Surgical Innovations Group plc announced that Doug Liversidge CBE has served as a Non-Executive Director of the Company since 1998, and was Chairman until October 2015. He has now decided to step down from the Board to focus on his other business activities. The Board has accepted his resignation as a director with immediate effect. Professor Mike McMahon will continue to lead the clinical activities of the Company as a Non-Executive Director. The board also announced the immediate appointment of two independent Non-Executive Directors, Alistair Taylor and Paul Hardy. Alistair is a vastly experienced director in life science companies with exposure to both pharmaceutical and med-tech sectors. After forging a successful career with Beecham Group Limited and Pfizer Inc., he has gone on to lead a number of public and private businesses in the medical field in the UK and internationally, initially as CEO of Biocompatibles plc, and later as Chairman of Lombard Medical Technology plc, and Phytopharm plc amongst others. Paul also joins with a wealth of relevant skills and experience. After qualifying as a Chartered Accountant in 1984, he moved into the engineering industry which culminated in leading the private equity-backed management buyout of BI Engineering Limited.

The company announced earnings results for the full year ended December 31, 2015. Revenues for the year were approximately £5.5 million, an increase of 36% compared with the prior year. Net bank borrowings at the end of the financial year were approximately £1.0 million compared with £2.3 million for the same period a year ago.