Press Release |
30 May 2014 |
Surgical Innovations Group plc
("SI" or the "Group" or the "Company")
CE Approval for hernia mesh fixation device
Surgical Innovations Group plc (AIM: SUN), a leading creator of innovative medical technology addressing unmet clinical needs in minimally invasive surgery, is pleased to announce that the cyanoacrylate adhesive device for hernia mesh fixation, developed for Advanced Medical Solutions Group Plc ("AMS"), under the terms of a Development and Pre-Supply Agreement entered into in September 2011, has now received CE approval.
The device, branded and marketed by AMS as LiquiBand® Fix 8™, can accurately deliver individual drops of cyanoacrylate adhesive internally within the body, giving the surgeon precision and control for the first time. The accurate, laparoscopic application of adhesives to attach hernia meshes is expected to reduce surgical complications, in particular the potential pain associated with the use of tacks and staples, thereby improving the patient experience and reducing healthcare costs overall.
Graham Bowland, Chief Executive Officer of Surgical Innovations, commented: "The CE approval is further testament to the innovative talent and ability within the SI design team. Once again SI has demonstrated its core competency of developing laparoscopic instrumentation to meet the clinical need. SI remains committed to providing AMS with the required clinical support to ensure the successful adoption of LiquiBand® Fix 8™."
-Ends-
For further information please contact:
Surgical Innovations Group plc |
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Graham Bowland, Chief Executive Officer Mike Thornton, Chief Financial Officer |
Tel: +44 (0) 113 230 7597 www.sigroupplc.com |
Nominated Advisor and Broker |
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Panmure Gordon Freddy Crossley (Corporate Finance) Adam Pollock (Corporate Broking) |
Tel: +44 (0) 207 886 2500 www.panmure.com |
Media Enquiries |
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Abchurch Communications Jamie Hooper / Stephanie Watson [email protected] |
Tel: +44 (0) 207 398 7719 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.
For more information, please see www.sigroupplc.com
