SS Innovations International, which makes robotic surgical systems, filed on Wednesday with the SEC to raise up to $50 million in an initial public offering. The company is currently listed on the OTC under the symbol "SSII."
SS Innovations International is a commercial-stage surgical robotics company focused on designing, manufacturing, and marketing an advanced, next-generation, and affordable robotic surgical system called the SSi Mantra. The SSi Mantra includes an 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. SS Innovations has installed 23 systems to date, in India (21), Dubai (1), and the US (1). The 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 Gurugram, India-based company was founded in 2015 and booked $5 million in revenue for the 12 months ended September 30, 2023. It plans to list on the Nasdaq under the symbol SSII. Freedom Capital Markets is the sole bookrunner on the deal. No pricing terms were disclosed.
