SS Innovations International - the developers of indigenous surgical robotic technologies - said on Thursday that it would list on US exchange Nasdaq.
Sudhir Srivastava, Chairman of the Board and Chief Executive Officer of SS Innovations said that the uplisting to NASDAQ will enhance market awareness of their growth story, improve transparency, expand their potential investor base, and ultimately increase share liquidity, he said.
The trading is expected to commence on April 25, with the company’s shares listed under the ticker symbol 'SSII'.
The company has reported an impressive financial growth for the year ending December 31, 2024, with its revenues reaching $20.6 million- a 3.5-fold increase from the previous year’s revenue of $5.9 million.
“Gross margins also showed significant improvement, rising to 40.9% from 12.3% in 2023, highlighting the company’s robust financial performance and expanding market presence,” the company said.
The company said that it’s surgical robotic systems have been installed in 80 hospitals across 75 locations in India and it plans to expand its footprints to other countries including Nepal, Ecuador, Guatemala, Philippines, Indonesia, Sri Lanka and Ukraine.
“The SSI Mantra Surgical Robotic System is transforming access to advanced robotic surgery, offering a cost-effective solution to a broader patient population. With plans to expand into Europe and the United States, SSII is positioning itself as a global leader in the field of medical robotics, further solidifying India’s role in advancing healthcare technology worldwide.”
With over 3,700 surgeries performed using the SSI Mantra, including more than 200 robotic cardiac procedures, Srivastava “As a proud 'Made in India for the world' innovation, we are helping elevate India’s presence in the global healthcare landscape."
Sudhir Srivastava, Chairman of the Board and Chief Executive Officer of SS Innovations said that the uplisting to NASDAQ will enhance market awareness of their growth story, improve transparency, expand their potential investor base, and ultimately increase share liquidity, he said.
The trading is expected to commence on April 25, with the company’s shares listed under the ticker symbol 'SSII'.
The company has reported an impressive financial growth for the year ending December 31, 2024, with its revenues reaching $20.6 million- a 3.5-fold increase from the previous year’s revenue of $5.9 million.
“Gross margins also showed significant improvement, rising to 40.9% from 12.3% in 2023, highlighting the company’s robust financial performance and expanding market presence,” the company said.
The company said that it’s surgical robotic systems have been installed in 80 hospitals across 75 locations in India and it plans to expand its footprints to other countries including Nepal, Ecuador, Guatemala, Philippines, Indonesia, Sri Lanka and Ukraine.
“The SSI Mantra Surgical Robotic System is transforming access to advanced robotic surgery, offering a cost-effective solution to a broader patient population. With plans to expand into Europe and the United States, SSII is positioning itself as a global leader in the field of medical robotics, further solidifying India’s role in advancing healthcare technology worldwide.”
With over 3,700 surgeries performed using the SSI Mantra, including more than 200 robotic cardiac procedures, Srivastava “As a proud 'Made in India for the world' innovation, we are helping elevate India’s presence in the global healthcare landscape."
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