REG - Surgical Innovations - Directorate Change <Origin Href="QuoteRef">SUNU.L</Origin>

Surgical InnovationsAnnouncement

30/09/2014 16:00

RNS Number : 0587T
Surgical Innovations Group PLC
30 September 2014

30 September 2014
Surgical Innovations Group plc
("Surgical Innovations" or the "Company")
Directorate Change
The Board of Surgical Innovations (AIM:SUN) announces the departure of Graham Bowland as the Company's Chief Executive Officer with immediate effect. Chief Financial Officer Mike Thornton has been appointed as the Company's Interim Chief Executive Officer.
The Company's Non-executive Directors have also unanimously agreed to waive their entitlements to receive any fees or other remuneration in respect of any services they provide to the Company after the date of this announcement until further notice as the Company focuses on cost savings and cash generation.
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For further information please contact:
Surgical Innovations Group plc

Doug Liversidge CBE, Non-executive Chairman
Tel: +44 (0) 113 230 7597 www.sigroupplc.com
Nominated Advisor and Broker

Panmure Gordon 
Freddy Crossley / Peter Steel (Corporate Finance)
Tel: +44 (0) 207 886 2500
www.panmure.com
Media Enquiries

Abchurch Communications
Jamie Hooper / Stephanie Watson
surgical@abchurch-group.com
Tel: +44 (0) 207 398 7700
www.abchurch-group.com
Notes to Editors:
Surgical Innovations Group plc (AIM: SUN) is a highly reputable British-based medical device designer and manufacturer, focused on delivering clinical solutions for surgeons that are both cost-effective and efficient. Since the Group's inception in 1992, it has established itself as a pioneer within the laparoscopic surgery field through a successfully developed portfolio of innovative medical devices.
Surgical Innovations' innovative products are centred on its Resposable concept which utilises a combination of disposable and reusable components to deliver cost-efficient solutions to healthcare organisations. Within the Group's SI Brand division, the portfolio of products includes port access systems, instrumentation and retraction devices.
The technologies used in SI's laparoscopic products can be adapted to meet the needs of surgeons in other specialties of minimally invasive surgery (MIS), including hip arthroscopy, cardiac and thoracic. SI is currently working with leading clinicians to develop tailored solutions in these emerging areas of MIS surgery. SI has successfully adapted its technology to the industrial sector, conducting "keyhole surgery" on jet engines, creating revenue streams from both development work and eventual device sales. 
The business has a compelling market position with an established international footprint. Through its developed network of distribution partners, Surgical Innovations' branded products are being sold in all the major high growth medical device markets. With a balanced investment strategy focused on R&D, manufacturing, coupled with sales and marketing and clinical training, the Group is well positioned and has the management expertise in place to capitalise on the growing demand, gain market share and deliver return to shareholders. 

This information is provided by RNS
The company news service from the London Stock Exchange
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