REG - Creo Medical Group - AGM Statement and Directorate Changes

Creo MedicalAnnouncement

Thu 07:00

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RNS Number : 4171O  Creo Medical Group PLC  26 June 2025

Creo Medical Group plc

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

 

AGM Statement and Directorate Changes

 

Creo Medical Group plc (AIM: CREO), the medical device company focused on the
emerging field of minimally invasive surgical endoscopy for pre-cancer and
cancer patients, provides an update to shareholders ahead of its Annual
General Meeting ("AGM") being held today at the offices of Osborne Clarke LLP
at Halo, Counterslip, Bristol BS1 6AJ.

 

Addressing shareholders, Kevin T. Crofton, Non-Executive Chairman, will say:

 

"I am very pleased with the strong progress we've made over the last year. As
a Board we undertook a major business plan review and focussed on reducing
costs and growing revenue from our Core Technology. I acknowledge that we
still have more to do, but we are confident that Creo is well positioned for
accelerated growth.

 

"As part of our ongoing succession planning and commitment to a strong,
streamlined, and independent governance structure, we announced a sequence of
planned Board changes.  In May, we confirmed the retirement of John Bradshaw,
Creo's Senior Independent Non-Executive Director and Chair of the Audit
Committee. With this, Ivonne Cantu, Non-Executive Director, has stepped in as
Interim Audit Committee Chair while we progress the search for a permanent
successor. In our FY24 results, we also announced that David Woods (Chief
Commercial Officer) and Christopher Hancock (Chief Technology Officer), whilst
continuing their vital executive roles within Creo, would not stand for
re-election to the plc Board at this year's AGM. As such, they will step down
from the Company's board as of today.

 

"This planned Board evolution, initiated in 2024 and continuing into 2025,
reflects a deliberate strategy to strengthen commercial leadership and enhance
governance. It results in a more streamlined Board with a majority of
independent Non-Executive Directors - aligning with best practice and
supporting Creo's next phase of growth.

 

"It has been a pleasure to work with the Board throughout this process. In
particular, I would like to extend my sincere thanks to John Bradshaw for his
long-standing contribution to Creo since its earliest days, and for his
ongoing support during the transition to a new Audit Committee Chair.

 

"As we confirmed last month, 2025 started positively with strong performance
in Q1 for our Core Technology products. With the commercial launch of
Speedboat UltraSlim, SpydrBlade Flex and Speedboat Notch, we expect to see
increasing utilisation of our CROMA platform and related devices. Our
Kamaptive partnership with Intuitive continues to progress well. We expect
more sites will come online for the use of MicroBlate Flex shortly, and we
will see these sites all move into revenue generation once the initial post
market clinical data collection is completed.

 

"Earlier this month we were able to confirm the receipt of FDA clearance for
our SpydrBlade Flex device, the latest addition to our suite of advanced
energy products that can be used in Gastro-Intestinal endoscopic procedures.
SpydrBlade Flex, along with our Speedboat products are all used in Endoscopic
Submucosal Dissection ("ESD"), a procedure used to treat early-stage cancerous
and pre-cancerous lesions in the GI tract. Recent news in the US confirming
reimbursement codes for ESD procedures is very encouraging for the long-term
success of our commercial roll-out of these products in the U.S. market.

 

"I am pleased to see that our focus on the continued transformation of the
Company is delivering further improvements across the Group. We remain
confident that we will see another year of strong growth in our Core
Technology from both existing and new users, and that we remain on track to
deliver against our goals of achieving self-sustaining cashflows and improving
lives.

 

"It has been my pleasure to chair the Board since joining in July 2024, and I
look forward into the remainder of 2025 and beyond with great optimism. I
thank you, our shareholders, for your continued support."

 

Directorate Change

 

Further to the Group's announcement on 19 May 2025, David Woods (Chief
Commercial Officer) and Christopher Hancock (Chief Technology Officer) have
stepped off the Company's Board, effective today. Both will remain as
executive employees of the Group.

 

For further information please contact:

 

 Creo Medical Group plc                                                        www.creomedical.com
                                                                               (https://protect.checkpoint.com/v2/___http:/www.creomedical.com/___.YzJ1OmludHVpdGl2ZTpjOm86NWJlYzBmMzJjY2MyZTBiZWFkNmJkZmVmNzdhM2MwMTI6NjoyYWU4OjczNzQyNWUwODBjYTEwNzAxYWMzNWEyZDQ3YzI1ZmEwYWMzYTc4M2Q2M2NjYzEyNTQwZWM3ODc4NTk3NTE4YTQ6cDpUOk4)
 Richard Craven, Company Secretary                                             Via Walbrook PR

 Deutsche Numis (Nominated Adviser, sole Broker and Financial Adviser)         +44 (0)20 7260 1000

 Freddie Barnfield / Duncan Monteith / Sher Shah

 Walbrook PR Ltd                      Tel: +44 (0)20 7933 8780 or creo@walbrookpr.com (mailto:creo@walbrookpr.com)
 Paul McManus / Alice Woodings        Mob: +44 (0)7980 541 893 / +44 (0)7407 804 654

 

 

About Creo Medical

Creo 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 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
(https://protect.checkpoint.com/v2/___http:/www.creomedical.com/___.YzJ1OmludHVpdGl2ZTpjOm86NWJlYzBmMzJjY2MyZTBiZWFkNmJkZmVmNzdhM2MwMTI6NjoyYWU4OjczNzQyNWUwODBjYTEwNzAxYWMzNWEyZDQ3YzI1ZmEwYWMzYTc4M2Q2M2NjYzEyNTQwZWM3ODc4NTk3NTE4YTQ6cDpUOk4)

 

 

 

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