14 Feb 2011 07:00
For immediate release | 14 February 2011 |
Surgical Innovations Group plc
("SI" or "the Group")
Surgical Innovations signs four year contract with Mediflex
Surgical Innovations Group plc (AIM: SUN), the designer and manufacturer of innovative medical devices, is pleased to announce a four year exclusive contract with US basedMediflex Surgical Products ("Mediflex") over the inclusion of YelloPort+plus® in surgical trays in the US. The contract is valued at a minimum of $2.2 million over four years.
Graham Bowland, Chief Executive Officer of SI, said: "The partnership with Mediflex broadens the distribution of YelloPort+plus® into the large and strategically important US market. We are looking forward to working with Mediflex to help surgeons in the US perform less invasive surgery in a cost effective way."
Jonathan Adler, President of Mediflex, commented: "We are extremely excited to be working alongside SI in developing our Laparo-Logix™ tray system. The agreement creates an exciting partnership between two leaders in design and manufacturing of surgical instruments and technologies."
Further to the above, SI is making progress across a number of product lines with several potential US customers. Although at present it is difficult to determine the eventual structure, timing and value of revenue streams that will be generated, the Board will continue to keep shareholders updated on progress.
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Enquiries:
Surgical Innovations Group plc
Doug Liversidge, Chairman
Graham Bowland, Chief Executive Officer Tel: +44 (0) 113 230 7597
graham.bowland@surginno.co.uk www.surginno.com
Seymour Pierce Limited
Freddy Crossley / Sarah Jacobs Tel: +44 (0) 20 7107 8000
Corporate Broking
Marianne Woods www.seymourpierce.com
Media enquiries:
The Communications Portfolio
Ariane Comstive / Caolan Mahon Tel: +44 (0) 20 7536 2028 / 2029
ariane.comstive@communications-portfolio.co.uk Mob: +44 (0) 7785 922 354
Notes to Editors:
About Surgical Innovations Group plc
Surgical Innovations Group plc specialises in the design and manufacture of innovative devices for use in 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 100 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 45 distribution partners, Surgical Innovations branded products are sold in all major medical markets including North America, Europe, South Africa, the Middle East, South-east Asia and Australia. |
OEM | The Group supplies large medical device companies on an OEM basis, collecting sales fees as well as IP license and royalty fees. Clients include Teleflex Medical, Gyrus and CareFusion. |
Industrial
| SI's patented segment technology has been applied to the industrial market enabling customers to undertake inspection and maintenance of large-scale equipment, such as turbines, in situ with minimum disassembly and downtime. |
For more information, see www.surginno.com
About Mediflex® Surgical Products
Mediflex Surgical Products is a leader in the design, manufacturing, and distribution of surgical devices including Laparoscopic Holding & Positioning Devices, Laparoscopic & Table-Mounted Retractors, and Instruments for General Laparoscopic and Bariatric Surgery.
Through collaboration with world famous surgeons such as John Bookwalter, M.D., Mel Greenberg, M.D., and others, Mediflex has been able to offer cutting edge surgical devices which meet the stringent demands of surgeons throughout the world, with virtually all products manufactured in the United States.
Mediflex seeks to enter into long term partnerships with highly qualified medical products distributors both in the United States and world-wide. Mediflex strives to support its far reaching distributors with the tools to allow them to successfully sell its products to today's most demanding hospitals and doctors.
For more information, see www.mediflex.com
Surgical Innovations (SUN)