REG - Surgical Innovations - New exclusive UK distribution agreements secured

Surgical InnovationsAnnouncement

18/04/2024 07:00

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RNS Number : 0497L  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 (http://www.sigroupplc.com/)
 David Marsh, CEO                                     Tel: 0113 230 7597

 Singer Capital Markets (Nominated Adviser & Broker)                                      Tel: 020 7496 3000
 Aubrey Powell / Oliver Platts

 Walbrook PR (Financial PR & Investor Relations)      Tel: 020 7933 8780 or si@walbrookpr.com (mailto:si@walbrookpr.com)
 Paul McManus / Charlotte Edgar                       Mob: 07980 541 893 / 07884 664 686

 

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 (http://www.sigroupplc.com)

www.surginno.com (http://www.surginno.com)

www.elementalhealthcare.co.uk (http://www.elementalhealthcare.co.uk)

 

To receive regular updates by email, please contact si@walbrookpr.com
(mailto:si@walbrookpr.com)

 

 

 

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