Surgical Innovations (SI) has announced that it has signed a five year extension to its distribution agreement with UK distributor Elemental Healthcare.
The agreement, which is based on minimum contracted volumes, will be worth £5m over the five years and provides Elemental with continued exclusive distribution rights to SI's entire product portfolio within Great Britain under the SI brand.
The extension marks the continuation of a relationship that began in 2007 and provides the Board with confidence for the full year. Over this time SI has established strong links between Elemental and its design team and Clinical Advisory Board to identify the surgical needs for new innovative technologies and update its existing product portfolio.
Graham Bowland, Chief Executive Officer of SI, said: "We are very pleased to reinforce our relationship with Elemental and Great Britain is an important market for us where our Resposable® products offer the NHS significant costs savings over expensive disposable instruments. According to a study carried out by Elemental into the use of our YelloPort+plus™ products, hospitals that switched from disposable to Resposable® saved over £100,000 over 500 procedures as well as producing less clinical waste."
Adam Power, Managing Director of Elemental, said: "As a leading distributor of solutions for minimally invasive surgery we are delighted to extend our agreement with SI, whose innovative products reduce the overall cost of surgical intervention; a key driver in the UK market."