Press Release 19 September 2005
Surgical Innovations Group plc
Agreement with Rolls-Royce for
aero engine inspection technology
Surgical Innovations Group plc ('Surgical') ('AIM: SUN'), the designer and
manufacturer of innovative surgical devices, is pleased to announce that it has
signed an agreement with Rolls-Royce plc to develop instruments for use in the
repair, overhaul and maintenance of aero engines.
Surgical's design team, working in conjunction with Rolls-Royce engineers, has
designed and developed patented inspection devices which incorporate advanced
surgical instrument technology. These devices facilitate access to locations
that are three-dimensionally displaced from the original entry point, enabling
the inspection of internal components of an engine whilst it is installed onthe
aircraft. This obviates the need to strip the engine down, in the same way that
keyhole surgery eliminates the need to open up the body.
Surgical plans to support up to five projects a year. Each project undertaken
will be for the design of an instrument for a specific procedure on a
particular engine. Over the course of the agreement, revenue will be generated
by the design process and device sales resulting from each project.
In addition, Surgical will receive £800,000 over the ten-year agreement period
for licensing fees and access to technology. Half of this revenue should be
received within two years, with the remainder being received via annual
payments.
Commenting on the agreement, Doug Liversidge CBE, Chairman of Surgical
Innovations Group plc, said: 'Our agreement with Rolls-Royce represents a
significant and innovative step forward for Surgical Innovations. The strength
of our design team is enabling us to adapt our technologies for use in other
industries.'
In addition to aero engines, Surgical is actively seeking significant
partnerships in the airframe, energy and nuclear, petrochemical and offshore
sectors.
For further information:
Surgical Innovations Group plc
Doug Liversidge CBE, Chairman Tel: +44 (0) 779 889 2918
Stuart Moran, Technical Director Tel: +44 (0) 771 561 2064
stuart.moran@surginno.co.uk www.sigroupplc.com
Westhouse Securities
Tim Feather Tel: +44 (0) 161 838 9140
tim.feather@westhousesecurities.com www.westhousesecurities.com
Media enquiries:
Abchurch
Sarah Hollins Tel: +44 (0) 113 203 1340
Justin Heath www.abchurch-group.com
sarah.hollins@abchurch-group.com
NOTES TO EDITORS
Surgical Innovations Group plc
Surgical Innovations Group plc was formed in 1998 through a merger of Haemocell
plc and Surgical Innovations Limited. Headquartered in Leeds, the Group employs
over 40 people and specialises in two key areas:-
* Autologous Blood Transfusion (ABT)
Products for recycling patients' own blood.
* Minimally Invasive Surgery (MIS)
Products used in 'keyhole' surgery, more accurately known as laparoscopic
surgery.
For the year ended 31 December 2004, Group turnover increased to £3.03m (£
2.75m) with a pre-tax profit to £174,000 compared to £136,000 in the previous
year.
Rolls-Royce plc
Rolls-Royce operates in four global markets - civil aerospace, defence
aerospace, marine and energy. It is investing in technology and capability that
can be exploited in each of these sectors to create a competitive range of
products. The success of these products is demonstrated by the company's rapid
and substantial gains in market share over recent years. The Company now has a
total of 54,000 gas turbines in service worldwide. Rolls-Royce has a broad
customer base.
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