Surgical Innovations Group PLC
25 June 2007
Press Release 25 June 2007
Surgical Innovations Group plc
('Surgical Innovations' or 'the Group')
AGM Statement and Trading Update
Surgical Innovations Group plc ('AIM:SUN'), the designer and manufacturer of
innovative surgical devices, will be holding its Annual General Meeting today at
13:00 hrs in the Weetwood Hall Hotel, Leeds, West Yorkshire.
At the meeting Doug Liversidge, Non-Executive Chairman, will provide the
following trading update:
'After our eighth successive year of record performance, we approach this year
and beyond with both enthusiasm and excitement. The Group in 2007 is focused on
further strengthening recurring income from its core products, including the
recently launched YelloPort Plus, and also on developing its presence in the US
market.
Having established successful relationships and clear routes to market in the US
with several major suppliers of surgical procedural trays, we are currently in
advanced contract negotiations to establish a master dealer that will service
this potentially lucrative channel.
Emphasis continues in the US with YelloPort Plus, our advanced laparoscopic port
access system. Extensive evaluations have been and continue to be carried out
within several leading US hospitals. I look forward to reporting further on
this later in the year.
Both the QuickRange of fully disposable instruments and the YelloPort port
access systems continue to grow in prominence. We recently signed a new
contract with our Greek distributor, Surgilife Ltd, for £545,000 to supply
primarily the QuickRange over a three year period. In addition, Surgical
Innovations has agreed to supply its products exclusively to Thebe Medical (Pty)
Ltd, a South African healthcare group, as part of a three year contract for
£406,000 of which a significant amount will relate to YelloPort Plus.
Following the recent placing which raised £4 million before expenses, the launch
of YelloPort Plus and our continuing successes in the US market, the Directors
believe that the Group is well placed to achieve our objectives of delivering
improved profitability and enhanced shareholder value and we look forward to
building a solid platform to support the future growth of Surgical Innovations.'
- Ends -
For further information:
Surgical Innovations Group plc
Doug Liversidge, Non-Executive Chairman Tel: +44 (0) 113 230 7597
www.sigroupplc.com
Hanson Westhouse Limited
Tim Feather / Matthew Johnson Tel: +44 (0) 113 246 2610
tim.feather@hansonwesthouse.com www.hansonwesthouse.com
Abchurch Communications
Emma Johnson / Justin Heath Tel: +44 (0) 113 203 1340
emma.johnson@abchurch-group.com www.abchurch-group.com
Notes to Editors:
Surgical Innovations Group plc specialises in the design and manufacture of
innovative devices for use in minimally invasive surgery and industrial markets.
The Group employs over 50 people and is headquartered in Leeds.
The Group's medical division is focused on strong international growth in two
specialist areas namely minimally invasive surgery, where products are used in
'keyhole' surgery which is more accurately known as laparoscopic surgery, and
products for autologous blood transfusion whereby a patient's own blood is
recycled.
The Group's industrial division utilises Surgical Innovations' core medical
device design expertise and technology in innovative engineering applications.
For more information, see www.sigroupplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
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