Member Article

Leeds medical firm reports revenue growth of 12%

Surgical Innovations Group plc, a provider of innovative medical technology for minimally invasive surgery, has announced a total revenue of £8.55 million (2012: £7.64 million), a 12% increase against the previous year.

However the groups’ adjusted EBITDA of £2.51 million (2012: £2.89 million) was “impacted by the introduction of improved manufacturing processes and currency fluctuations.”

Th firm also sad they had invested significantly in manufacturing and revenue infrastructure to support the US market and related uplift in demand, with a 73% increase in revenue to the US of SI branded products.

Doug Liversidge, non-executive chairman, commented: “During the period the Group has driven revenue in the US, vindicating the Board’s investment into this market.

“Being the principal consumer of medical devices in the world, the US offers real opportunities for SI both in terms of revenue and brand recognition.

“The Board believes that the Group is now well placed to develop its revenue channels both in the UK and internationally, particularly capitalising on the demand from the US.

“Ultra MIS creates an opportunity for the Group to develop a unique clinical proposition. The Board is confident that this strategy will result in future growth in revenues and looks forward with confidence.”

This was posted in Bdaily's Members' News section by Clare Burnett .