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31 May 2012 07:00
Surgical Innovations Group plc
("SI" or the "Company")
UK distribution agreement with Elemental Healthcare
Surgical Innovations Group plc (AIM: SUN), the designer and manufacturer of creative solutions for minimally invasive surgery ('MIS'), announces that it has signed a five year extension to its distribution agreement with UK distributor Elemental Healthcare Ltd ('Elemental').
The agreement, which is based on minimum contracted volumes, will be worth £5m over the five years and provides Elemental with continued exclusive distribution rights to SI's entire product portfolio within Great Britain under the SI brand.
The extension marks the continuation of a relationship that began in 2007 and provides the Board with confidence for the full year. Over this time SI has established strong links between Elemental and its design team and Clinical Advisory Board to identify the surgical needs for new innovative technologies and update its existing product portfolio.
Graham Bowland, Chief Executive Officer of SI, said: "We are very pleased to reinforce our relationship with Elemental and Great Britain is an important market for us where our Resposable® products offer the NHS significant costs savings over expensive disposable instruments. According to a study carried out by Elemental into the use of our YelloPort+plus™ products, hospitals that switched from disposable to Resposable® saved over £100,000 over 500 procedures as well as producing less clinical waste."
Adam Power, Managing Director of Elemental, said: "As a leading distributor of solutions for minimally invasive surgery we are delighted to extend our agreement with SI, whose innovative products reduce the overall cost of surgical intervention; a key driver in the UK market."
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Enquiries:
Surgical Innovations Group plc | www.surginno.com |
Doug Liversidge, Non-Executive Chairman |
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Graham Bowland, Chief Executive Officer | Tel: +44 (0) 113 230 7597 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 |
Fiona Henson | Mob: 07886 335 992 or fiona.henson@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
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