Last checked at 29 Oct 2012 07:00
Surgical Innovations Group plc
("SI" or the "Company")
First orders of PretzelFlex® shipped under CareFusion agreement
Surgical Innovations Group plc (AIM: SUN), a designer and manufacturer of creative solutions for minimally invasive surgery ('MIS'), announces it has shipped the first batch of PretzelFlex® devices under the CareFusion distribution agreement with a second batch to be shipped in December.
PretzelFlex® has been developed by Surgical Innovations for the effective elevation or retraction of organs and tissue during MIS procedures to provide better access as well as visualisation of surgical sites. The device has a slim line shaft that can be inserted through a 5mm port access system. Then, once inside the abdomen it forms into the innovative pretzel shape when deployed by the surgeon. The device was granted 510(k) clearance from the US FDA in March 2012.
In June, SI announced an eight-year distribution agreement with CareFusion, a leading, global medical device company, giving them exclusive rights to sell PretzelFlex® in the US. The device will be marketed in the US under the CareFusion brand and SI will retain the right to manufacture and distribute the device under the SI brand in all other markets.
Graham Bowland, Chief Executive Officer, commented: "We are extremely pleased to announce the first shipment of the PretzelFlex® device in accordance with agreed delivery dates. The American College of Surgeons congress in Chicago was a great success with substantial interest in the device from attending surgeons of all nationalities. With our distribution agreement with CareFusion, we are confident that this product will be the retractor of choice with US surgeons."
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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 |
Mark Percy (Corporate Finance) | Tel: +44 (0) 20 7107 8000 |
David Banks (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 |
Lianne Cawthorne | Mob: 07584 391 303 or lianne.cawthorne@walbrookpr.com |
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.sigrouplplc.com