Surgical Innovations Share Discussion Threads

[gnnmartin] 25/9/2023 20:53

I buy unloved stocks. Buy low, (hope to) sell high. Buy when others are fearful.

Actually, I've been a holder for a long time, so that 'buy low' is a bit misleading. The past few years have been very disappointing, but I still feel there is a reasonable chance they will pull through. The interim notice was not as bleak as the share price suggests.

[john148] 25/9/2023 20:38

It pains me to say but I'm afraid that this is an un-loved stock which has no value to any potential investor. Either there should be an overhaul of the B.O.D or the company taken private.

[barrenwuffet2] 25/9/2023 12:06

I’m not sure SUN investors are getting behind the AMS and CMR newsfeed.

[buywell3] 20/9/2023 07:54

Like Advanced Medical Solutions , Surgical Innovations also will play a major role in supplying the port access devices that the CMR Surgical Versius robot uses plus the ongoing consumables for 4 such devices needed for every operation

These are made by Surgical Innovations for CMR Surgical and also Surgical Innovations own the patent

CMR Surgical has announced that it has worked with Surgical Innovations to develop YelloPort™ Elite 5mm, a new surgical port access system. The surgical port is made up of a reusable trocar and cannula, with single use valve, which minimises clinical waste and reduces the cost for hospitals when compared to traditional single-use surgical ports 1.



David Marsh, Chief Executive Officer, Surgical Innovations, said:

“We’re delighted to partner with CMR Surgical, a fellow British medical device company, to develop this new surgical Port Access System. Our ResposableTM products provide a high-quality hybrid instrument concept, with the clinical benefits of a small disposable element, reducing waste by at least 70% compared to fully disposable alternatives.”

Mark Slack, Chief Medical Officer, CMR Surgical, said:

“When we talk to hospitals and clinical teams, we hear how important it is for them to reduce the environmental impact of the surgical products and instruments they use. We want to partner with hospitals to reduce waste and cost, whilst advancing performance. Working with Surgical Innovations to develop this new port, we’ve been able to do just that.”

-----------------------------------------------


UK robotic surgery group raises $165mn



It should be noted that CMR Surgical is planning to use the money raised to improve its product and to invest in its commercial capabilities to continue to gain market share. The monies were raised from existing investors of CMR Surgical.


buywell adds

As CMR Surgical gain market share , then so too will orders for the YelloPort™ Elite 5mm, which is a new resposable surgical port access system , that requires new consumables for each operation( made and supplied by surgical Innovations) whilst the major part of the device can be used again and again ( after the cleaning process within the hospital )

These reposable devices are what hospitals and healthcare services are turning to away from single use devices --- as they save them monies, whilst reducing materials going to reclamation/waste and also help meet climate gas emissions targets --- they form the backbone of Sustainable Healthcare



Surgical Innovations are 100% owners of Elemental Healthcare

dyor

[buywell3] 20/9/2023 07:31

More RNS info from Advanced Medical Solutions today


Post Period End



· Announced 18 September, the Group has signed a US LiquiBandFix8® commercialisation agreement with TELA Bio Inc ("TELA Bio") ahead of a September launch under the brand name LIQUIFIXTM, entering a new $200 million addressable market with a unique, differentiated product



· The Group can confirm very good progress has been made with all the new US LiquiBand® distribution agreements and is highly confident that the new route-to-market strategy will be fully operational and driving accelerated growth by the end of 2023

Commenting on the interim results, Chris Meredith, Chief Executive Officer of AMS, said:

"I'm pleased to report first half growth at Group level driven by our diverse portfolio of products, despite the short-term disruption to US LiquiBand® sales and the changes to the Organogenesis royalty stream.

This demonstrates the increasing strength of our existing portfolio which will play a big part in generating and sustaining stronger growth in the future.

I am particularly excited at the breadth of opportunities now open to us as a number of new initiatives and product launches, such as LIQUIFIXTM in the US and Seal-G® in Europe, come into effect this year. With so many potential growth drivers in place, I remain confident that we will see accelerated growth from 2024."



---------------------------------------
buywell adds

It would seem that Surgical Innovations are going to play a significant role in the above as the CEO of AMS said

"I'm pleased to report first half growth at Group level driven by our diverse portfolio of products, despite the short-term disruption to US LiquiBand® sales and the changes to the Organogenesis royalty stream.

This demonstrates the increasing strength of our existing portfolio which will play a big part in generating and sustaining stronger growth in the future. "



Surgical Innovations make the LiquiBandFix8®/LIQUIFIX and they own the US patent

Surgical Innovations have an existing deal in place till mid 2024 to make/supply
LiquiBandFix8® --- which looks set to experience a rapid IMO increase in orders

In other words what Surgical Innovations does has a big impact upon how Advanced Medical Solutions make progress with the CEO of AMS saying

" The Group can confirm very good progress has been made with all the new US LiquiBand® distribution agreements and is highly confident that the new route-to-market strategy will be fully operational and driving accelerated growth by the end of 2023 "


dyor

[mandate] 20/9/2023 07:29

FT reporting that 'UK robotic surgery group CMR Surgical has raised $165mn', with the aim of taking on Intuitive Surgical. Let's hope that this benefits SUN's outlook

[john148] 19/9/2023 11:29

Seems to be this company is always keeping its head just above water. Think we need a more dynamic B.O.D

[buywell3] 19/9/2023 08:18

Current Trading And Outlook

· Sales in key markets have continued the strong growth momentum from H1 and, in addition, the backlog of OEM orders has been addressed and there is an encouraging positive orderbook for H2

· Group revenues have continued to grow in H2 in line with the Board's expectations, with key markets and OEM in particular performing strongly

· The Group continues to trade profitably at the adjusted EBITDA level, notwithstanding some operational challenges

· Planned destocking for H2 has commenced and is expected to return working capital towards normal levels

· Evaluations in UK continue to gain pace and it is anticipated the measures to address the significant backlog of patients waiting for treatment will provide further opportunity for the UK team to drive sales through the sustainability message

· Initial growth in new markets was slower than anticipated but new strategies and closer support has seen new momentum and traction starting to be seen in these markets

· Operational review initiated in Q2 to identify supply chain efficiencies and productivity gains

· Resultant improvements are already being implemented to process and structure, although nominal in the current year, these and others to follow are expected to help drive the future profitability of the Group from 2024 onwards



Chairman Of SI, Jonathan Glenn, Said:

"Revenues in the period to 30 June 2023 have continued to grow and strengthen, with key markets showing positive growth which we expect to continue for the remainder of the year. New geographical territories have been slower than anticipated but are now gaining traction. Our OEM business is back on track after a challenging H1 with the backlog of orders addressed in the period since the half-year end and the supply chain delays resolved for these activities. Overall, the revenue prospects for the Group are encouraging.



"Despite recently reported operational challenges with manufacturing productivity and supply chain disruptions, we are confident the measures being implemented will help overcome these. We have engaged an industry specialist to lead this project which is well underway, and we expect to see significant benefits flowing though into the P&L during the first half of the next financial year."



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buywell adds

OEM will include the LiquiBand Fix8® product made by Surgical Innovations for Advanced Medical Solutions ( see above post )

[buywell3] 18/9/2023 07:34

18th September 2023






AMS signs agreement with TELA Bio, Inc. to commercialise LiquiBand Fix8® in the US under the brand name LIQUIFIX™


US launch of LIQUIFIX™ at American Hernia Society Annual Meeting on 21 September

Winsford, UK: Advanced Medical Solutions Group plc (AIM: AMS), the world-leading specialist in tissue-healing technologies, today announces that it has signed an agreement to commercialise LiquiBandFix8® in the US with TELA Bio, Inc. ("TELA Bio"), a specialist medical technology designer and developer of innovative soft-tissue reconstruction solutions that optimise clinical outcomes, (NASDAQ: TELA).

Under the terms of the agreement, TELA Bio will market and distribute LiquiBandFix8® under the brand name LIQUIFIX™ via its direct specialist sales team across the United States with official launch at the American Hernia Society Annual Meeting, taking place from 21-23 September.

This represents a significant commercial opportunity for AMS and TELA Bio as they enter a new addressable market estimated at $200 million.

Headquartered in Malvern, Pennsylvania, TELA Bio has an established and fast-growing footprint in the US market with products that focus on addressing the shortcomings of existing reinforcement materials in hernia repair, abdominal wall reconstruction and plastic reconstructive surgery.

To service its growing product portfolio, TELA Bio has projected that its salesforce is expected to reach 75-80 representatives by the end of 2023.

TELA Bio generated revenues of $41.4 million (+41%) in 2022 and $26.4 million (+42%) in H1 2023, with full year 2023 guidance of $60-65 million.

The signing of this agreement concludes a comprehensive selection process involving a number of potential partners with a broad range of strengths and marketing strategies.

The outcome of this process made it clear that TELA Bio brings the right combination of strengths and attributes, with a vision and ambition that is closely aligned with and complements AMS' strategy and aspirations.

LiquiBandFix8®/LIQUIFIX™ is already marketed in Europe and other non-US territories and delivered strong growth in these markets in 2021, 2022 and 2023 year to date. AMS' experience in commercialising the product in these markets has emphasised the importance of using specialist sales operations.

TELA Bio is an ideal partner for LiquiBandFix8®/LIQUIFIX™ in the US with its hernia repair specialism, its focus on education and training, and its commitment to improving patient outcomes through new technologies that address the shortcomings of existing devices.

In June 2023, LiquiBandFix8®/LIQUIFIX™ was granted Pre-Market Approval (PMA) by the US Food and Drug Administration (FDA) for its use in hernia repair surgery. The device uses drops of cyanoacrylate adhesive instead of sharp tacks to fix mesh to tissue inside the body during open and laparoscopic hernia surgery. It is the first product of its kind to be approved in the US and will benefit patients as the less invasive application is expected to reduce pain and other post-operative complications.

Chris Meredith, Chief Executive Officer of AMS, commented: "TELA Bio's rapidly growing sales presence in the US hernia repair market and its focus on new technologies complement AMS' strengths and aspirations to improve quality outcomes for patients and value for payers, making it the perfect partner to launch and commercialise LIQUIFIX™ in the US.

The launch of LIQUIFIX™ is a significant milestone and commercial opportunity for AMS and we are very pleased to be working with a US partner that shares our vision and commitment to the benefits that the product can provide. In this respect we believe that both companies are strongly aligned and we look forward to a long and successful partnership together, starting with the preparations for the launch in Q4 of this year."

Antony Koblish, Co-founder, President and Chief Executive Officer of TELA Bio, commented: "LIQUIFIX™ has already gained significant adoption in Europe and is demonstrating a clear benefit to patients while providing novel fixation and tacking alternatives for surgeons.

We believe this technology is well aligned with our commercial strategy to deliver innovative and effective solutions for soft-tissue repair and reconstruction. We look forward to working closely with the AMS team to commercialise the product across the US market."

[justiceforthemany] 13/9/2023 16:17

buywell where are you?
You have been super bullish here. Relentless selling.

[barrenwuffet2] 06/9/2023 11:33

Ouch - what’s just happened?

[barrenwuffet2] 06/9/2023 11:33

Ouch - what’s just happened?

[justiceforthemany] 14/7/2023 12:26

Why the sudden sell off here? Brutal

[kenone] 14/7/2023 12:25

About time this got swallowed by a bigger fish . I'll take 3p for my shares . Would be pleased to invest funds elsewhere.

[gbh2] 27/6/2023 08:39

Pug, It's been that way since 1998, only the directors made owt from this, plus some of us that sold between 9 & 11p some years ago.

[pugugly] 27/6/2023 08:16

Still "jam tomorrow"

[buywell3] 27/6/2023 08:06

--=-- AGM Statement -----



In short, the forward-looking orderbook is extremely positive, providing confidence in management forecasts for 2023 and the Board reiterates its optimism for the longer-term growth trajectory for the Group.

Notwithstanding some ongoing headwinds and variability in performance across different geographical markets, the Board's conviction is a function of multiple drivers supporting demand for the Group's innovative, differentiated product offering.

-------------------------------------------


buywell :

In short 2023 forecast is on track

2024 and future forecasts likewise


In the UK the strength of the sustainability messaging continues to drive new account wins and the investment in the "environmental and financial calculator" enables the hospitals to quantify key metrics as the NHS drives to meet Net Zero commitments.


This is the drive for the NHS to reduce its carbon footprint --- and to reduce its use of plastics in 'one use' type surgical products such as surgical instruments.

Surgical IInnovations offer 'Resposable' surgical instruments and Elemental Healthcare provide a range of products that are directed towards:


Resposable

Surgical Innovations have been leading the way in the reduction of plastic disposable since 1992. The innovative design of Resposable ranges provides a high-quality instrument with the clinical benefits of a small disposable element.

Resposable products can reduce waste by up to 85%¹, compared to full disposable alternatives, providing the solution for Hospitals looking to reduce costs and waste whilst maintaining reliability and quality.

Much of the waste generated in the Operating Theatre is ‘incidental’ and with simple training and some thought, can be dramatically reduced.

It is important to consider what options are available to reduce the carbon emissions of healthcare providers.

This will also generate large cost savings in clinical waste disposal and recurring costs of single use items.








Environmental Responsibility

We recognise the challenges that the NHS and Private healthcare face and are in the forefront of new developments leading to better quality treatment for patients that are cost effective and sustainable for the Healthcare provider.

Resposable™ solutions for a greener NHS reduce plastic waste in Theatres by 70%.




Elemental Healthcare provide a portfolio of innovative products combining the highest quality with the best value.

We promote developments that will enable operating theatres to dramatically reduce their costs, yet retain the quality and operative experience for the Surgeon and Patient.



----------------------------------------


" The orderbook for Surgical Innovations' OEM business is strong although supply chain challenges have impacted sales during H1."

buywell:

OEM sales look set to take a jump in the second half due to orders for LiquibandFix8 from Advanced Medical Solutions following the recent FDA Approval .

These sales will rise IMO year on year from this date going forwards as US sales of Liquiband Fix8 grow.


-----------------------------------------


The US is an area where Surgical Innovations/Elemental Healthcare look set to make big strides in 2024 once the 5mm new optical trocar makes an entrance along with the new 5mm elite trocar.

These will be sold by Microline Surgical who is the main distributor of Surgical Innovations Trocars in America

This market is going to be BIG

Microline Surgical have dedicated sales staff who are being trained on the range of Surgical Trocars that Surical Innovations supply them --- at present:




" Key international markets, Japan and Europe, have continued to perform above the comparative period in 2022 however India and USA have been slower to gain momentum, in part due to local sales training delays in India and some supply chain issues for key product in the USA.
The Company is confident that further investment in sales and marketing support will help drive activity in these key markets during H2 2023."

buywell:

Training of the US Microline dedicated sales staff of Surgical Innovations Trocars continues

Surgical Innovations/Elemental Healthcare look set to add additional already trained sales staff ONCE the new 5mm Elite trocars are ready for sale --- this looks set for the second half of 2023

[buywell3] 26/6/2023 05:51

Jonathan Glenn is going to be the new chairman of Surgical Innovations starting in September 2023, he is currently the chairman of Tissue Regenix which is also based in Leeds






Recently TRX announced:


Our geographic outreach with our human tissue dCELL and BioRinse portfolios will expand as we sign agreements with additional distributors. Alongside this, OrthoPure XT will be introduced into additional EU and other markets
in 2023.

Thus in 2023, we aim to pursue the commercialisation of those products which utilise our core technology platforms, provide product line extensions that are fast to market, and address a specific clinical or commercial need.

Whilst we will continue to assess when we need to invest in further capacity expansion, we will develop further efficiencies and be creative in our business practices, whilst looking at all opportunities to scale the business for additional longer term growth.

A combination of the team that we have in place; the products we currently have and the pipeline of new products we are developing; the commercial relationships we have and the distribution base that we have established all give the Board optimism about the future, both short and long term, for the Company.

We believe that we are extremely well positioned to take advantage of the pportunities in front of us and to create a profitable, sustainable, generative company for shareholders.

We are all excited by the significant opportunities.

Jonathan Glenn
Chair

Daniel Lee
Chief Executive Officer

20 March 2023



buywell wonders if Surgical Innovations will begin using TRX mesh products through owned Elemental Healthcare business?

Might TRX produce a mesh that could be used with Liquiband Fix8 for Hernia operations for example ?

[buywell3] 11/6/2023 09:23

Yet more good news

There is growth ahead within the Global Laparoscopic Devices Market

Surgical Innovations have an agreement with Microline Surgical , whereby each company markets some of the others products in their own home country---

Microline Surgical get mentioned here:

The Global Laparoscopic Devices Market Size was valued at USD 7.2 billion in 2022 and the worldwide Laparoscopic Devices Market size is expected to reach USD 16.3 billion by 2032, according to a research report published by Spherical Insights & Consulting.

Companies Covered: Karl Storz SE & CO. Kg, Medtronic, Johnson and Johnson, Olympus Corporation, CONMED Corporation, B. Braun Melsungen AG, The Cooper Companies Inc., Richard Wolf GmbH, Microline Surgical, BD, Welfare Medical Ltd, Intuitive Surgical, Shenzen Mindray Bio Medical Electronics Co., Ltd and among others.



Surgical Innovations have a 5year deal in place with Microline Surgical


RNS Number : 0224P
Surgical Innovations Group PLC
15 February 2021


5-year USA distribution agreement



Distribution agreement signed with Microline Surgical Inc for YelloPort+PlusTM and YelloPort EliteTM



Surgical Innovations Group plc (AIM: SUN), the designer, manufacturer and distributor of innovative medical technology for minimally invasive surgery ("MIS"), announces a new USA distribution agreement with Microline Surgical Inc. ("Microline") for the Company's range of YelloPort+PlusTM and YelloPort EliteTM Access Devices.

The 5-year agreement brings a significant opportunity to SI for growth in the US Trocar market.



Microline's sales & marketing structure is ideally placed to leverage their experience with Resposable surgical instruments to effectively drive US sales of YelloPort+PlusTM and YelloPort EliteTM Access Devices.



Based near Boston, MA, U.S.A. Microline designs, manufactures and distributes high quality instruments aimed at the MIS market.
Its portfolio of products is complementary to those offered by SI with a focus on the resposable ethos of cost and sustainability. SI has a long established relationship with Microline, where it has an exclusive GB distribution agreement for Microline instruments that are complementary to the SI branded range.



Timothy Gehlmann, President & CEO of Microline, noted:

"Microline is excited to add the YelloPort line of trocars from SI to our product portfolio.
The SI trocar line complements our MIS instrument line by broadening our solution offering to customers."



Adam Power, Group Development Director at SI, added:

"The United States accounts for almost half of the worldwide trocar market. Microline has a direct sales team with considerable experience in the selling of Resposable surgical devices. Microline and Surgical Innovations, through its UK subsidiary Elemental Healthcare, share a long history of synergy and growth and we are very excited to replicate this successful relationship in the United States."


dyor

[buywell3] 11/6/2023 09:05

Yes it is

Not only for the US where AMS see a $200 Million market to gain a share in BUT also back in the UK


The US clinical study now completed , which compared the merits of Liquiband Fix8 V the Absorba tack device -- and the results of which were used in order to obtain the very speedy FDA Approval

Plus the results of which are to be used in marketing the Liquiband Fix8 device ie they must be good V use of tacks or else why would the FDA grant approval so quickly and their use be cited for marketing purposes ?


But also NICE stated:

NICE Guidance Recommends Move to Glues in Hernia Operations
13th July 2022

New guidance from the National Institute for Care and Excellence (NICE) is recommending clinicians consider the use of specialist glues instead of tacks to secure surgical mesh in hernia operations.

The NICE MedTech Innovation Briefing guidance has been issued following a Value Based Procurement project carried out by NHS Supply Chain’s Sterile Intervention and Associated Consumables team.

Each year 70,000 hernia operations are carried out in the UK but currently only 10% use glues to secure surgical mesh. The majority use either metal or plastic tackers instead.

The briefing says that by using glues instead, potential benefits include:

Reduced postoperative and chronic pain
Fewer postoperative complications, such as nerve injury
Reduced risk of hernia recurrence
Reduced length of hospital stays, with the financial savings that brings
Earlier return to work and usual activities
Improved patient quality of life.

This is a really significant guidance document because of the improvements it offers to the patient pathway… The guidance makes clear the many benefits that patients will get from this change and ultimately that is what all of us in the NHS are here to do so this is a game changer from that perspective alone. The glue eventually disappears within the body whereas with a tacker you have something in your body and that always has the potential for something to cause pain at a later point.


buywell adds:

A Clinical Study to Evaluate the Clinical Performance and Safety of LiquiBand FIX8® Versus AbsorbaTack™ for Hernia Mesh Fixation and Peritoneal Closure in Groin Hernia Repair

The resuts of this study will lend weight for NICE to further improve their guidance on the use of glues V tacks









dyor

[buywell3] 05/6/2023 07:32

FDA approval RNS for LiquibandFix8 by Advanced Medical Solutions

This is ahead of expectations and will give Surgical Innovations --- who designed and make the Liquiband Fix8 device for AMS --- an added boost to this years earnings

buywell expects a statement from the AGM to this effect --- the market as yet has NOT grasped the significance of sales of this product in America




---------------------------------------------


5 June 2023


Advanced Medical Solutions Group plc
("AMS" or the "Group")



US regulatory market approval granted ahead of schedule for LiquiBandFix8®


- Commercial launch expected in H2 2023

Winsford, UK: Advanced Medical Solutions Group plc (AIM: AMS), the world-leading specialist in tissue-healing technologies, is pleased to announce it has received approval from the US Food and Drug Administration (FDA) for the Pre-Market Approval (PMA) of LiquiBandFix8® for use in hernia surgery.

The authorisation was granted ahead of schedule and seven months after submission, a significant achievement for the company's first PMA application, reflecting the quality of the submission and emphasising the benefits that the product provides to patients.

LiquiBandFix8® uses drops of cyanoacrylate adhesive instead of sharp tacks to fix mesh to tissue inside the body during hernia surgery. The approval covers two devices, one for use in open surgery and one for laparoscopic use, the first products of their kind in the US which will benefit patients as the less invasive application is expected to reduce pain and other post-operative complications.

In addition to its use in securing mesh during hernia repair, LiquiBandFix8® has also been approved for use in closing the peritoneum, the membrane surrounding the abdominal cavity, further extending its application and the the clinical benefits it can provide.

Overall, this represents a significant commercial opportunity for AMS to enter a new addressable market estimated at $200 million.



A 284-patient Randomised Control Trial (RCT) has been conducted with top hernia surgeons in five clinical sites across the US, comparing the direct performance of LiquiBandFix8® with a market leading tacker device.

Clinical data from the trial was submitted as part of the PMA application and will be used to market the product.



LiquiBandFix8® is already being commercialised in Europe and other non-US markets and AMS reported strong growth in product sales during 2022, supported by the recent recommendation from the UK National Institute for Clinical Excellence (NICE) to consider the use of cyanoacrylate adhesives in place of invasive tackers.



The company is currently in late stage negotiations with a number of potential commercial partners in the US and expects to be able to announce its final decision on partner and marketing strategy shortly.

Following this significant approval for AMS, the company will now focus on rolling out the launch of this exciting new product range across the US during H2 2023.



Chris Meredith, Chief Executive Officer of AMS, commented:

"I am delighted to be able to announce the approval of LiquiBandFix8® in the US which represents a significant milestone for AMS, further validating the R&D investment we have made and demonstrating our commitment to develop high-quality, innovative products that satisfy unmet patient needs and provide significant commercial opportunities.

The speed of the approval following our PMA application in October 2022, is a testament to the quality of product and the benefits it offers to patients, as well as the strength of our PMA submission.

I would like to take this opportunity to thank our R&D, Regulatory and Clinical teams that have worked so hard on this project. Now that we have the FDA approval, I am confident that we can conclude our discussions with potential partners and embark on a successful US launch in H2 2023 and that LiquiBandFix8® in the US will be a meaningful contributor to achieving our stated aim of delivering sustainable double digit organic growth."


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read post

[buywell3] 30/5/2023 06:49

Chairman's Statement from recently published Annual Report

" Given the multiple factors driving improved prospects for growth, the Board has increased confidence in
not only the outlook for 2023 but also the longer-term growth trajectory for the Group. "


IMO

To achieve a 30M turnover by 2030 will require some major improvements in reducing overheads and increasing margins.

This will also need to be accompanied by increasing the numbers of products offered whilst also increasing the areas and countries these products are sold.

Whilst the above took place; it would also help if other competitors fell by the wayside due to their inability to change their practices and products so as to meet new MDR rules and regulations


2022 Turnover was £11,340,000.00 --- At 12.25% growth for the next 8 years future turnovers would be :

2023 £12,809,860.95
2024 £14,470,241.40
2025 £16,345,836.00
2026 £18,464,540.23
2027 £20,857,865.32
2028 £23,561,406.92
2029 £26,615,374.46
2030 £30,065,189.23


--------------------------------


Nigel Rogers of Surgical Innovations has recently stated the following:


------ Regulatory and new product development -------


The Company has made significant advances to obtaining MDR approval with one of the three product categories already receiving certification along with the key Quality
Management System (QMS), with another product group to be imminently approved.

The QMS approval was vital to allow the Company to continue new product development and plans to launch a range of instruments to complement the Logi™ Resposable® portfolio are in place for Q4 2023.

The decision by the EU to extend the transition time for MDR is only applicable for companies who are on the pathway for MDR and this further raises the barrier to entry for not only new entrants but also many existing medtech competitors.

In addition to the extension of the Logi™ Resposable™ portfolio there are a number of projects focused on improving both manufacturing efficiencies, expanding overall
capacity and reducing costs.

This initiative has been enabled by the ongoing investment programme in plant and tooling. Further investment in manufacturing and regulatory is planned for the coming year, providing opportunities to further support the growth, improve the efficiencies, and overall enhance the profitability of the business


------ Current trading and outlook -------


Whilst the backlog of patients requiring treatment in the UK continues to increase, standing at 7.2m in December 2022, sales remain strong. Revenue in the current year to date for SI brand and Distribution sales are 9.2% ahead of corresponding period last year and the future order book is looking positive going into Q2.

There is a similar picture globally, however the unique selling proposition of our
product portfolio, which are high performing, sustainable and cost-effective solutions, leave us well placed to address this pent-up demand and make a positive impact on the environment

The launch of the new YelloPort Elite 5mm™ in Q2 2022, designed in a collaboration with CMR Medical, alongside the introduction of the Optical trocar provides increased opportunity in USA, Japan and India where there is a significant requirement for an Optical 5mm trocar.

The planned launch of the additions to the Logi™ range were delayed as a consequence of the MDR process and will now be launched later in the year.

In addition, a number of cost down R&D projects will provide the opportunity for margin improvement throughout 2023 and into next year.

New geographical markets are providing some significant scope for growth in the forthcoming year.

In India, where registration was obtained earlier this year, evaluations with key surgeons in a group of Delhi-based hospitals are progressing well.

A new partner in Germany has seen the conversion of a new account with further evaluations scheduled.

In the US the partnership with Microline is seeing progress with a number of hospital conversions and again further evaluations are underway. The Company continues to work with key partners to strengthen the overall growth opportunities

Given the multiple factors driving improved prospects for growth, the Board has increased confidence in not only the outlook for 2023 but also the longer-term growth trajectory for the Group.

Nigel Rogers
Non-Executive Chairman
28 March 2023


--------------------------------------------


buywell adds:

As the new logi range gets added to the range of products in 2023 Q4 together with the 5mm Optical Trocar then sales should accelerate in the final quarter imo

Circa 15% to 20% higher than last years number looks achievable

Then for 2024 imo we should see further acceleration due to FDA approval in the US for Liquibannd Fix8 -- FDA Approval News of which should also be in Q4 of this year with a good chance of furthet orders from Advanced Medical Solutions to follow which could further add to this years turnover


dyor

[buywell3] 29/5/2023 07:30

From the recent Chairman's Statement


Current trading and outlook


Whilst the backlog of patients requiring treatment in the UK continues to increase, standing at 7.2m in December 2022, sales remain strong.

Revenue in the current year to date for SI brand and Distribution sales are 9.2% ahead of corresponding period last year and the future order book is looking positive going into Q2.

There is a similar picture globally, however the unique selling proposition of our product portfolio, which are high performing, sustainable and cost-effective solutions, leave us well placed to address this pent-up demand and make a positive impact on the environment.