Re Agreement

RNS Number : 8595K

Surgical Innovations Group PLC

22 July 2011

 



For immediate release

22 July 2011

Surgical Innovations Group plc

("SI" or "the Group")

SI extends distribution agreement with SI US for a further 5 years

Surgical Innovations Group plc (AIM: SUN), the designer and manufacturer of innovative medical devices, announces that it has signed a 5 year extension to its agreement with SI US, the Group's exclusive US Master distributor.  In order to maintain exclusive rights, SI US has committed to distribute SI branded products to a minimum value of $8.0 million to Surgical Innovations over the 5 year period.

SI US will distribute the Logi®Range and LogiCut® product range together with the reusable line and has been granted first refusal to all future SI branded products within the agreement period. The Group retains the right to manufacture and distribute all devices under the SI brand in all other markets.

Graham Bowland, Chief Executive Officer of SI, said: "This agreement extension with SI US strengthens the Group's strategy of developing its Resposable® portfolio in the strategically important US market and gives us confidence for the future.  We look forward to developing our partnership with SI US over the next 5 years."

Enquiries:

Surgical Innovations Group plc

Doug Liversidge, Chairman

Graham Bowland, Chief Executive Officer                                                           Tel: [phone]

[e-mail]                                                                                  www.surginno.com

Seymour Pierce Limited

Freddy Crossley / Sarah Jacobs                                                                                 Tel: [phone]

Corporate Broking

Marianne Woods                                                                                                        www.seymourpierce.com

Media enquiries:

The Communications Portfolio

Ariane Comstive / Caolan Mahon                                                               Tel: [phone] / 2029

[e-mail]                                     Mob: [phone]

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 130 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.

For more information, see www.surginno.com 

 

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