Surgical Innovations reports 44% revenue rise to £8.4m

Leeds-based Surgical Innovations has today announced its Group revenues have grown 44% to £8.7m in the year ended December 31.

The designer and manufacturer of medical equipment for key hole surgery, listed on the AIM, said that within this, organic growth in the existing business was approximately 10%.

The med tech company, which has a 32,000 sq ft head office in Leeds, said the integration of Elemental Healthcare Limited, acquired in August 2017, continued in line with plan and following the acquisition, the reaction of both distributors and suppliers to both businesses had been very positive.

The combined gross margins were within target range and the increasing levels of profitability are in line with board and market expectations.