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Overview of SS Innovations International, Inc. (SSII)
SS Innovations International, Inc. is a pioneering developer of innovative surgical robotic technologies dedicated to making advanced and minimally invasive robotic surgery accessible and affordable worldwide. By focusing on the integration of state-of-the-art technological advancements in robotic surgery and surgical robotics, the company has established a solid reputation for transforming traditional surgical practices through its signature platforms.
Core Business Areas and Product Portfolio
The company operates primarily through its proprietary SSi Mantra surgical robotic system and a complementary range of surgical instruments under the SSi Mudra brand. The SSi Mantra system is designed as a modular multi-arm platform that offers enhanced precision and consistency in a variety of surgical procedures, from cardiac surgeries to general and multi-specialty applications. Its innovative design, featuring an ergonomic command center, high-definition 3D 4K visual displays, and modular robotic arms, renders it capable of reducing patient trauma while improving surgical efficiency and safety.
Market Position and Global Expansion
SS Innovations has strategically positioned itself in a competitive market where affordability and advanced technology intersect. By focusing on cost-effective solutions without compromising clinical capabilities, the company differentiates itself from more expensive conventional surgical robot systems. Its footprint in diverse global markets is marked by its regulatory approvals in multiple countries, and a clear intent to expand its operations through strategic partnerships and localized market initiatives. The successful adoption of its platforms in the Asia-Pacific and Latin American regions underscores its commitment to addressing healthcare inequities and providing high-quality robotic surgical solutions.
Technological and Operational Advantages
At the core of SS Innovations’ product suite is a focus on delivering technological advancements that are not only innovative but also user-friendly. The SSi Mantra system’s open-console design and modularity enable it to perform a wide range of surgical procedures, thereby shortening the learning curve for surgeons and improving overall patient outcomes. Additionally, the system’s validation through extensive clinical use in a variety of surgical applications helps solidify its credibility in the marketplace. The company’s operational success is further supported by rigorous internal reviews, adherence to stringent regulatory standards, and a commitment to transparent and compliant financial practices.
Competitive Landscape and Strategic Differentiation
SS Innovations stands out in the robust and rapidly evolving field of surgical robotics by combining advanced technological capabilities with a cost-effective approach. This dual focus has allowed the company to secure a niche among surgeons and healthcare providers who are seeking accessible yet technically advanced solutions. It competes with established players by offering a system that uniquely balances affordability with sophisticated features, such as multi-specialty usability and minimally invasive procedures. The company’s strategy of leveraging feedback from regulatory bodies and integrating comprehensive clinical trial data reinforces its position as a knowledgeable and credible participant within the industry.
Expertise and Authoritativeness in the Surgical Robotics Industry
With a senior team possessing deep expertise in medical research, surgical practices, and technology development, SS Innovations brings a high level of experience and authority to the field of robotic surgery. The involvement of renowned industry figures and independent directors with significant backgrounds in healthcare and robotics further enhances the company’s reputation for excellence, reliability, and innovation. This robust leadership, combined with a commitment to quality and continuous improvement, allows SS Innovations to maintain high standards of patient care and operational efficiency.
Comprehensive Approach to Quality and Accessibility
The company’s core mission to democratize access to high-standard robotic surgery is reflected in its continuous efforts to refine its systems and support infrastructure. Through close collaborations with physicians, surgeons, and clinical institutions around the world, SS Innovations not only addresses current surgical needs but also lays the groundwork for long-term improvements in patient outcomes and accessibility in healthcare. Its emphasis on transparent regulatory compliance and robust financial governance further instills confidence among its partners and stakeholders.
This comprehensive approach underscores SS Innovations' strategic positioning as an influential and innovative player in the field of surgical robotics, focused on enhancing global healthcare delivery with a balanced blend of technology, affordability, and clinical excellence.
SS Innovations International (SSII) has reported significant achievements in 2024, with its SSi Mantra surgical robotic system completing over 3,500 surgeries across 80 installations in 75 hospitals. The company sold 37 systems and installed 8 more on a Pay-Per-Use Lease model in 2024.
Preliminary unaudited results show expected 2024 revenues of over US$22 million, representing a nearly four-fold increase from 2023. Gross margins improved from 12.30% to 36.90%. For Q1 2025, SSII anticipates reaching 78 installations with estimated revenues of US$6.4 million and 45% gross margin.
Key achievements include: zero device-related complications across all procedures, successful telesurgery implementation with 16 procedures completed, expansion of manufacturing capacity to 20 units monthly, training of over 750 surgeons, and regulatory approvals in multiple countries. The company expects FDA and CE approvals by late 2025 or early 2026.
SS Innovations International (OTC: SSII) has secured regulatory approvals for its SSi Mantra 3 Surgical Robotic System in both the Philippines and Ukraine. The company partnered with RBGM Medical Express Sales Inc. in Manila and Loran Group in Kiev for distribution.
The Philippines market, with nearly 4,000 hospitals, represents a significant opportunity for expanding robotic surgery access. In Ukraine, despite ongoing conflict and damaged medical facilities, the Certificate of Conformity approval positions SSII to participate in the country's medical infrastructure rebuilding efforts.
The SSi Mantra 3 system features 3-5 robotic arms, 3D 4K monitoring, and over 40 different types of robotic endo-surgical instruments. It has been clinically validated in India across 80+ surgical procedures. The company anticipates receiving FDA and CE Mark approvals in the second half of 2025.
SS Innovations International (OTC: SSII) has achieved a significant milestone by successfully performing India's first North-to-South robotic cardiac telesurgery using its SSi Mantra 3 Surgical Robotic System. The procedure connected the company's headquarters in Gurugram to Aster CMI Hospital in Bengaluru, spanning over 2,000 kilometers.
The 2-hour-40-minute surgery involved closing a complex Atrial Septal Defect in a 35-year-old patient. Led by Dr. Sudhir Srivastava from Gurugram and supported by Dr. Arul Furtado's team in Bengaluru, the procedure demonstrated exceptional precision with minimal latency.
The SSi Mantra 3, India's first CDSCO-approved surgical robotic system for telesurgery, represents a significant advancement in making specialized surgical care accessible across long distances. This achievement follows previous successful telesurgeries spanning 40 km and 286 km, marking a substantial leap in remote surgical capabilities.
SS Innovations International (OTC: SSII) unveiled its groundbreaking SSI Mantra Tele-Sync Mobile Unit (SSI MantraM) at the Second Global Multi-Specialty Robotic Surgery Conference in Gurugram, India. This first-of-its-kind mobile tele-surgical unit integrates the SSi Mantra 3 Surgical Robotic System with high-speed connectivity to enable remote surgical procedures.
The conference attracted over 1,200 medical professionals. The SSI MantraM is designed to provide robotic-assisted surgery to underserved communities through telesurgery capabilities and real-time collaboration between remote and on-site surgical teams. Notably, the SSi Mantra 3 system is the only robotic system globally to receive CDSCO regulatory approval for telesurgery and tele-proctoring.
The system features 3-5 robotic arms, 3D 4K monitoring, and supports over 40 different types of robotic endo-surgical instruments across various specialties. The company anticipates receiving FDA and CE Mark approval in the second half of 2025.
SS Innovations International (OTC: SSII) announced its 2nd Global Multi-Specialty Robotic Surgery Conference (SMRSC 2025) to be held in Gurugram, India, from March 7-9, 2025. The conference will showcase the company's SSi Mantra 3 Robotic Surgical System, which has already facilitated over 3,200 surgeries across 70+ hospitals globally.
The event will feature live robotic surgeries in multiple specialties and the launch of the SSi Mantra Mobile Unit, a surgical bus designed to expand access to robotic surgical care in underserved areas. The SSi Mantra 3 is notably the only robotic system worldwide with regulatory approval for telesurgery and tele-proctoring from CDSCO, enabling remote surgeries and medical education.
The system features 3-5 robotic arms, 3D 4K monitoring, and over 40 different types of robotic endo-surgical instruments. The company anticipates receiving FDA and CE Mark approvals in the second half of 2025.
SS Innovations International (OTC: SSII) has achieved a historic milestone in global healthcare by successfully performing the world's first robotic cardiac telesurgeries using its SSi Mantra 3 Surgical Robotic System. The procedures, including a robotic-assisted Internal Mammary Artery Harvesting and a Robotic Beating Heart Totally Endoscopic Coronary Artery Bypass (TECAB), were conducted remotely between Gurugram and Jaipur, India, spanning 286 kilometers with a latency of only 40 milliseconds.
This breakthrough was made possible due to the recent approval from the Central Drugs Standard Control Organization (CDSCO), India's regulatory authority, making SS Innovations the first in India to receive such approval for telesurgery and teleproctoring capabilities. The SSi Mantra 3 system has been clinically validated in over 80 different types of surgical procedures in India and is awaiting FDA and CE Mark approvals by the second half of 2025.
The success of these telesurgeries underscores the potential of advanced surgical technology in overcoming geographical barriers, enabling timely and precise medical care. It also marks a significant step forward in making high-quality healthcare accessible to underserved communities, particularly in rural areas.
SS Innovations International (SSII) announced the completion of BDO India LLP's re-audit of its 2022-2023 financial statements, following the termination of its previous auditor BF Borgers CPA PC. The re-audit revealed material errors in prior statements, leading to restated financials showing improved metrics: shareholders' equity increased by $5.42 Million to $19.72 Million, and working capital surplus rose by $3.85 Million to $12.96 Million.
The company has withdrawn its Form S-1 Registration Statement and plans to uplist to NASDAQ without completing the previously contemplated offering. SSII reports over 2,500 completed robotic surgical procedures using its SSi Mantra Surgical Robotic System, with systems now installed in 5 countries, including recent expansion to Indonesia where it completed the country's first robotic cardiac surgery.
SS Innovations International (OTC: SSII) has achieved a significant milestone by becoming the first company in India to receive CDSCO regulatory approval for Telesurgery and Teleproctoring capabilities of its SSi Mantra surgical robotic system. This breakthrough enables remote surgical procedures and training, particularly benefiting patients in rural areas with access to specialized medical care.
The SSi Mantra system features advanced capabilities including 3-5 robotic arms, a 3D 4K monitor, and over 40 different types of robotic endo-surgical instruments. The system has been clinically validated in India across more than 80 different surgical procedures. The company is currently seeking FDA and CE Mark approvals, anticipated in the second half of 2025.
SS Innovations International (OTC: SSII) has achieved a significant milestone by completing Indonesia's first robotic cardiac surgery using its SSi Mantra Surgical Robotic System at Harapan Kita National Cardiac Hospital in Jakarta. Dr. Sudhir Srivastava, the company's Founder and CEO, performed the first Beating Heart Totally Endoscopic Coronary Artery Bypass (TECAB), followed by 7-8 additional robotic-assisted procedures. The procedures included bilateral IMA CABG, ASD Repair, and TECAB surgeries. This achievement marks a significant advancement for Indonesia's healthcare sector, with its population of over 284 million and nearly 3,000 hospitals.
SS Innovations International, Inc. (OTC: SSII) has announced the addition of Tim Adams to its Board of Directors as an Independent Director. Mr. Adams, a healthcare executive with over 40 years of experience, currently serves as a Regional Operating Officer at Ascension, overseeing high-growth Horizontal Business Units. His extensive background includes leadership roles at major healthcare providers such as Tenet Healthcare , Community Health Systems, and HCA.
Dr. Sudhir Srivastava, SS Innovations Chairman and CEO, expressed enthusiasm about Mr. Adams joining during a phase of global growth. The company recently launched the SSI Mantra 3, an advanced surgical robotic system designed for multi-specialty usage. SS Innovations is currently seeking FDA approval and anticipates receiving marketing approval in the second half of 2025.
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