SS Innovations Appoints Milan Rao as Global Chief Operating Officer and Chief Financial Officer

Rhea-AI Summary

SS Innovations (Nasdaq: SSII) appointed Milan Rao as Global Chief Operating Officer and Chief Financial Officer effective January 8, 2026. The Global COO role is newly created; Mr. Rao will succeed Naveen Kumar Amar as CFO following Mr. Amar’s resignation for personal reasons and will be based in the United States during a planned transition period. Mr. Rao brings more than three decades of leadership across healthcare, technology and financial services, with prior roles at Markets and Markets, Wipro, GE Healthcare, Morgan Stanley and Citibank.

The company said Mr. Rao will support growth strategy, operational readiness and scaling of the SSi Mantra surgical robotic platform.

Positive

• Appointed a leader with 30+ years of executive experience
• Created a Global COO role to support operational scale-up
• Named successor ensures a planned transition for the CFO function

Negative

• Previous CFO Naveen Kumar Amar resigned for personal reasons
• Combination of Global COO and CFO roles concentrates executive responsibilities

Key Figures

Executive experience more than three decades Milan Rao’s executive leadership background across global companies

Market Reality Check

$5.52 Last Close

Volume Volume 60,269 is below the 20-day average of 79,526, suggesting limited pre-news positioning. normal

Technical Trading at $5.60, which is below the 200-day MA of $7.14 and about 75% under the 52-week high.

Peers on Argus 1 Down

SSII slipped 0.17% while key peers like IART, AHCO, ESTA and NVCR showed positive price changes. Momentum scans flagged only BBNX with a notable downside move, indicating today’s trading appears more stock-specific than part of a broad sector rotation.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Jan 06	Product expansion update	Positive	+6.5%	New 5mm instruments and detailed installed-base growth metrics for SSi Mantra.
Dec 08	Regulatory submission	Positive	+0.6%	510(k) submission to FDA and EU CE marking timeline for SSi Mantra.
Nov 06	Technology milestone	Positive	-2.3%	First telesurgery using the SSi Mantra Tele Surgeon Console over long distance.
Oct 28	Quarterly earnings	Neutral	-0.9%	Q3 2025 results with strong revenue growth and continued net loss disclosure.
Oct 21	Investor conferences	Neutral	-0.7%	Planned participation in UBS and Stifel healthcare investor conferences.

Pattern Detected

Recent company-specific news, especially technology and product milestones, more often aligned with modestly positive price reactions, though at least one major technical achievement saw a negative move.

Recent Company History

Over the last few months, SS Innovations reported several operational and strategic milestones. On Oct 28, 2025, Q3 results showed strong revenue growth but ongoing losses. Subsequent 8-Ks and press releases highlighted investor conference participation and a first telesurgery using the SSi Mantra Tele Surgeon Console on Oct 17, 2025. A 510(k) submission to the FDA was announced on Dec 5, 2025, followed by new pediatric-focused instruments and installed-base updates as of Dec 31, 2025. Today’s C-suite appointment fits into this broader scaling and commercialization phase.

Market Pulse Summary

This announcement adds a new Global Chief Operating Officer role while combining it with the Chief Financial Officer position, signaling a focus on operational scale and financial oversight. It follows recent milestones such as new instruments, regulatory submissions, and telesurgery achievements. Investors may watch how Milan Rao’s more than three decades of experience translate into execution on growth, cost management, and commercialization in the context of the company’s evolving installed base and international expansion.

Key Terms

m&a activities financial

"managing worldwide operations, cross-functional teams, financial statements and budgets, M&A activities,"

M&A activities are the actions companies take to buy, sell, merge, split off or combine businesses — like one household buying another, two families moving in together, or selling a room to refocus resources. For investors, these moves can quickly change a company’s size, profits, debt and future growth prospects, so announcements can affect share prices, risk and the expected return on an investment.

capital allocation strategies financial

"financial statements and budgets, M&A activities, and capital allocation strategies to scale platforms"

Capital allocation strategies are the plans a company's leaders use to decide how to deploy cash and resources—choosing among options like investing in projects, buying back shares, paying dividends, cutting debt, or holding reserves. Like a household budget that balances spending, saving and paying bills, these choices directly affect a company’s growth prospects, risk profile and the potential returns shareholders receive over time.

cloud-based saas technical

"Global Business Head of Smart Energy Water, a cloud-based SaaS company; President of Wipro Limited,"

A cloud-based SaaS (Software as a Service) is software that customers access over the internet instead of installing it on their own computers, with the provider hosting, updating and securing the application remotely. Investors care because this model creates recurring subscription revenue, lower customer switching costs and scalable growth—similar to a utility meter that keeps billing as usage rises—making cash flow more predictable and valuations sensitive to customer retention and growth rates.

capital markets financial

"significant financial and capital markets experience through leadership roles at Morgan Stanley"

Capital markets are places where people and organizations buy and sell long-term investments like stocks and bonds. They help connect those who need money to grow or fund projects with investors looking to earn returns over time. For investors, capital markets are important because they offer opportunities to invest, save, and grow their wealth through a variety of financial assets.

AI-generated analysis. Not financial advice.

FORT LAUDERDALE, Fla., Jan. 08, 2026 (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 the appointment of Milan Rao as the Company’s Global Chief Operating Officer and Chief Financial Officer. The Global Chief Operating Officer role is a newly created position. Mr. Rao will succeed Naveen Kumar Amar as Chief Financial Officer following Mr. Amar’s resignation from the Company for personal reasons. Mr. Rao will be based in the United States and will work closely with the Chairman and executive leadership team during a planned transition period.

Mr. Rao brings to SS Innovations more than three decades of executive leadership experience driving technology-enabled transformation, operational efficiency and growth at leading global companies across industries, including the healthcare sector. During his career, he has developed expertise in managing worldwide operations, cross-functional teams, financial statements and budgets, M&A activities, and capital allocation strategies to scale platforms and deliver profitable growth.

Dr. Sudhir Srivastava, Chairman of the Board and Chief Executive Officer of SS Innovations, commented, “Milan brings to SS Innovations a commendable track record of building high-performance teams and growing multinational businesses through his hands-on leadership approach. His appointment reflects our commitment to attracting top talent to our executive team as we continue to expand the global footprint of our advanced, cost-effective SSi Mantra surgical robotic system. Milan will play an integral role in defining our growth strategy and delivering on our promise of democratizing robotic surgery for a broader segment of patients in need.”

Mr. Rao added, “I am pleased to begin working with Dr. Srivastava and the SS Innovations leadership team during this transition. SS Innovations has built a compelling and differentiated robotics platform and I look forward to contributing to the Company’s strategic direction, operational readiness and long-term value creation as the organization continues to evolve and scale.”

Most recently, Mr. Rao has been serving as Chief Operating Officer and Chief Revenue Officer of Markets and Markets, a global research and consulting firm. Prior to that, he held senior global leadership roles including President and Global Business Head of Smart Energy Water, a cloud-based SaaS company; President of Wipro Limited, a leading global technology services firm; and President & CEO for India & Emerging markets at GE Healthcare. Earlier in his career, Mr. Rao gained significant financial and capital markets experience through leadership roles at Morgan Stanley and Citibank.

Mr. Rao graduated with a Bachelor of Science degree in Computer Science & Engineering from the Indian Institute of Technology (Banaras Hindu University) Varanasi, where he has been recognized as a Distinguished Alumnus, and a Master of Business Administration degree in Finance & Marketing from the India Institute of Management Calcutta.

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 robotic surgical procedures including 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 ssinnovations.com 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@theequitygroup.com

Devin Sullivan, Managing Director
T: (212) 836-9608
dsullivan@theequitygroup.com

Media Contact:
RooneyPartners LLC
Kate Barrette
T: (212) 223-0561
kbarrette@rooneypartners.com

FAQ

Who is Milan Rao and what roles will he hold at SS Innovations (SSII)?

Milan Rao was appointed Global Chief Operating Officer and Chief Financial Officer of SS Innovations effective January 8, 2026.

When did SS Innovations announce the appointment of Milan Rao (SSII)?

The appointment was announced on January 8, 2026.

Why is Milan Rao replacing Naveen Kumar Amar as CFO of SS Innovations (SSII)?

Milan Rao will succeed Naveen Kumar Amar following Mr. Amar’s resignation for personal reasons.

What experience does Milan Rao bring to SS Innovations (SSII)?

Mr. Rao has over three decades of leadership across healthcare, technology and financial services, including roles at Markets and Markets, Wipro, GE Healthcare, Morgan Stanley and Citibank.

Where will Milan Rao be based while serving as SS Innovations COO and CFO (SSII)?

Mr. Rao will be based in the United States and work with the chairman and executive team during a planned transition period.

How will Milan Rao’s appointment affect SS Innovations’ strategy for the SSi Mantra surgical robot (SSII)?

The company said Mr. Rao will help define growth strategy, improve operational readiness and support scaling of the SSi Mantra robotic platform.