AGM Statement

RNS Number : 4028H
Surgical Innovations Group PLC
19 June 2013



Surgical Innovations Group plc

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


AGM Statement


Surgical Innovations Group plc (AIM: SUN), the designer and manufacturer of creative solutions for minimally invasive surgery ('MIS'), held its Annual General Meeting today at 2.00pm at Clayton Wood House, 6 Clayton Wood Bank, Leeds, LS16 6QZ, during which the Chairman, Doug Liversidge CBE, made the following statement:


"We are pleased to report that the Company is delivering on a number of key areas. In the UK, we are seeing strong demand for our YelloPort+plus™ valve and swingtop products where our cost effective solutions are proving appealing to Healthcare Trusts across the country, with cost reduction as a primary objective. Since the start of the financial year a further 15 hospitals have been converted to the YelloPort+plus™ system, including eight since we last updated shareholders in our Preliminary Results announcement on 9 April 2013. In addition eight hospitals were converted to using Logi™Cut scissors since the start of the year. It is worth noting that this increased success in our home market provides a helpful boost for our international growth prospects.


Our commitment to expand our US direct sales and marketing operations was confirmed by the appointment of Rick Barnett as President of US Sales and Operations. The US is a very important market for us, and we were pleased to announce our first new US dealer following Rick's appointment. Sales of our products through our US OEM partners are in-line with our expectations and we have been pleased with reports from CareFusion that evaluations of the 3mm PretzelFlex® have been positive. Sales of 5mm PretzelFlex® in the US are performing as expected and CareFusion have recently ordered additional complementary FastClamp™ stock.


We continue to expand our Clinical Advisory Board ('CAB') of national and international experts through two new appointments to the CAB since the year end. Not only are members of the CAB chosen as key opinion leaders in their respective fields and countries, they also provide the Group with invaluable clinical insight into the development of new products. As already reported, we have seen successful pilot testing of our hip arthroscopy prototype and we are pleased with the functionality of the product and our overall progress in this area. Furthermore, our development of a hernia mesh fixation device for Advanced Medical Solutions Group plc is progressing well and is in the final stages of testing and evaluation.


In May, we were also able to announce a further order of £210,000 from our long standing industrial partner to develop a non-medical application of our patented segment technology. If the development project is successful we expect to sell a number of these devices for this application in 2014.


Our performance since the start of the year has been encouraging, showing good growth across the business."




Surgical Innovations Group plc

Doug Liversidge, Non-Executive Chairman

Tel: +44 (0) 113 230 7597

Graham Bowland, Chief Executive Officer



Panmure Gordon (Nominated Advisor & Broker)

Freddy Crossley / Fred Walsh (Corporate Finance)

Tel: +44 (0) 20 7886 2500

Adam Pollock/ Victoria Boxall (Corporate Broking)




Walbrook PR Ltd

Tel: +44 (0) 20 7933 8780 or

Paul McManus

Mob: 07980 541 893

Lianne Cawthorne

Mob: 07584 391 303


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 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. 




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


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