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FORT LAUDERDALE - SS Innovations International, Inc. (Nasdaq:SSII), a medical technology company with a market capitalization of $920 million and impressive revenue growth of 177% in the last twelve months, announced Tuesday it has installed more than 100 of its SSi Mantra surgical robotic systems across India and six other countries, according to a company press release.
The medical technology firm reported that over 5,000 surgical procedures have been successfully performed using the SSi Mantra system, including 240 cardiac surgeries and 32 telesurgeries. This marks significant growth from December 31, 2024, when the company had recorded 2,759 robotic surgeries, including 151 cardiac surgeries and 9 telesurgeries. According to InvestingPro data, the company maintains strong liquidity with a current ratio of 3.18, though it remains unprofitable over the last twelve months.
The SSi Mantra system features 3 to 5 modular robotic arms, a 3D 4K monitor, and over 40 different types of robotic endo-surgical instruments to support various specialties.
SS Innovations plans to submit a De Novo application to the U.S. Food and Drug Administration by the end of July 2025 for multiple indications. The company is also pursuing European Union CE marking certification, potentially by late 2025.
"We are thrilled to surpass the milestone of 100 installations of our SSi Mantra surgical robotic system in India and beyond," said Dr. Sudhir Srivastava, Chairman and CEO of SS Innovations.
SS Innovations, headquartered in India, aims to make robotic surgery more affordable and accessible globally. The company went public on the Nasdaq under the ticker SSII. InvestingPro analysis reveals 8 additional key insights about SSII’s financial health and market position - unlock these valuable insights with a subscription.
In other recent news, SS Innovations International, Inc. announced its intention to submit a De Novo Classification Request to the U.S. Food and Drug Administration for its SSi Mantra 3 surgical robotic system in July 2025. This move aims to authorize the marketing of the SSi Mantra 3 in the United States, following its installation in 80 hospitals globally, facilitating over 3,800 surgeries. The company also recently appointed Arvind Palaniappan as Interim Chief Financial Officer, succeeding Anup Sethi, who will remain as an advisor until a permanent CFO is appointed. In a significant milestone, SS Innovations completed the world’s first robotic telesurgery for weight loss using its SSi Mantra 3 system, connecting surgeons over a distance of 560 miles in India. The company also made headlines with the first robotic cardiac surgery in the Americas, performed in Ecuador using the same system. Additionally, Dr. Vishwajyoti P. Srivastava was appointed as the CEO for the Asia Pacific region, with an increased annual base salary of $300,000. SS Innovations continues to focus on expanding its global presence and making robotic surgery more affordable and accessible.
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