Further health economics data validates technology

RNS Number : 8032Z

Creo Medical Group PLC

26 May 2021

 

Creo Medical Group plc

("Creo" the "Company" or the "Group")

Further health economics data validates technology

Savings of over £10,000 per procedure using   Speedboat Inject instead of traditional surgery

Creo Medical Group plc (AIM: CREO), a medical device company focused on the emerging field of surgical endoscopy, announces that data from the paper titled: 'Cost-effectiveness analysis of Speedboat submucosal dissection in the management of large non-pedunculated colorectal polyps' demonstrates that the use of Speedboat Inject is highly likely to be a cost-effective strategy for treating both benign and malignant large non-pedunculated colorectal polyps¹("LNPCP") and can lead to cost savings in NHS Hospitals of over £10,000 per procedure versus a traditional surgical outcome for patients, a saving of approximately 50 per cent.  This is double the saving of that which was first suggested and announced by Creo in June 2020.

Clinical data confirms that the health economic benefits through using the Company's CROMA Advanced Energy Platform with Speedboat Inject provides substantially more cost-savings for the NHS than originally thought. This prospective database analysis of 50 patients with LNPCP analysed costs that were valued from the NHS and Personal Social Service. The study concluded that the substantial cost-savings were driven by reducing downstream costs associated with recurrences of lesions, combined with procedure-related complications.

Endoscopists, using traditional techniques to perform a procedure, would ordinarily see a patient have 30cm of bowel removed surgically, under general anaesthetic, with the associated risks and costs of up to five days in hospital.  However, using Creo's Speedboat Inject device enables the removal of gastrointestinal pre-cancerous lesions under sedation, with patients generally able to leave hospital on the same day that the procedure is performed.

Craig Gulliford, Chief Executive Officer of Creo, commented: "We are extremely pleased to see this health economics data providing evidence that our Speedboat procedure could save the NHS over £10,000 per procedure. Our passion has always been to improve patient outcomes, not only through developing innovate medical devices to bring advanced energy to endoscopy, but to also offer economic benefits to healthcare providers, in turn allowing their limited resources to be applied elsewhere; this data demonstrates that. Following the commercial agreement we signed with the Department of Health and Social Care in 2020, offering health service bodies access to our devices at preferential rates, we continue our efforts to train more surgeons to use our technology, allowing the patients and NHS to benefit."

¹ - Large non-pedunculated colorectal polyps (LNPCP) - colonic lesions found inside the large intestine

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About Creo Medical  

Creo Medical, founded in 2003, is a medical device company focused on the development and commercialisation of minimally invasive surgical devices, bringing advanced energy to endoscopy.  The Company's mission is to improve patient outcomes by applying microwave and RF energy to surgical endoscopy.  Creo has developed CROMA, an electrosurgical Advanced Energy Platform that delivers bipolar radiofrequency for precise localised cutting and microwave for controlled coagulation.  This technology provides clinicians with flexible, accurate and controlled surgical solutions.  

The Company's strategy is to bring its CROMA Advanced Energy Platform powered by its full spectrum Kamaptive Technology to market, enabling a suite of medical devices which the Company has designed, initially for the emerging field of GI therapeutic endoscopy, an area with high unmet needs. The CROMA Advanced Energy platform will be developed further for bronchoscopy and laparoscopy procedures. The Company believes its technology can impact the landscape of surgery and endoscopy by providing a safer,  less-invasive  and more cost-efficient option of treatment.  An overview of the Creo Medical device technology portfolio can be seen here:

https://www.rns-pdf.londonstockexchange.com/rns/8918P_1-2020-6-14.pdf  

For more information about Creo Medical please see our website,  www.creomedical.com

 

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