Stocking order under Surgioscopy agreement

RNS Number : 1800S

Surgical Innovations Group PLC

05 November 2013

 



Surgical Innovations Group plc

("SI" or the "Group" or the "Company")

Stocking order under Surgioscopy agreement

Surgical Innovations Group plc (AIM: SUN), the designer and manufacturer of creative solutions for minimally invasive surgery ('MIS'), announces it has received and dispatched an initial stocking order from Surgioscopy worth a total of  £141,000.

SI announced in its recent Interim Results Statement the appointment of Surgioscopy. The three year agreement with Surgioscopy reflects the continuing expansion of SI's US network of distributors and underpins SI's growth strategy in the US market. Surgioscopy will promote both SI's Logi^TM and YelloPort+plus^TM product lines across 10 mid-west states from Texas to Minnesota.

Owner and President of Surgioscopy, Dave Shaw, commented: "We couldn't be more pleased to have garnered a relationship with Surgical Innovations and look forward to a long and prosperous future as we develop the SI brand across our 10 US states. In today's economic environment and marketplace that we find ourselves in, new technology that combines better patient outcomes with lower acquisition costs is of paramount importance. This is why hospitals are constantly searching for ways to save money and reduce costs through products, such as SI's, that identify those issues."

Graham Bowland, Chief Executive for Surgical Innovations, said: "We are delighted to have now shipped Surgioscopy's initial stocking order. Surgioscopy is an integral part of our portfolio of US distributors and with a key state such as Texas now represented I look forward to a further increase in SI Brand presence within the US market." 

Rick Barnett, Surgical Innovations President of US Sales and Operations, remarked: "I am very excited to have Surgioscopy as our new partner. They have a great amount of experience in the minimally invasive surgical space and will do very well with the Surgical Innovation product line. This relationship fits within our expansion strategy for the United States."

Enquiries:

Surgical Innovations Group plc		Tel: [phone]
Graham Bowland, Chief Executive Officer		[e-mail]
Panmure Gordon (Nominated Advisor & Broker)		Tel: [phone]
Fred Walsh / Freddy Crossley (Corporate Finance)
Adam Pollock (Corporate Broking)
Walbrook PR Ltd	Tel: [phone] or [e-mail]
Paul McManus	Mob: [phone]
Lianne Cawthorne	Mob: [phone]

Notes to Editors:

About Surgical Innovations Group plc - www.sigroupplc.com

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 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 distribution partners, Surgical Innovations branded products are sold in major medical markets including North America, Britain, South East Asia, Australasia and the Indian subcontinent.
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.
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.

For more information, see www.sigrouplplc.com

 

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