AGM Statement

Tuesday, 19 June, 2012

Surgical Innovations Group plc, the designer and manufacturer of creative solutions for minimally invasive surgery ('MIS'), will hold 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, will make the following statement:


"The Group has continued to promote its own SI branded products and encourage OEM relationships in its core market of minimally invasive surgery. We have also continued our investment in product development to ensure a continual stream of innovative products for our distribution network. Significantly we remain on target to launch pre-production devices for hip arthroscopy in the third quarter of 2012. 


Since the year end, we have signed an eight-year exclusive distribution agreement with CareFusion, a leading, global medical device company, for our new advanced PretzelFlex® laparoscopic retractor in the US.


We remain committed to expanding within the US market and the recent launch of the Vikon branded laparoscopic instrument range for Integrated Medical Systems Inc. providesa further opportunity of gaining traction in this lucrative market.


Encouragingly we are beginning to gain interest in our cost effective devices from the NHS as they continue to face pressures to produce annual savings of £20bn. In order to support this NHS activity we recently announced a five year contract extension with our distributor, Elemental Healthcare, worth £5m.     


We remain confident about the future growth prospects of the business and look forward to reporting on the continuing success of the Group over the remainder of the year."