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(Note: SS Innovations International withdrew its plans for a NASDAQ uplisting in a letter to the SEC dated Dec. 9, 2024.)
(Note: This is NOT an IPO. This is a NASDAQ uplisting of the common stock of SS Innovations International, Inc. (SSII Proposed) to the NASDAQ from the OTC Pink Market, where its stock closed at $5.50 on Feb. 13, 2024, according to the prospectus.)
We are a commercial-stage surgical robotics company focused on transforming patient lives by democratizing access to advanced surgical robotics technologies. (Incorporated in Florida)
We design, manufacture and market an advanced, next-generation and affordable robotic surgical system called the SSi Mantra.
While robotic surgical systems have gained acceptance globally in the past two decades for providing greater efficiency, better clinical outcomes and reducing healthcare costs, access to such systems remains largely limited to developed countries such as the United States, those in the EU and Japan.
With SSi Mantra, we are breaking down barriers and accelerating access to surgical robotics technologies in underserved regions of the world.
Developed by a visionary team of surgeons, engineers and industry veterans, the SSi Mantra includes several innovative features to address shortcomings of current generation robotic surgery systems.
Surgeon Console: The SSi Mantra includes an innovative open-faced console, featuring a large 32-inch 4K monitor with a head tracking safety feature that provides a 3DHD image of the surgical field and with up to 10x magnification. The console also has a second 23-inch touch monitor for system controls and DICOM applications. The open console provides significant ergonomic benefits with the surgeon sitting straight instead of leaning his head into the console. The open-faced console improves team communication and teaching during the procedure.
Patient-Side Robotic Arm Carts: The SSi Mantra features modular robotic arms mounted on independent self-balancing carts in 3, 4 and 5-arm configurations for enhanced stability and operability. The mobile carts can be quickly customized to improve utilization. The system provides surgeons with greater flexibility and the ability to adapt to clinical workflows and individual patient requirements.
Vision Cart. The vision cart provides an additional 32-inch 3D 4K resolution monitor, for the operating room staff, thereby expanding the surgeon’s high definition (“3DHD”) view to the entire operating staff.
Tele-Proctoring Capabilities. The SSi Mantra has a built-in live streaming platform that provides an advanced remote proctoring solution for training and teaching purposes.
SSi Mudra: We offer a comprehensive suite of stapling, energy and core instrumentation for our surgical systems, under the brand name of SSi Mudra. SSi Mudra instruments can be utilized for over 50 different surgical procedures. We also have developed a number of specific instruments for cardiac surgery. The SSi Mudra instruments include advanced features such as motion scaling for precision and control of delicate tasks and embedded programmed chips to monitor and track procedures as well as usage and interaction of the instruments with the SSi Mantra system.
These features provide superior outcomes across a variety of disease states, which is critical in order for robotic surgery to become the global standard of care.
The SSi Mantra system has been clinically validated in over 50 types of surgeries and surgeons to date have performed over 700 surgical procedures using the SSi Mantra system.
The SSi Mantra Surgical Robotic System has been granted regulatory and import approval in India, the United Arab Emirates and Guatemala. Based on regulatory approval obtained in India, SSi Mantra has automatic approval and registration in 50 countries and there are an additional 79 countries which require a minimal registration.
We have initiated the process to obtain regulatory approvals in the United States from the Food and Drug Administration (the “FDA”) and in the European Union (CE).
As of the date of this prospectus, we have installed 23 systems, of which 21 are located in India, one in Dubai and one at the Johns Hopkins Hospital in Baltimore, Maryland, for clinical training and ongoing research and development.
We generate revenues from the sale of the SSi Mantra system. We offer our SSi Mantra through three selling models— outright purchase where revenue is realized upfront, purchase on a deferred or installment payment basis, and purchase on a pay per procedure basis where revenue is recognized over time. We also earn recurring revenue from the sales of instruments, accessories, and services. We sell our products directly to customers as well as through distributors.
The system improves patient experience, reduces variabilities and disruption and lowers per-procedure costs. We believe that SSi Mantra benefits patients, physicians and hospitals by providing access to an advanced and optimized robotic system.
*Note: Net loss and revenue figures are for the 12 months that ended Sept. 30, 2023.
(Note: SS Innovations International, Inc. filed its S-1 on Feb. 14, 2024, for its public offering in connection with its NASDAQ uplisting, without disclosing the terms for its public offering. Estimated proceeds of the public offering are $50.0 million.)
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