US contract extension for Surgical Innovations

SURGICAL Innovations, the Alternative Investment Market-listed medical device designer and manufacturer, has agreed a five year extension to its distribution agreement in the United States.

The extension will have a minimum value to the Leeds-based company of £4.9m over the period of the extension.

The group said that in order to maintain exclusive rights with SI US, its exclusive US master distributor, SI US had committed to distribute the company’s branded products over the extended period.

Graham Bowland, chief executive of Surgical Innovations, said: “This agreement extension with SI US strengthens the group’s strategy of developing its Resposable portfolio in the strategically important US market and gives us confidence for the future. 

“We look forward to developing our partnership with SI US over the next 5 years.”

SI US will distribute the company’s LogiRange and LogiCut product range together with its reusable line of products and has been granted first refusal to all future Surgical Innovations branded products within the agreement period.

Following the deal, Surgical Innovations has retained the right to manufacture and distribute all devices under its brand in all other markets.