Acquisition of Aber Electronics Limited

RNS Number : 1636S

Creo Medical Group PLC

12 November 2021

 

 Creo Medical Group plc

("Creo" or the "Company")

Acquisition of Aber Electronics Limited

Creo Medical Group plc (AIM: CREO), a medical device company focused on the emerging field of surgical endoscopy, announces the acquisition of Aber Electronics Limited ("Aber"), a UK based manufacturer and designer of power amplifiers and radio frequency products, for a fixed cash consideration, plus a contingent consideration over three years.

Creo is an existing customer of Aber, using its products within the CROMA Advanced Energy Platform. This acquisition will complement Creo's research, design and manufacturing processes, provide additional specialist microwave and radio frequency capability and expertise within the business and enhance a key element of the Group's supply chain. Creo anticipates leveraging the additional resource and expertise that it has acquired to further develop its Kamaptive Technology, the advanced energy which powers the CROMA Platform.

Craig Gulliford, Chief Executive Officer of Creo, commented:

"Being an existing customer of Aber and having worked closely with the management team for a number of years, we are familiar with the quality of its products and the team there, and I'd like to welcome them all to the Creo Group. This acquisition fits with the 'Buy' aspect of our three-tiered 'Build, Buy, Partner' strategy, in acquiring a company with existing manufacturing operations, to complement and add capability in Creo's product development and production."  

Andrew Haynes, Managing Director of Aber Electronics, commented:

"We are pleased to join Creo Medical, with which we have a longstanding business relationship. We look forward to providing our specialist Microwave and RF products, and development and manufacturing capability as part of the Creo Group."

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Enquires:

Creo Medical Group plc	www.creomedical.com
Richard Rees (CFO)	[phone]
Cenkos Securities plc	[phone]
Stephen Keys / Camilla Hume (NOMAD)
Michael Johnson / Russell Kerr (Sales)
Numis Securities Limited (Joint Broker) Freddie Barnfield / James Black / Duncan Monteith	[phone]
Walbrook PR Ltd	Tel: [phone] or [e-mail]
Paul McManus / Sam Allen  / Phillip Marriage	Mob: [phone]

About Creo Medical 

Creo Medical is a medical device company focused on the development and commercialisation of minimally invasive electrosurgical devices, bringing advanced energy to endoscopy.

The Company's vision is to improve patient outcomes through the development and commercialisation of a suite of electrosurgical medical devices, each enabled by CROMA, powered by Kamaptive. The Group has developed the CROMA powered by Kamaptive full-spectrum adaptive technology to optimise surgical capability and patient outcomes. Kamaptive is a seamless, intuitive integration of multi-modal energy sources, optimised to dynamically adapt to patient tissue during procedures such as resection, dissection, coagulation and ablation of tissue. Kamaptive technology provides clinicians with increased flexibility, precision and controlled surgical solutions.  CROMA currently delivers bipolar radiofrequency ("RF") energy for precise localised cutting and focused high frequency microwave ("MW") energy for controlled coagulation and ablation via a single accessory port. This technology, combined with the Group's range of patented electrosurgical devices, is designed to provide clinicians with flexible, accurate and controlled clinical solutions. The Group's three initial areas of focus are (1) in the GI, (2) soft tissue ablation (including but not limited to, the liver, pancreas, kidney) and (3) lung interventions for the resection and/or ablation of pre-cancerous and cancerous lesions. The Directors believe the Company's technology can impact the landscape of surgery and endoscopy by providing a safer, less-invasive and more cost-efficient option for procedures.

For more information, please refer to the website www.creomedical.com

 

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