Completion of freehold site for £4.25m

RNS Number : 2363E

Creo Medical Group PLC

06 July 2021

 

Creo Medical Group plc

("Creo" or the "Company")

Completion of freehold site for £4.25m

Creo Medical Group plc (AIM: CREO), the medical device company focused on the emerging field of surgical endoscopy, confirms that further to the announcement of 14 June 2021 , that it has completed the freehold purchase of Creo House, the Company's main headquarters in Chepstow, as well as the adjacent site, from Fastnet Property Investments Limited, the original developer of the site.

This additional capacity will support Creo's commercial, operational and logistic footprint across Europe (following the acquisition of Albyn Medical S.L. in July and Boucart Medical SRL in November 2020) and will also provide additional manufacturing capacity for the commercial roll-out of the full range of products from the Creo GI (gastro-intestinal) suite of advanced energy devices which complement the Company's CROMA Advanced Energy Platform ("CROMA") and Speedboat device for use in Gastrointestinal ("GI") therapeutic endoscopy.

Enquires:

Creo Medical Group plc	investors.creomedical.com
Richard Rees (CFO)	[phone]
Cenkos Securities plc	[phone]
Stephen Keys / Camilla Hume (NOMAD)
Michael Johnson / Russell Kerr (Sales)
Walbrook PR Ltd	Tel: [phone] or [e-mail]
Paul McManus / Lianne Cawthorne	Mob: [phone]

About Creo Medical  

Creo Medical, founded in 2003, is a medical device company focused on the development and commercialisation of minimally invasive surgical devices, by 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 combines 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 unique full spectrum adaptive 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.  

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

 

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