minimally invasive surgery ('MIS'), will hold its Annual General Meeting today at 2:00pm at Clayton Wood House, 6 Clayton Wood Bank, Leeds LS16 6QZ, during which the Chairman, Doug Liversidge CBE, will make the following statement:
"The Group has continued to promote its own SI branded products and encourage OEM relationships in its core market of minimally invasive surgery. We have also continued our investment in product development to ensure a continual stream of innovative products for our distribution network. Significantly we remain on target to launch pre-production devices for hip arthroscopy in the third quarter of 2012.
Since the year end, we have signed an eight-year exclusive distribution agreement with CareFusion (NYSE: CFN), a leading, global medical device company, for our new advanced PretzelFlex® laparoscopic retractor in the US.
We remain committed to expanding within the US market and the recent launch of the Vikon branded laparoscopic instrument range for Integrated Medical Systems Inc. providesa further opportunity of gaining traction in this lucrative market.
Encouragingly we are beginning to gain interest in our cost effective devices from the NHS as they continue to face pressures to produce annual savings of £20bn. In order to support this NHS activity we recently announced a five year contract extension with our distributor, Elemental Healthcare, worth £5m.
We remain confident about the future growth prospects of the business and look forward to reporting on the continuing success of the Group over the remainder of the year."
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Enquiries:
Surgical Innovations Group plc | www.sigroupplc.com |
Doug Liversidge, Non-Executive Chairman | Tel: +44 (0) 113 230 7597 |
Graham Bowland, Chief Executive Officer | graham.bowland@surginno.co.uk |
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Seymour Pierce Limited | www.seymourpierce.com |
Freddy Crossley / Sarah Jacobs (Corporate Finance) | Tel: +44 (0) 20 7107 8000 |
David Banks / Jacqui Briscoe (Corporate Broking) |
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Walbrook PR Ltd | Tel: +44 (0) 20 7933 8780 |
Paul McManus | Mob: 07980 541 893 or paul.mcmanus@walbrookpr.com |
Paul Cornelius | Mob: 07866 384 707 or paul.cornelius@walbrookir.com
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Notes to Editors:
About Surgical Innovations Group plc
Surgical Innovations Group plc specialises in the design and manufacture of creative solutions for minimally invasive surgery (MIS) and industrial markets.
As well as manufacturing single-use and reusable instruments for the laparoscopic market, the Group has pioneered its flagship Resposable® instrumentation combining both single use and reusable components, ensuring ongoing revenue streams and delivering the optimum procedure performance to cost ratio.
Over 120 people are employed at the Group's 32,000 square feet facility in Leeds, with in-house design, plastic injection moulding and manufacturing equipment, producing products to the highest quality standards.
The Group's patented products are sold through three main channels:
SI brand | Through an established network of distribution partners, Surgical Innovations branded products are sold in major medical markets including North America, Britain, South East Asia, Australasia and the Indian subcontinent.
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OEM and IP | The Group supplies large medical device companies on an OEM basis, generating both sales and IP royalty fees. Clients include Teleflex Medical, Olympus and CareFusion.
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Industrial
| SI's patented segment technology has been applied to the industrial market enabling customers to undertake inspection and maintenance of large-scale equipment, in situ with minimum disassembly and downtime.
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For more information, see www.surginno.com