REG - Creo Medical Group - NHS Speedboat data demonstrates savings

Creo MedicalAnnouncement

24/04/2024 07:00

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RNS Number : 7686L  Creo Medical Group PLC  24 April 2024

Creo Medical Group plc

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

 

NHS Supply Chain real-world data demonstrates substantial cash savings and
operational benefits from Speedboat Submucosal Dissection (SSD) procedures

 

Case study by an NHS Trust sets out the cash savings and operational benefits
gained from the use of Creo's Speedboat technology for bowel SSD procedures,
in addition to life changing clinical outcomes for patients

 

Creo Medical Group plc (AIM: CREO), the medical device company focused on the
emerging field of minimally invasive surgical endoscopy, announces that NHS
Supply Chain data demonstrates significant cost and operational savings
provided by the use of Creo's Speedboat technology in Speedboat Submucosal
Dissection ("SSD") procedures. This is in addition to life changing patient
outcomes previously identified by the Company and the ability to positively
impact NHS waiting lists.

 

By analysing 130 SSD patient procedures undertaken at East Kent University
Hospitals Foundation Trust ("EKHUFT") as part of their bowel cancer and
therapeutic endoscopy service, and comparing against a similar analysis of
surgical alternatives, the data confirmed includes:

 

·     87% reduction in the average length of stay from 8.39 days to
1.07 days;

·     99% reduction in critical care costs;

·     91% reduction in accommodation costs per patient from £3.4k to
£0.3k;

·     62% reduction in admission costs from £8.2k to £3.1k;

·     Over a 1-year period, costs were reduced from £8.8k to £3.6k (59%
reduction);

·     Theatre procedure cost reduced from £4.5k to £2.8k (38%
reduction);

·     Net cash savings from just these 130 patient procedures of £687k
realised for the NHS Trust.

 

The net cash savings referenced were calculated over a one-year period and
relate only to the SSD procedure element, and do not include additional
benefits and costs savings previously identified and reported by the Company
utilising the lifetime horizon Markov model, which included downstream costs
associated with recurrence of lesions and procedure-related complications
commonly associated with surgical alternatives to SSD.

 

NHS Supply Chain manages the sourcing, delivery and supply of healthcare
products, services and food for NHS Trusts and healthcare organisations across
England and Wales. Against the backdrop of ever increasing demands on the NHS
and finite financial and operational resources, NHS Supply Chain has embarked
on a value based procurement project to work with industry to consider
technologies that can influence a reduction in total costs within the patient
pathway.

 

Working with EKHUFT, NHS Supply Chain's Value Based Procurement team's case
study found that: "the use of SSD, when compared to surgical alternatives,
results in a less invasive procedure for patients whilst maintaining an
en-bloc resection with clear margins. The endoscopic nature of the procedure
and Speedboat's advanced energy modalities makes this procedure both safe and
effective whilst simultaneously reducing time spent in hospital and providing
cost benefits in terms of the material and resourcing costs associated with
each procedure."

 

It continued:

 

"Using financial modelling on the data generated, EKHUFT has been able to
evidence that the adoption of this novel technology and its implementation as
part of a new service has resulted in significant savings for the Trust. The
detailed dataset will also enable statistical analysis and health economics
evaluations to be successfully undertaken with confidence."

 

The data is the first like-for-like, real-world comparative health economic
data provided on the service facilitated by Creo's Speedboat technology. It
has been calculated using official NHS data with the analysis conducted using
NHS England 'Approved Costing Guidance', recognised by all NHS Trusts in
addition to industry bodies and includes a breakdown of all comparators, from
theatre time to accommodation cost. The data and associated benefits have been
captured as part of an official NHS Supply Chain case study promoting
innovative technology and how technology can drive NHS savings.

 

The full case study and a breakdown of results will be published on the NHS
Supply Chain website, and NHS Supply Chain will actively work to promote the
value proposition of Creo's Speedboat technology by engaging directly with
financial controllers and decision makers at NHS Trusts around the country.
The case study will also be shared with the Department of Health and Social
Care, NICE and others to illustrate the scope and speed of impact Creo's
Speedboat technology can have, not only on patients and clinicians but on
healthcare providers.

 

Creo has previously received a series of awards from the National Institute
for Health and Care Research (NIHR) Invention for Innovation (i4i) Programme
to support certain development projects, including the development of
Speedboat, which targets innovative technology, with a clear path to
commercialisation, that can improve patient outcomes and simultaneously reduce
cost. This latest published data from NHS Supply Chain not only reinforces
NIHR's investment decision to support Creo in the development of its Speedboat
technology, but clearly illustrates how such investment benefits patients,
healthcare providers and the NHS by enabling the development of solutions to
address existing and/or emerging health or social care needs.

 

Craig Gulliford, Chief Executive Officer of Creo Medical, said: "For NHS
Supply Chain to recognise Creo's Speedboat technology as one of just a handful
of cutting-edge technologies from so many indications across the NHS is great
recognition in itself. The clinical data clearly demonstrates the level of
value Speedboat can bring to the NHS and its patients, in-line with our own
previous estimates, which is both gratifying and hugely significant.

 

"With this data, no longer based on modelling, but gained by looking at every
aspect of a comprehensive data set of real cases, we look forward to working
closely with NHS Supply Chain to ensure that the successes seen in East Kent
University Hospitals with Speedboat are replicated in healthcare settings
across the UK. This will enable us to continue to impact on patients and also
reducing waiting lists significantly with the level of efficiency improvements
this data demonstrates."

 

Sandra Owen, Clinical Engagement & Implementation Manager at NHS Supply
Chain, said: "NHS Supply Chain is working on a project designed to consider
the potential benefits and practical application of Value Based Procurement
(VBP). Here, there is a shift in emphasis from a reduction in product
costs to working with industry to consider technologies that can influence
a reduction in total costs within the patient pathway, and Speedboat is a
good example of this."

 

Elisa Llewellyn, Director of Commissioning, Contracting and Costing at EKUFT,
said: "The introduction of this service at East Kent and the pathway it
facilitates have immediately had a positive impact not only in terms of
patient outcomes but also from a value perspective. With over 200 Speedboat
Submucosal Dissection cases now completed at East Kent, our in-depth costing
work clearly shows tangible and consistent financial benefits largely stemming
from a reduction in the time patients are spending in hospital as a result of
our ability to re-direct patients from surgical waiting lists to our excellent
endoscopy unit."

 

Enquiries:

 

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

 Cavendish Capital Markets Limited                  +44 (0)20 7397 8900
 Stephen Keys / Camilla Hume (NOMAD)
 Michael Johnson (Sales)

 Deutsche Numis (Joint Broker)                      +44 (0)20 7260 1000

 Freddie Barnfield / Duncan Monteith / Euan Brown

 Walbrook PR                                        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

 Phillip Marriage                                   +44 (0)7867 984 082

 

 

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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