SS Innovations Stock Price, News & Analysis

SS Innovations International announced the installation of its SSi Mantra Surgical Robotic System at B&B Hospital in Kathmandu, Nepal, marking the first surgical robot in the country. This collaboration aims to enhance healthcare standards by providing advanced surgical options. The SSi Mantra system, known for its precision and minimally invasive capabilities, promises improved patient outcomes and faster recovery times. CEO Dr. Vishwa Srivastava expressed pride in making this technology accessible to Nepal. The hospital's leadership highlighted the potential for significant enhancements in patient care, positioning B&B Hospital as a regional leader in medical innovation.

SS Innovations International (OTC: SSII) has been named a finalist for the 'Outstanding Company' category at the Surgical Robotics Industry Awards 2024. The company’s SSi Mantra Surgical Robotic System is operational in 40 hospitals in India and at Johns Hopkins University Hospital's MISTIC center for clinical training. Other finalists include industry leaders like Intuitive and Medtronic. The awards, held in partnership with Novanta, will be announced on June 26, 2024. CEO Dr. Sudhir Srivastava highlighted the company's growth, including completing 100 robotic cardiac surgeries. The company is pursuing regulatory approvals in the US and EU, expecting FDA and CE Mark approvals in 2025.

SS Innovations International has received regulatory approval from the Indonesian Ministry of Health for its SSi Mantra Surgical Robotic System, enabling clinical use in Indonesia. This approval marks a significant milestone for SS Innovations as it aims to make robotic surgeries more affordable and accessible globally. Indonesia, with over 279 million people, has seen slow adoption of robotic surgery, with only 700 procedures completed since 2012. SS Innovations plans to increase access and decrease costs of robotic surgery in Indonesia. The SSi Mantra, the first surgical robotic system made in India, is clinically validated for over 70 types of surgeries and has completed 100 robotic cardiac surgeries in a year. The company is also seeking regulatory approval in the US and EU, with anticipated approvals in 2025.

SS Innovations (OTC: SSII) announced the engagement of BDO India LLP as its new auditor. This move aims to facilitate the uplisting of SSII’s common stock to a National Securities Exchange and reinforce transparent financial practices. The company has reported significant operational success with 32 installations of its SSi Mantra Surgical Robotic System in India, contributing to four new cardiac surgery programs. For Q1 2024, SS Innovations sold 8 SSi Mantra systems, generating revenues of approximately $7 million, surpassing the total revenue for 2023. CEO Dr. Sudhir Srivastava emphasized the commitment to transparent practices and global expansion, while COO Barry Cohen highlighted the strategic importance of BDO's engagement in supporting long-term growth and market positioning.

SS Innovations has announced that its SSi Mantra Surgical Robotic System has been used to perform over 100 robotic cardiac surgeries, signaling significant market expansion. The SSi Mantra, featuring a unique fifth arm capability, has been utilized in more than 1000 procedures globally. The company anticipates FDA and CE Mark approvals by early 2025, further enhancing its market position. The global cardiac surgery device market is projected to grow from $17.1 billion in 2023 to $24.9 billion by 2030, while the surgical robotics market is expected to increase from $78.8 billion in 2022 to $188.8 billion by 2032. SS Innovations, through its comprehensive robotic cardiac surgery program, aims to provide less invasive, lower cost, and superior outcomes for patients worldwide.

SS Innovations International, Inc. (SSII) achieved a significant milestone by successfully performing the first infant pyeloplasty using its flagship SSi Mantra Surgical Robotic System. The procedure, led by Dr. Chandra Mohan Vaddi in Hyderabad, India, was a success on a 12-month-old baby. The SSi Mantra is the first surgical system made in India and is cost-effective with regulatory approval in India, Guatemala, and Indonesia. The system has been used in over 1000 surgical procedures across various specialties. SS Innovations is seeking regulatory approval in the US and EU by late 2024 or 2025.