Full Press Release Details
SS Innovations Achieves Significant Milestones in 2023
-Company's award winning SSi Mantra surgical
robotic system has completed over 550 surgeries and is clinically validated to perform more than 40 different types of surgical procedures-
-Company Builds Strong Foundation for Future
FORT LAUDERDALE, FL, January 8, 2024 -- SS Innovations
International, Inc. (the "Company" or "SS Innovations") (OTC: SSII), a developer of innovative surgical robotic
technologies dedicated to making robotic surgery affordable and accessible to a global population, today provided shareholders and the
investment community with a review of the significant milestones the Company achieved in 2023.
Dr. Sudhir Srivastava, Chairman of the Board and
Chief Executive Officer of SS Innovations, and a pioneer in robotic cardiothoracic surgery, stated, "SS Innovations built a strong
foundation in 2023 and has laid the groundwork to achieve significant milestones in the years ahead. Since we completed our merger transaction
with publicly held AVRA Medical Robotics and began trading in the U.S. on the OTC Market in April 2023 under our new name, SS Innovations
International, Inc. and our new trading symbol, "SSII," our SSi Mantra robotic surgical system has been clinically validated
for additional surgical procedures across multiple specialties and is now being utilized in more than 40 different types including thoracic,
cardiac, pediatric, gynecologic, urologic, general surgery, and head and neck surgeries.
"In the past nine months we have achieved
many milestones that included placing our first system in a Central Government Institution in India and receiving regulatory approval
from the Guatemala Ministry of Health, our second approval in addition to that from CDSCO, the Indian Regulatory Body. We also recently
entered into a co-development partnership agreement with Johns Hopkins University, a memorandum of understanding with Surgical Lab, Ltd.,
for a strategic distribution partnership for placement across 27 countries in Africa and an exclusive partnership with MIMA, a prominent
distribution company based in Tbilisi, Georgia, for distribution
of the SSi Mantra throughout CIS countries in Central Asia such as the Republic of Georgia, Kazakhstan, Azerbaijan, Turkmenistan and
Moldova. With growing placements of our award-winning robotic surgical system, we are nearing achievement of our next surgical milestone
of 1,000 cases after surpassing 550 surgical procedures just several weeks ago."
ahead, we're diligently working to secure regulatory approvals in the United States and Europe, which we expect to receive in the
2024 - 2025 timeframe. All of these initiatives have strengthened our foundation for future growth and our momentum is clearly
building. We are excited to be progressing forward in fulfilling our mission to make robotic surgery accessible to the large global population
in need of safe and affordable surgical services," concluded Dr. Srivastava.
Operational Highlights
SS Innovations International, Inc.
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. SSII'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. SSII's business operations are headquartered in India and SSII has plans to expand the presence of its
technologically advanced, user-friendly, and cost-effective surgical robotic solutions, globally. For more information, visit SSII's
website at ssinnovations.com or LinkedIn for updates.
Supporting advanced, affordable, and accessible
robotic surgery, the SSi Mantra Surgical Robotic System provides the capabilities for multi-specialty usage including cardiothoracic,
head and neck, gynecology, urology, general surgery and more. With its modular arm configuration, 3D 4K vision open-console design and
superior ergonomics, the system engages with the surgeon and surgical teams to improve safety and efficiency during procedures. The SSi
Mantra system has received Indian Medical Device regulatory approval (CDSCO) and is clinically validated in India in more than 40 different
types of surgical procedures. The company expects to seek regulatory approvals from the US Food and Drug Administration (FDA) and CE Mark
in Europe in 2024 and 2025.
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.
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