Creo Medical

Overview
Price performance
Financials
Research
Thematics

UK-based Creo Medical focuses on the development and commercialisation of minimally invasive electrosurgical devices. Its six products in the flagship CROMA platform have all been CE marked, with five cleared by the FDA. Acquired in 2020, Albyn Medical provides Creo with profitable products and a direct salesforce in Europe.

Creo’s products are in a large and lucrative market. Conmed estimates that the GI endoscopic technologies market is worth c $3.0–3.2bn and the radiofrequency energy-based surgical device market is $2.7–2.9bn pa. Entering the robotics and laparoscopic markets further increases the scale of opportunity open to Creo.

Latest Insights

Healthcare |
Flash note

25.04.24

Creo Medical — NHS data validates Speedboat’s economic merit

Healthcare |
Flash note

04.03.24

Creo Medical — MicroBlate Flex progresses with first robotics use

Healthcare |
Flash note

08.02.24

Creo Medical — Solid FY23 lays the groundwork for 2024

Healthcare |
Flash note

14.12.23

Creo Medical — UltraSlim launch – kicking off FY24 momentum

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Sector

Healthcare

Equity Analyst

Soo Romanoff

Managing Director - Head of Content, Healthcare

Nidhi Singh

Analyst

Jyoti Prakash

Analyst, Healthcare

Arron Aatkar

Associate analyst

Key Management

Craig Gulliford

CEO
David Woods

Chief commercial officer
Richard Rees

CFO

Balance Sheet

Forecast net debt (£m)

5.7

Forecast gearing ratio (%)

Share Price Performance

Price Performance
%	1M	3M	12M
Actual	(4.5)	(14.9)	33.7
Relative	(5.6)	(19.9)	31.3
52 week high/low	48.1p/23.2p

Financials

Creo Medical has presented real-world evidence of the economic utility of its minimally invasive electrosurgical devices, based on NHS data from 130 submucosal dissection procedures using Creo’s flagship Speedboat Inject device. The data demonstrated net cash savings of £687k for the NHS trust, driven by a significant reduction in both hospitalisation and critical care costs. We believe this provides external validation to Creo’s pursuit of improving patients’ outcomes through its novel suite of devices. Speedboat Inject is currently being assessed by the National Institute for Health and Care Excellence (NICE) and we believe this data could support a positive recommendation and improved NHS adoption.