Latest news with #SSInnovations
Yahoo
4 days ago
- Business
- Yahoo
SS Innovations to Ring the Nasdaq Opening Bell on Tuesday, June 3, 2025
FORT LAUDERDALE, Fla., June 02, 2025 (GLOBE NEWSWIRE) -- SS Innovations International, Inc. (the 'Company' or 'SS Innovations') (NASDAQ: SSII), a developer of innovative surgical robotic technologies dedicated to making robotic surgery affordable and accessible to a global population, today announced that the Company will ring the opening bell at the Nasdaq MarketSite in New York City on Tuesday, June 3, 2025. Dr. Sudhir Srivastava, Chairman of the Board and Chief Executive Officer of SS Innovations, will lead the bell ringing ceremony and be joined by members of the Company's management team, Board of Directors, advisors, and other guests. Dr. Srivastava commented, 'This event commemorates the April 2025 uplisting of SS Innovations' common stock to Nasdaq, a major milestone that would not have been possible without the dedication and hard work of our entire team in developing the SSi Mantra, a cost-effective, differentiated surgical robotic system of premier quality. We also are celebrating the successful completion of more than 4,000 robotic surgeries by the SSi Mantra across over one hundred types of surgeries without any complications, injuries or mortalities – a notable milestone that we surpassed last month. We are encouraged by the growing acceptance of the SSi Mantra among physicians across India and in six other countries, and we are pursuing new markets around the world, including the European Union and the United States. Through growing global deployment of the SSi Mantra, we aim to enable advanced, accessible, and affordable robotic surgery for a broader segment of patients in need.' The live broadcast of the Nasdaq Opening Bell ceremony will begin at 9:15 a.m. Eastern Time and will be available, along with a replay of the event, at: About SS Innovations SS Innovations International, Inc. (Nasdaq: SSII) develops innovative surgical robotic technologies with a vision to make the benefits of robotic surgery affordable and accessible to a larger segment of the global population. The Company's product range includes its proprietary 'SSi Mantra' surgical robotic system and its comprehensive suite of 'SSi Mudra' surgical instruments, which support a variety of surgical procedures including robotic cardiac surgery. An American company headquartered in India, SS Innovations plans to expand the global presence of its technologically advanced, user-friendly, and cost-effective surgical robotic solutions. Visit the Company's website at or LinkedIn for more information and updates. About the SSi Mantra The SSi Mantra surgical robotic system is a user-friendly, modular, multi-arm system with many advanced technology features, including: 3 to 5 modular robotic arms, an open-faced ergonomic surgeon command center, a large 3D 4K monitor, a touch panel monitor for all patient related information display, a virtual real-time image of the robotic patient side arm carts, and the ability for superimposition of 3D models of diagnostic imaging. A vision cart provides the table-side team with the same magnified 3D 4K view as the surgeon to provide better safety and efficiency. The SSi Mantra utilizes over 40 different types of robotic endo-surgical instruments to support different specialties, including cardiac surgery. The SSi Mantra has been clinically validated in India in more than 100 different types of surgical procedures. Forward Looking StatementsThis press release may contain statements that are not historical facts and are considered forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words 'anticipate,' 'assume,' 'believe,' 'estimate,' 'expect,' 'will,' 'intend,' 'may,' 'plan,' 'project,' 'should,' 'could,' 'seek,' 'designed,' 'potential,' 'forecast,' 'target,' 'objective,' 'goal,' or the negatives of such terms or other similar expressions to identify such forward-looking statements. These statements relate to future events or SS Innovations' future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investor Contact:The Equity Group Kalle Ahl, CFA T: (303) 953-9878 kahl@ Devin Sullivan, Managing Director T: (212) 836-9608dsullivan@ Media Contact:press@ (212) 739-0300
Yahoo
27-05-2025
- Business
- Yahoo
SS Innovations Surpasses Milestone of 4,000 Robotic Surgeries Successfully Performed with the SSi Mantra Surgical Robotic System
FORT LAUDERDALE, Fla., May 27, 2025 (GLOBE NEWSWIRE) -- SS Innovations International, Inc. (the 'Company' or 'SS Innovations') (Nasdaq: SSII), a developer of innovative surgical robotic technologies dedicated to making robotic surgery affordable and accessible to a global population, today announced that the Company's SSi Mantra surgical robotic system has been utilized to successfully perform more than 4,000 robotic surgeries across more than one hundred types of surgeries without any complications, injuries or mortalities. Of note, this milestone includes approximately 215 cardiac surgical procedures, of which six were successfully performed via telesurgery across India with the SSi Mantra 3 surgical robotic system. Dr. Sudhir Srivastava, Chairman of the Board and Chief Executive Officer of SS Innovations, commented, 'The milestone of 4,000 robotic surgeries successfully performed with our SSi Mantra surgical robotic system reflects its world-class quality, differentiated features, ease of use, and growing acceptance by leading physicians in India, where SS Innovations leads the market, and beyond. Our SSi Mantra systems are cleared to market in seven countries, and we are taking important steps to enter the United States and European Union markets. We continue along the pathway towards a European Union CE Mark decision as soon as late 2025 and a U.S. Food and Drug Administration decision as soon as the first half of 2026.' Surgery types performed with the SSi Mantra to date: General Surgery Urology Gynecology Cardiac Gastrointestinal Thoracic Head and Neck Breast and Plastic Countries where the SSi Mantra is approved to market: India Nepal Ecuador Guatemala Philippines Indonesia Ukraine About SS Innovations SS Innovations International, Inc. (Nasdaq: SSII) develops innovative surgical robotic technologies with a vision to make the benefits of robotic surgery affordable and accessible to a larger segment of the global population. The Company's product range includes its proprietary 'SSi Mantra' surgical robotic system and its comprehensive suite of 'SSi Mudra' surgical instruments, which support a variety of surgical procedures including robotic cardiac surgery. An American company headquartered in India, SS Innovations plans to expand the global presence of its technologically advanced, user-friendly, and cost-effective surgical robotic solutions. Visit the Company's website at or LinkedIn for more information and updates. About the SSi Mantra The SSi Mantra surgical robotic system is a user-friendly, modular, multi-arm system with many advanced technology features, including: 3 to 5 modular robotic arms, an open-faced ergonomic surgeon command center, a large 3D 4K monitor, a touch panel monitor for all patient related information display a virtual real-time image of the robotic patient side arm carts, and the ability for superimposition of 3D models of diagnostic imaging. A vision cart provides the table-side team with the same magnified 3D 4K view as the surgeon to provide better safety and efficiency. The SSi Mantra utilizes over 40 different types of robotic endo-surgical instruments to support different specialties, including cardiac surgery. The SSi Mantra has been clinically validated in India in more than 100 different types of surgical procedures. Forward Looking Statements This press release may contain statements that are not historical facts and are considered forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words 'anticipate,' 'assume,' 'believe,' 'estimate,' 'expect,' 'will,' 'intend,' 'may,' 'plan,' 'project,' 'should,' 'could,' 'seek,' 'designed,' 'potential,' 'forecast,' 'target,' 'objective,' 'goal,' or the negatives of such terms or other similar expressions to identify such forward-looking statements. These statements relate to future events or SS Innovations' future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investor Contact: The Equity Group Kalle Ahl, CFA T: (303) 953-9878 kahl@ Devin Sullivan, Managing Director T: (212) 836-9608dsullivan@ Media Contact:press@ (212) 739-0300Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14-05-2025
- Business
- Yahoo
SS Innovations Reports First Quarter 2025 Financial Results
Record Quarterly Revenue of $5.1 Million Driven by Higher SSi Mantra 3 Unit SalesOn Track for July 2025 De Novo Application to the FDA for SSi Mantra 3 FORT LAUDERDALE, Fla., May 14, 2025 (GLOBE NEWSWIRE) -- SS Innovations International, Inc. (the 'Company' or 'SS Innovations') (Nasdaq: SSII), a developer of innovative surgical robotic technologies dedicated to making robotic surgery affordable and accessible to a global population, today announced unaudited financial results for the three months ended March 31, 2025. The Company also filed its Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, with the Securities and Exchange Commission on May 14, 2025. First Quarter 2025 Overview Revenue increased 40.8% to $5.1 million from $3.6 million in the first quarter of 2024. Gross margin expanded 121 basis points to 21.23% from 20.02% in the first quarter of 2024. Gross profit rose 49.3% to $1.1 million from $0.7 million in the first quarter of 2024. Net loss of $5.7 million, or $(0.03) per diluted share, compared to net loss of $9.8 million, or $(0.06) per diluted share, in the first quarter of 2024. SSi Mantra surgical robotic system installations totaled 15, up 66.7% from 9 installations in the first quarter of 2024. As of March 31, 2025 Long-term debt of $0. Cash and cash equivalents totaled $15.9 million, excluding restricted cash. SSi Mantra cumulative installed base totaled 78 and cumulative surgeries reached 3,568. Subsequent Events On April 25, 2025, the Company's common stock uplisted to The Nasdaq Capital Market®. CEO CommentaryDr. Sudhir Srivastava, Chairman of the Board and Chief Executive Officer of SS Innovations, commented, 'In the first quarter of 2025, we achieved record quarterly revenue of $5.1 million, up 40.8% from $3.6 million in the first quarter of 2024, driven by higher unit sales of our innovative, cutting-edge SSi Mantra 3 surgical robotic system to leading healthcare facilities in India and abroad. Our gross margin also improved during the quarter, primarily reflecting a reduction in raw material prices. With an expanding installed base and growing utilization of SSi Mantra 3 by medical professionals globally, SS Innovations is well positioned for continued robust organic growth during the remainder of the year.' Dr. Srivastava continued, 'After quarter end, we uplisted to Nasdaq, an exciting milestone that symbolizes a new chapter of global expansion for the Company. We intend to widen our presence beyond the seven countries where our SSi Mantra surgical robotic system has been cleared to market, with a focus on pursuing approval in the European Union and United States. We plan to submit a De Novo application for SSi Mantra to the U.S. Food and Drug Administration by the end of July 2025 for multiple indications and continue along the pathway towards a European Union CE Mark decision as soon as late 2025. Our vision is to decentralize and democratize robotic surgery by deploying our cost-effective, gold-standard SSi Mantra 3 devices across the globe for the benefit of a wider range of patients in need.' Select Business Highlights in First Quarter 2025 The SSi Mantra 3 surgical robotic system enabled the world's first ever robotic cardiac telesurgery. The Company's state-of-the-art mobile telesurgery unit debuted in India with the aim of improving remote surgical access. The SSi Mantra 3 received medical device regulatory approvals in the Philippines and Ukraine. Revenue Breakdown and Summary of Installations / Surgeries Category Q1 2024 Q1 2025 VarianceSystem sales $3,494,759 $4,502,482 $1,007,723 28.8 % Instrument sales 118,515 477,208 358,693 302.7 % Warranty sales 9,407 122,504 113,097 1,202.3 % Lease income 15,012 18,416 3,404 22.7 % Total revenue $3,637,693 $5,120,610 $1,482,917 40.8 % SSi Mantra installations 9 15 6 67 % Cumulative installed base1 24 78 54 225 % SSi Mantra surgeries 361 787 426 118 % Cumulative surgeries1 981 3,568 2,587 264 % 1 at period end About SS Innovations SS Innovations International, Inc. (Nasdaq: SSII) develops innovative surgical robotic technologies with a vision to make the benefits of robotic surgery affordable and accessible to a larger segment of the global population. The Company's product range includes its proprietary 'SSi Mantra' surgical robotic system and its comprehensive suite of 'SSi Mudra' surgical instruments, which support a variety of surgical procedures including robotic cardiac surgery. An American company headquartered in India, SS Innovations plans to expand the global presence of its technologically advanced, user-friendly, and cost-effective surgical robotic solutions. Visit the Company's website at or LinkedIn for more information and updates. About the SSi Mantra The SSi Mantra Surgical Robotic System is a user-friendly, modular, multi-arm system with many advanced technology features, including: 3 to 5 modular robotic arms, an open-faced ergonomic surgeon command center, a large 3D 4K monitor, a touch panel monitor for all patient related information display, a virtual real-time image of the robotic patient side arm carts, and the ability for superimposition of 3D models of diagnostic imaging. A vision cart provides the table-side team with the same magnified 3D 4K view as the surgeon to provide better safety and efficiency. The SSi Mantra utilizes over 40 different types of robotic endo-surgical instruments to support different specialties, including cardiac surgery. The SSi Mantra has been clinically validated in India in more than 100 different types of surgical procedures. Forward-Looking Statements – Safe HarborThis press release may contain statements that are not historical facts and are considered forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words 'anticipate,' 'assume,' 'believe,' 'estimate,' 'expect,' 'will,' 'intend,' 'may,' 'plan,' 'project,' 'should,' 'could,' 'seek,' 'designed,' 'potential,' 'forecast,' 'target,' 'objective,' 'goal,' or the negatives of such terms or other similar expressions to identify such forward-looking statements. These statements relate to future events or SS Innovations International's future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investor Contact:The Equity Group Kalle Ahl, CFA T: (303) 953-9878 kahl@ Devin Sullivan, Managing Director T: (212) 836-9608dsullivan@ Media Contact:press@ (212) 739-0300 SS INNOVATIONS INTERNATIONAL, CONSOLIDATED BALANCE SHEETS(Unaudited) As of March 31,2025 December 31,2024 ASSETS Current Assets: Cash and cash equivalents $ 15,873,217 $ 466,500 Restricted cash 5,886,589 5,838,508 Accounts receivable, net 3,962,202 4,466,047 Inventory, net 14,295,141 10,206,898 Prepaids and other current assets 7,602,794 6,438,338 Total Current Assets 47,619,943 27,416,291 Non- Current Assets: Property, plant, and equipment, net 7,044,307 5,385,955 Right of use asset 2,629,225 2,623,880 Accounts receivable, net 2,818,043 3,299,032 Restricted cash- Non current 318,982 318,527 Prepaids and other non current assets 3,026,461 3,341,528 Total Non-Current Assets 15,837,018 14,968,922 Total Assets $ 63,456,961 $ 42,385,213 LIABILITIES AND STOCKHOLDERS' (DEFICIT) EQUITY Current Liabilities Bank overdraft facility $ 7,682,411 $ 7,994,906 Notes payable - 7,450,000 Current portion of operating lease liabilities 368,309 409,518 Accounts payable 3,641,410 2,312,382 Deferred revenue 1,871,275 1,278,602 Accrued expenses & other current liabilities 1,433,308 1,884,814 Total Current Liabilities 14,996,713 21,330,222 Non- Current Liabilities Operating lease liabilities, less current portion 2,402,653 2,349,118 Deferred Revenue- Non Current 5,405,227 5,173,953 Other non current liabilities 98,078 74,817 Total Non-Current Liabilities 7,905,958 7,597,888 Total Liabilities $ 22,902,671 $ 28,928,110 Stockholders' equity: Preferred stock, authorized 5,000,000 shares of Series A, Non-Convertible Preferred Stock, $0.0001 par value per share; 1,000 shares issued and outstanding as of March 31, 2025 and December 31, 2024 1 1 Common stock, 250,000,000 shares authorized, $0.0001 par value, 193,556,177 shares and 171,579,284 shares issued and outstanding as of March 31, 2025 and December 31, 2024 respectively 19,354 17,157 Accumulated other comprehensive income (loss) (726,911 ) (749,625 ) Additional paid in capital 89,705,829 56,952,200 Capital reserve 899,917 899,917 Accumulated deficit (49,343,900 ) (43,662,547 ) Total stockholders' equity 40,554,290 13,457,103 Total liabilities and stockholders' equity $ 63,456,961 $ 42,385,213 SS INNOVATIONS INTERNATIONAL, CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS(Unaudited) For The Three months ended March 31,2025 March 31,2024 REVENUES System sales 4,502,482 3,494,759 Instruments sale 477,208 118,515 Warranty sale 122,504 9,407 Lease income 18,416 15,012 Total revenue $ 5,120,610 $ 3,637,693 Cost of revenue (4,033,402 ) (2,909,511 ) GROSS PROFIT 1,087,208 728,182 OPERATING EXPENSES: Research & development expense 1,010,095 527,991 Stock compensation expense 2,379,212 7,108,750 Depreciation and amortization expense 208,882 80,101 Selling, general and administrative expense 3,410,872 2,843,659 TOTAL OPERATING EXPENSES 7,009,061 10,560,501 Loss from operations (5,921,853 ) (9,832,319 ) OTHER INCOME (EXPENSE): Interest Expense (379,905 ) (190,088 ) Interest and other income, net 620,405 180,654 TOTAL OTHER INCOME (EXPENSE), NET 240,500 (9,434 ) LOSS BEFORE INCOME TAXES (5,681,353 ) (9,841,753 ) Income tax expense - - NET LOSS $ (5,681,353 ) $ (9,841,753 ) Net loss per share - basic and diluted $ (0.03 ) $ (0.06 ) Weighted average- basic shares 178,836,342 170,729,490 Weighted average- diluted shares 188,599,859 181,609,691 CONSOLIDATED STATEMENTS OF OTHER COMPREHENSIVE LOSS NET LOSS $ (5,681,353 ) $ (9,841,753 ) OTHER COMPREHENSIVE INCOME (LOSS) Foreign currency translation gain/(loss) 6,876 (79,314 ) Retirement Benefit (net of tax) 15,838 8,507 TOTAL COMPREHENSIVE LOSS $ (5,658,639 ) $ (9,912,560 ) SS INNOVATIONS INTERNATIONAL, CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited) For The Three months ended March 31,2025 March 31,2024 Cash flows from operating activities: Net loss $ (5,681,353 ) $ (9,841,753 ) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 208,882 80,101 Operating lease expense 205,275 178,871 Interest Expense 155,015 283,868 Interest and other income, net (140,928 ) (168,746 ) (Reversal of) / Provision for credit loss reserve (422,711 ) 389,330 Stock compensation expense 2,379,212 7,108,750 Changes in operating assets and liabilities: Accounts receivable, net 1,275,750 (3,186,108 ) Inventory, net (5,082,673 ) (1,326,859 ) Deferred revenue 823,947 2,290,417 Prepaids and other assets (1,003,604 ) 56,511 Accounts payable 1,329,028 926,083 Accrued expenses & other liabilities 48,331 705,455 Operating lease payment (197,545 ) (167,838 ) Net cash used in operating activities (6,103,374 ) (2,671,918 ) Cash flows from investing activities: Purchase of property, plant and equipment (872,804 ) (127,255 ) Net cash used in investing activities (872,804 ) (127,255 ) Cash flows from financing activities: Proceeds from bank overdraft facility (net) (312,495 ) 188,259 Proceeds from issuance of convertible notes to principal shareholder 28,000,000 1,000,000 Proceeds from issuance of convertible notes to other investors - 1,450,000 Repayment of convertible notes to principal shareholder, including interest (4,212,637 ) - Repayment of convertible notes to other investors, including interest (1,068,849 ) - Net cash provided by financing activities 22,406,019 2,638,259 Net change in cash 15,429,841 (160,914 ) Effect of exchange rate on cash 25,412 (31,351 ) Cash and cash equivalents at the beginning of the period 6,623,535 7,087,845 Cash and cash equivalents at end of the period $ 22,078,788 $ 6,895,580 Supplemental disclosure of cash flow information: Conversion of convertible notes into common stock, including interest $ 30,645,360 $ - Transfer of systems from inventory to property, plant and equipment $ 994,430 $ 1,422,880
Yahoo
08-05-2025
- Business
- Yahoo
SS Innovations to Submit De Novo Application to the FDA for the SSi Mantra 3 Surgical Robotic System for Multiple Indications
All Clinical Data Validated by Leading Third-Party CRO for Safety, Feasibility and Efficacy FORT LAUDERDALE, Fla., May 08, 2025 (GLOBE NEWSWIRE) -- SS Innovations International, Inc. (the 'Company' or 'SS Innovations') (Nasdaq: SSII), a developer of innovative surgical robotic technologies dedicated to making robotic surgery affordable and accessible to a global population, today announced that the Company is planning to submit a De Novo Classification Request to the U.S. Food and Drug Administration (the 'FDA') for the SSi Mantra 3 surgical robotic system (the 'SSi Mantra 3') in July 2025. If approved by the FDA, the SSi Mantra 3 would be cleared to market in the United States. Submission of the De Novo Classification Request does not guarantee FDA approval. Since the Company began the sale of its system in August 2022 it has installed a total of 80 SSi Mantra robotic surgical systems in 75 hospitals and over 3,800 surgeries have been performed, including over 200 robotic cardiac surgeries. The SSi Mantra 3 version was launched in June 2024, and the Company has already installed 37 systems that have been utilized to perform more than 750 multispecialty robotic surgical procedures, including 70 cardiac cases, with no device related mortality, injury or complications. Real world clinical data, validated by a leading contract research organization ('CRO'), supports the ability of the SSi Mantra 3 to safely perform a wide variety of surgical procedures. The planned submission of the SSi Mantra 3 to the FDA will include an application for multispecialty indications including urology, gynecology, general surgery, and thoracic and cardiac surgery. Dr. Sudhir Srivastava, Chairman of the Board and Chief Executive Officer of SS Innovations, commented, 'We currently have approval to market our SSi Mantra surgical robotic system in six countries and continue to advance our global expansion. We are taking important steps, including the planned De Novo application to the FDA, to introduce our empowering, cost-effective surgical robotic technology to the U.S. market. In parallel, we are pursuing European Union CE Mark approval for our SSi Mantra surgical robotic system and look forward to our future with great confidence.' About SS Innovations SS Innovations International, Inc. (Nasdaq: SSII) develops innovative surgical robotic technologies with a vision to make the benefits of robotic surgery affordable and accessible to a larger segment of the global population. The Company's product range includes its proprietary 'SSi Mantra' surgical robotic system and its comprehensive suite of 'SSi Mudra' surgical instruments, which support a variety of surgical procedures including robotic cardiac surgery. An American company headquartered in India, SS Innovations plans to expand the global presence of its technologically advanced, user-friendly, and cost-effective surgical robotic solutions. Visit the Company's website at or LinkedIn for more information and updates. About the SSi Mantra The SSi Mantra Surgical Robotic System is a user-friendly, modular, multi-arm system with many advanced technology features, including: 3 to 5 modular robotic arms, an open-faced ergonomic surgeon command center, a large 3D 4K monitor, a touch panel monitor for all patient related information display, a virtual real-time image of the robotic patient side arm carts, and the ability for superimposition of 3D models of diagnostic imaging. A vision cart provides the table-side team with the same magnified 3D 4K view as the surgeon to provide better safety and efficiency. The SSi Mantra utilizes over 40 different types of robotic endo-surgical instruments to support different specialties, including cardiac surgery. The SSi Mantra has been clinically validated in India in more than 100 different types of surgical procedures. Forward Looking StatementsThis press release may contain statements that are not historical facts and are considered forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words 'anticipate,' 'assume,' 'believe,' 'estimate,' 'expect,' 'will,' 'intend,' 'may,' 'plan,' 'project,' 'should,' 'could,' 'seek,' 'designed,' 'potential,' 'forecast,' 'target,' 'objective,' 'goal,' or the negatives of such terms or other similar expressions to identify such forward-looking statements. These statements relate to future events or SS Innovations International's future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investor Contact:The Equity Group Kalle Ahl, CFA T: (303) 953-9878 kahl@ Devin Sullivan, Managing Director T: (212) 836-9608dsullivan@ Media Contact:press@ T: (212) 739-0300Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
28-03-2025
- Business
- Yahoo
SS Innovations Continues its International Growth, Receiving Medical Device Regulatory Approvals for the SSi Mantra 3 Surgical Robotic System in both the Philippines and Ukraine
FORT LAUDERDALE, Fla., March 28, 2025 (GLOBE NEWSWIRE) -- SS Innovations International, Inc. (OTC: SSII) ('SS Innovations' or the 'Company'), a developer of innovative surgical robotic technologies dedicated to making world-class robotic surgery affordable for and accessible to a global population, has received regulatory approvals for its SSi Mantra 3 Surgical Robotic System in both the Philippines and Ukraine. SS Innovations International along with RBGM Medical Express Sales Inc., its Manila based distribution partner in the Philippines, is proud to announce the successful registration of the SSi Mantra 3 Surgical Robotic System in the Philippines. The Company believes that this will be a significant step forward in making advanced surgical robotics accessible to Filipino healthcare professionals and institutions. The healthcare market in the Philippines has recently seen rapid growth and now has close to 4,000 hospitals. Commenting on the receipt of regulatory approval, RBGM President Don Gabriel Oligar T. Cariño III, JD, MBA said, 'SS Innovations has started to revolutionize the landscape of robotic surgery by developing cost-effective, high-quality solutions that have brought cutting-edge medical technology to India. With the introduction of the SSi Mantra 3 system to the Philippines, RBGM is committed to bringing the same level of innovation and accessibility to the local medical community.' 'We at RBGM Medical Express Sales Inc. remain steadfast in our mission to deliver state-of-the-art medical technologies that empower healthcare providers, enhance clinical outcomes, and ultimately serve the best interests of the Filipino people. Together, we are excited to embrace the future of surgery—one that is precise, efficient, affordable and accessible to all.' In addition to receiving the regulatory approval in the Philippines, SS Innovations is also pleased to announce the successful granting of the Certificate of Conformity from the Ukrainian Government to the SSi Mantra 3 through its partnership with Loran Group based out of Kiev, Ukraine. Due to the ongoing conflict, many hospitals and medical facilities have been damaged. Despite these challenges, Ukraine has been actively working to restore its medical infrastructure, which may present a unique opportunity for SS Innovations and its partner, Loran Group, to participate in this rebuilding. Speaking on behalf of Loran Group, Ms. Roksolana Dmytriv, Head of International Communications and Regulatory Affairs, commented, 'Obtaining a certificate of conformity confirms that the equipment meets international quality standards, which is a guarantee of reliability and safety. For medical institutions and doctors, this is critically important, as it ensures that patients receive treatment using reliable and high-quality technologies. Thanks to the successful registration of the SSi Mantra 3 Surgical Robotic System in Ukraine, medical institutions will be able to purchase this high-tech and innovative system to perform complex surgeries with a high level of accuracy and safety. Loran Group is proud to partner with SS Innovations and sees great potential for the future of Ukrainian medicine, especially in the field of robotic technologies that allow doctors to achieve new levels of accuracy and efficiency in treatment.' Ms. Dmytriv also commented, 'The SSI Mantra 3 will enable Ukrainian doctors to perform complex and highly precise surgeries in urology, cardiology, general and thoracic surgery, gynecology, and head and neck surgery. The system will enable doctors to reach a level that has been unattainable for many medical institutions in the country until now. This innovative robotic surgical system will also provide patients with the best results with minimal complications and faster rehabilitation. Loran Group's partnership with SS Innovations opens up new opportunities for the development of the medical industry in Ukraine, raising the level of medical services and improving the health of patients.' Commenting on these two milestones, SS Innovations President and COO, Dr. Vishwa Srivastava said, 'We are extremely grateful for the opportunities provided to be able to offer gold standard care to countries and populations that are often overlooked. It has always been our vision and mission to deliver the latest medical technologies to parts of the world that often have limited access to cost-effective and innovative solutions. By receiving both of these regulatory approvals, we are looking forward to launching SSi Mantra 3 Surgical Robotic Programs in the Philippines and Ukraine, delivering the best possible care to their citizens.' About SS Innovations: SS Innovations International, Inc. (OTC: SSII) is a developer of innovative surgical robotic technologies with a vision to make the benefits of robotic surgery affordable and accessible to a larger part of the global population. The Company's product range includes its proprietary 'SSi Mantra' surgical robotic system, and 'SSi Mudra' its wide range of surgical instruments capable of supporting a variety of surgical procedures including robotic cardiac surgery. SS Innovations' business operations are headquartered in India and the Company plans to expand the presence of its technologically advanced, user-friendly, and cost-effective surgical robotic solutions, globally. For more information, visit our website at or LinkedIn for updates. About the SSi Mantra: The SSi Mantra Surgical Robotic System, by SS Innovations, is a modular multi-arm system with many advanced technology features. It allows for the use of 3-5 robotic arms, has an open-faced ergonomic Surgeon Command Centre, 32-inch large 3D 4K monitor, a 23-inch 2D Touch panel monitor for all patient related information display, a virtual real-time image of the robotic Patient Side Arm Carts, and the ability for superimposition of 3D models of diagnostic imaging. The Vision Cart gives the table-side team the same magnified 3D 4K view as the surgeon to provide better safety and efficiency. The modular robotic arms give flexibility in positioning and the number of arms to be used. This allows for collision-free conduct of surgical operations. There are over 40 different types of robotic endo-surgical instruments that can be used for different specialties including cardiac surgery. The learning curve for surgeons is shorter due to the SSi Mantra's ergonomic design and user-friendly features. The SSi Mantra has been clinically validated in India in more than 80 different types of surgical procedures. SS Innovations has commenced the regulatory approval process in the United States and the European Union and anticipates receiving FDA approval to market and CE Mark approval in the second half of 2025. About RBGM Medical Express Sales Inc: RBGM Medical Express Sales, Inc. has the mission to create partnerships with Multinational Medical Device firms to promote, distribute and deliver cutting edge products and reliable services to Health Care units in the Philippines. With the philosophy of Responsible Business Growth Management, it plans to grow sustainably while maintaining its good reputation as a reliable partner to Healthcare Units, achieve goals of our principals, being a viable career for its employees and continuously striving to improve Healthcare for the Filipino people. For more information, visit the RGBM website at About Loran Group: Loran Group is the official importer of medical equipment in Ukraine. The company was founded in 2016 and cooperates with more than 40 leading manufacturers from around the world. The company specializes in equipment for urology, otolaryngology, neurosurgery, general surgery, gynecology and other medical fields. Loran Group pays special attention to the introduction of innovative medical technologies, in particular in the field of robotic surgery, ensuring the availability of advanced technologies for Ukrainian hospitals. For more information, visit the Loran Group website at Forward-Looking Statements: This press release may contain statements that are not historical facts and are considered forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words 'anticipate,' 'assume,' 'believe,' 'estimate,' 'expect,' 'will,' 'intend,' 'may,' 'plan,' 'project,' 'should,' 'could,' 'seek,' 'designed,' 'potential,' 'forecast,' 'target,' 'objective,' 'goal,' or the negatives of such terms or other similar expressions to identify such forward-looking statements. These statements relate to future events or SS Innovations International's future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Follow us on: LinkedIn: YouTube: For media inquiries, please contact: press@ +1-212-739-0300Sign in to access your portfolio
