New exclusive UK distribution agreements secured

Surgical Innovations Group PLC

18 April 2024

 

Surgical Innovations Group plc

("Surgical Innovations", the "Company", or the "Group")

New exclusive UK distribution agreements secured

Five-year contract signed with Microline Surgical

Three-year deal confirmed with Peters Surgical

Surgical Innovations Group plc (AIM: SUN), the designer, manufacturer and distributor of innovative technology for minimally invasive surgery, announces it has agreed two new UK distribution contracts. The first is a five-year exclusive contract with Microline Surgical Inc ("Microline"), Boston, USA, and the second is a three-year exclusive arrangement with Peters Surgical (Peters), based in Paris, France.

The new agreement with Microline continues a relationship which started in 2007 with Elemental distributing the Microline portfolio of products in the UK. The new contract continues the distribution of Microline products by Elemental for a further five years and, at the current run rate, will be worth an estimated £9m in sales over the period of the contract. In 2021, the relationship with Microline was expanded under a separate five-year contract lasting into H1 2026, for the distribution of Surgical Innovations' YelloPort access devices in the USA via Microline's local direct sales team.

Elemental's agreement with Peters has an estimated sales value in excess of £1.5m over the contract period. It was announced in March 2024 that Advanced Medical Solutions plc (AMS), with whom Surgical Innovations has a trading relationship dating back to 2014, has entered into an agreement for the proposed acquisition of Peters Surgical. SI designed, and continues to manufacture, AMS's Fix8 laparoscopic glue device for the fixation of hernia mesh.

David Marsh, CEO of Surgical Innovations Group plc, said: "The renewal of both these agreements is a clear demonstration of the confidence that suppliers have in our UK Elemental sales team. The strength of these relationships is further underpinned through Microline and Peters' existing agreements to distribute Surgical Innovations branded products in the USA and India respectively."

About Microline Surgical Inc

Microline Surgical is a medical technology company specializing in the design, development, and manufacture of advanced surgical instruments. Microline Surgical offers a diverse range of surgical instruments, including graspers, dissectors, scissors, and specialized instruments tailored to specific surgical procedures. These instruments are designed to enhance surgical outcomes, improve customer's sustainability results, and reduce to cost of care. While the company is headquartered in the United States, it serves a global customer base, supplying surgical instruments to healthcare facilities and professionals worldwide.

About Peters Surgical

Peters Surgical is a manufacturer and distributor of high-quality surgical closure devices including sutures, titanium clips, clamps and surgical glues. The portfolio is focused on surgical specialties in the Cardiovascular ''CV'', Visceral, and Digestive Urology and Gynaecological ("DUG") surgical indication areas. Headquartered in France, Peters Surgical was founded in 1926 and today employs approximately 650 people around the world. Peters Surgical operates a fully integrated business model including research and product development, regulatory and clinical affairs, device manufacture, distribution, commercial and after-sales service. It owns manufacturing facilities in France, Thailand, India and Germany. Peters Surgical sells products in over 90 countries with direct sales infrastructure in France, USA, Germany, India, Poland and Belgium; and with a hybrid sales model in the APAC region.

For further information please contact:

Surgical Innovations Group plc	www sigroupplc com
David Marsh, CEO	Tel: [phone]
Singer Capital Markets (Nominated Adviser & Broker)		Tel: [phone]
Aubrey Powell / Oliver Platts
Walbrook PR (Financial PR & Investor Relations)	Tel: [phone] or [e-mail]
Paul McManus / Charlotte Edgar	Mob: [phone]

About Surgical Innovations Group plc

The Group specialises in the design, manufacture, sale and distribution of innovative, high quality medical products, primarily for use in minimally invasive surgery. Our product and business development is guided and supported by a key group of nationally and internationally renowned surgeons across the spectrum of minimally invasive surgical activity.

We design and manufacture and source our branded port access systems, surgical instruments and retraction devices which are sold directly in the UK home market through our subsidiary, Elemental Healthcare, and exported widely through a global network of trusted distribution partners. Many of our products in this field are based on a "resposable" concept, in which the products are part reusable, part disposable, offering a high quality and environmentally responsible solution at a cost that is competitive against fully disposable alternatives.

Elemental also has exclusive UK distribution for a select group of specialist products employed in laparoscopy, bariatric and metabolic surgery, hernia repair and breast reconstruction.

In addition, we design and develop medical devices for carefully selected OEM partners and have also collaborated with a major UK industrial partner to provide precision engineering solutions to complex problems outside the medical arena.

We aim for our brands to be recognised and respected by healthcare professionals in all major geographical markets in which we operate and provide by development, partnership or acquisition a broad portfolio of cost effective, procedure specific surgical instruments and implantable devices that offer reliable solutions to genuine clinical needs in the operating theatre environment.

Further information

Further details of the Group's businesses and products are available on the following websites:

www.sigroupplc.com

www.surginno.com

www.elementalhealthcare.co.uk

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