Leeds med-tech firm SI Group announces six-figure acquisition

Medical tech firm Surgical Innovations (SI) Group plc has acquired the laparoscopic instruments business and related assets of Surgical Dynamics Limited (SDL) for £360k.

The deal, which will also see Leeds-based SI Group take on a debt of £50k, was funded from the firm’s existing cash resources.

SI Group is a designer and manufacturer of medical technology for minimally invasive surgery.

County Durham-based SDL designs and develops a range of medical products. In 2015, the firm posted a loss before tax of £170k against revenues of £120k.

Following the deal with SI Group, SDL’s operations in the production and distribution of single-use laparoscopic products will be moved to SI Group’s Leeds site.

Further, SDL has agreed to offer SI Group exclusivity on any new products developed in the laparoscopic field for a minimum of three years.

SI Group MD Melanie Ross said of the acquisition: “We are delighted to be working with SDL and its owners to further broaden our product portfolio, and bring additional precision manufacturing techniques to our facility at Leeds.

“This is an exciting opportunity to increase our appeal to distributors and end-user customers across a number of geographical markets, and will further enhance our competitive position in the UK and elsewhere.”

She continued: “This is the first acquisition by SI Group following board changes over the last twelve months, and we continue to seek further opportunities to build on our expanding market presence.”