Surgical technology specialist on the up
A Leeds manufacturer for the medical profession has reported a 28% spike in revenues.
Surgical Innovations Group, who design and manufacture solutions for ‘minimally invasive surgery’ (MIS), made £3.88m in the six months ended 30th June.
Profit tripled in the same period, to over half a million pounds.
The group have also announced the approval of the budget for a new Clinical training facility in Leeds, with an estimated completion date of July 2015.
In January the company announced that it had formally signed the Regional Growth Fund (RGF) Final Grant Offer Letter worth £5.05m.
The total cost of the building project will be funded through the RGF grant and the remainder by a commercial bank mortgage.
The YelloPort+plus™ Port access system continued to gain UK market share as a cost effective solution for MIS surgical procedures.
Twenty five hospitals in the UK have converted to Surgical Solutions’ YelloPort+plus™ system.
The company has also begun to expand operations in the US, where both orders and interest are encouraging.
Surgical Innovations are partnering with JRI, a leading Sheffield Orthopaedic company, to investigate how early stage osteoarthritis of the hip can be treated using minimally invasive techniques.
The collaboration has recently been allocated a £390,000 grant from the TSB Biomedical Catalyst Fund to support the project, which will see Surgical Innovations further translate its technologies into hip MIS to enable and deliver new advanced therapeutic treatments.
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