A leading creator of innovative medical technology for use in minimally invasive surgery (keyhole surgery) is looking to grow its exports after securing new facilities from Yorkshire Bank.
Surgical Innovations Group plc (AIM: SUN) is a highly reputable UK-based medical device designer and manufacturer, focused on delivering clinical solutions for surgeons that are both high quality and cost effective.
Established in 1992 by a local surgeon and instrument maker, the company is today a pioneer within the laparoscopic surgery field and has developed a portfolio of innovative SI branded and OEM medical devices.
In addition the company has successfully adapted its technology to the industrial sector, conducting “keyhole surgery” on jet engines.
The majority of its sales are in Europe and the USA, which holds the largest medical device market in the world.
The Company has secured a £3m facility from Yorkshire Bank’s Business and Private Banking Centre in Leeds. A new customer to the Bank, the funding provides working capital for the business and will support enhanced services to existing clients.
The deal was arranged by, Steve Roe, Corporate Director at Yorkshire Bank’s Business and Private Banking Centre in Leeds.
Mike Thornton, chief financial officer at Surgical Innovations, said:
“We are delighted to have selected Yorkshire Bank as our funding partner.
“Yorkshire Bank has demonstrated a keen interest in supporting SI and their facilities will help support the Company achieve its planned strategic growth objectives.”
Steve Roe, corporate director at Yorkshire Bank’s Business and Private Banking Centre in Leeds said:
“The success of Surgical Innovations is testament to the experience, drive and expertise shown by the management team, and represents the entrepreneurial spirit of businesses in West Yorkshire.
“As we begin to see signs of economic recovery, Yorkshire Bank remains focused on investing in the growth ambitions of the local business community.”