Surgical Innovations records rise in profits

During 2011, the group’s revenue increased 7.9 per cent to £7.6m, while pre-tax profit rose by 10 per cent to £1.705m.

The Sheffield-based company recently received US regulatory approval for its PretzelFlex keyhole device.

The instrument has a flexible pretzel shape to keep organs out of the way during surgery.

SI is keen to carve a niche in the US market place.

A large part of the company’s growth has arisen from sales of its SI-branded products, where revenues increased by 22.7 per cent to £4.725m.

Doug Liversidge, the company’s chairman, said today: “We remain confident about the future growth prospects of the business as our existing SI branded products continue to gain international clinical recognition through our expanding and varied routes to market.

“We expect to see further growth from new products that are launched throughout the year, as well as through the development of existing and new relationships with OEM customers.”