Smart Surgical Appliances
Smart Surgical Appliances (“SSA or the Company”), a UK Limited Medical Device Company, is the sole owner and developer of novel patented platform technologies designed to reduce costs and improve safety and outcomes in the exceedingly large but complex minimally invasive surgery (MIS) markets. The MIS market is estimated at $16.4bn (1) and is projected to grow at CAGR (compound annual growth rate) of 8.3% for the forecasted period of 2011-2016.
The target market for the device is estimated at over 10.7mn MIS procedures worldwide annually (2). SSA aims to make most of its revenues from the sale of the SmartShadow™ equipment and the disposable light sources. Based on a forecasted sales price of £100 for the SmartShadow device (current device focus), potential total revenues could amount to circa £1.07bn.
SSA is an Imperial College London spinout from the Department of Surgery and Cancer. To date, SSA raised £70,000 in a pre-seed investment in January 2008 with a further investment of £320,000 in January 2009 from Imperial Innovations Businesses LLP, National Endowment for Science, Technology and the Arts (NESTA) and The Esmée Fairbairn Foundation. This initial capital was used to prove and develop the Company’s technology portfolio. SSA raised a further £100,000 grant through the National Institute for Health Research. These independent peer-reviewed grants serve as further validation of SSA’s technologies.
The Company selected a lead technology from its portfolio and is currently developing and commercialising this product, the SmartShadow™. As part of a previous funding round, in July 2012 SSA raised £200,000 from a cornerstone investor with a further £100,000 in non-dilutive finance from the Technology Strategy Board.
 Minimally Invasive and Non Invasive Product and Service Market (2011 - 2016). Available online at: http://www.marketsandmarkets.com/Market-Reports/minimal-invasive-and-non-invasiveproduct-and-service-market-110.html
 US Markets for Laparoscopic Devices 2014,” Millenium Research Group, Toronto, Ontario, 2013