Replacement of Auditor

Surgical Innovations Group plc
("Surgical Innovations", "SI" or the "Company")

Replacement of Auditor

Surgical Innovations Group plc (AIM: SUN), the designer, manufacturer and distributor of innovative medical technology for minimally invasive surgery, announces that on economic grounds the Company undertook a tender process for the role of auditor earlier this year. 

The Board has now received the resignation letter from the Company's current auditor, BDO LLP ("BDO"), in which BDO stated:

"The client changed auditors to a Firm more commensurate with the size of its business."

The Company has subsequently appointed Saffrey Champness LLP ("Saffreys") as a successor to BDO as its new auditor for the financial year ending 31 December 2020. The appointment of Saffrey's for the following financial year will be subject to approval by shareholders at the next Annual General Meeting of the Company to be held in 2021.

In accordance with the Company's obligations under Section 520(2) of the Companies Act 2006, a copy of the resignation letter received from BDO will be sent to shareholders this week and be available to view on Companies House. Under Section 523(1), (2) & (3) of the Companies Act 2006, the Company have agreed to the contents of the s519 statement and notified the appropriate audit authority.

The Board would like to thank BDO for its significant contribution and service as auditor over the last 3 years.

A copy of this announcement and the communication being issued to shareholders in relation to the change of auditor will be made available shortly on the relevant pages of the investor relations section of the Group's website, https://www.sigroupplc.com.

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 re-usable, 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.

The Group currently employs approximately 100 people across two sites in the UK.  Product design, engineering and manufacturing are carried out at the SI site in Yorkshire. Commercial activities including marketing, UK distribution and international sales and marketing are based at Elemental Healthcare in Berkshire.

Further information

Further details of the Group's businesses are available on the following websites:

www.sigroupplc.com

www.surginno.com 

www.elementalhealthcare.co.uk

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