REG - Creo Medical Group - Acquisition of Aber Electronics Limited

Creo MedicalAnnouncement

12/11/2021 07:05

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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."

 

Ends

 

Enquires:

 

 Creo Medical Group plc                              www.creomedical.com (http://www.creomedical.com)
 Richard Rees (CFO)                                  +44 (0)1291 606 005

 Cenkos Securities plc                               +44 (0)20 7397 8900
 Stephen Keys / Camilla Hume (NOMAD)
 Michael Johnson / Russell Kerr (Sales)

 Numis Securities Limited (Joint Broker)             +44 (0)20 7260 1000

 Freddie Barnfield / James Black / Duncan Monteith

 Walbrook PR Ltd                                     Tel: +44 (0)20 7933 8780 or creo@walbrookpr.com
 Paul McManus / Sam Allen /                          Mob: +44 (0)7980 541 893 / +44 (0)7502 558 258 / +44 (0)7867 984 082

 Phillip Marriage

 

 

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
(http://www.creomedical.com)

 

 

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