REG - Creo Medical Group - AGM Statement

Creo MedicalAnnouncement

28/06/2022 07:00

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RNS Number : 3741Q  Creo Medical Group PLC  28 June 2022

Creo Medical Group plc

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

 

AGM Statement

 

Creo Medical Group plc (AIM: CREO), a medical device company focused on the
emerging field of surgical endoscopy, provides an update to shareholders ahead
of its Annual General Meeting ('AGM') today at Osborne Clarke, 2 Temple Back
East, Temple Quay, Bristol BS1 6EG at 10.00 am.

 

Chairman's AGM statement

 

"At the end of May, we delivered our financial results for 2021, reporting on
a year of good progress both financially and strategically. We were also
delighted to be able to announce our exciting collaboration with Intuitive.
Creo's mission remains the same: to improve patient outcomes by bringing
advanced energy to therapeutic endoscopy. We aim to do this via our Build, Buy
and Partner strategy, and our collaboration with Intuitive is one of a number
of partnerships which we are looking to develop to achieve our aims.

 

The commercialisation of our endoscopy devices continues at pace, with our
user community continuing to grow as trainees from our Pioneer Training
Programme are converted into users. We anticipate that high vaccination rates
in both Europe and the US will continue to lessen the impact of COVID-19
during the remainder of 2022, allowing clinicians to focus on the huge backlog
of elective cases, increasing activity in our key areas of clinical focus -
core GI and soft tissue ablation.

 

In terms of revenue growth, 2021 was a year of considerable and strong
progress for the Group. Total sales for the 12 months ended 31 December 2021
were £25.2m. Whilst much of our revenue is derived from Creo Europe
(previously Albyn Medical), revenue from Creo's core products continues to
grow. Furthermore, we are taking steps to leverage this acquisition and open
new markets for certain Albyn products within the USA.

 

Our acquisition of Aber Electronics during 2021 added specialist expertise to
our team whilst securing a key element of our supply chain. This represents a
great example of how the Buy element of Creo's strategy can benefit Creo's
stakeholders as a whole, and we continue to evaluate potential strategic
acquisition opportunities.

 

We also recently established our regional hub in Singapore to support the
commercial roll-out of Creo's products in the APAC region and, alongside our
other global centres such as our US office in Danbury, Connecticut, enable us
to demonstrate products and provide training sessions for clinicians around
the world.

 

Our momentum from 2021 has carried over with strong trading in the year to
date, and the Group continues to innovate, educate clinicians and to
commercialise. The Board looks forward to further updating shareholders during
2022 on important product advancements and meaningful commercial progress. The
solid progress made over the past year underpins the Board's continued
confidence in the Group's opportunities in 2022 and beyond.

 

As a Board, we remain confident in delivering on our Build, Buy and Partner
strategy and I would like to put on record my thanks to our hardworking and
talented team at Creo, and my fellow shareholders alike for their continued
support."

 

Enquiries:

 

 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 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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