Creo Medical Group PLC

Equities

CREO

GB00BZ1BLL44

Medical Equipment, Supplies & Distribution

Market Closed - London S.E. Other stock markets 11:35:06 2024-04-26 am EDT			5-day change	1st Jan Change
36.25 ^GBX	0.00%		+4.32%	-21.20%

Apr. 24	ActiveOps sales up; Sancus turnover jumps	AN
Mar. 01	EARNINGS AND TRADING: Dar Global celebrates "outstanding" year	AN

Creo Medical ends "pivotal" 2023 year with clear path to cashflow breakeven

February 12, 2024 at 07:44 am EST

(via NewsDirect)

Creo Medical Group CEO Craig Gulliford tells Proactive's Stephen Gunnion that 2023 was a pivotal year for the company.

Amid challenging market conditions, Creo successfully secured crucial funding, setting a foundation for enhanced operational focus rather than fundraising efforts. Key milestones included the launch of the Speedboat UltraSlim, a significant advancement in minimising medical device size, which led to the company's largest quarter in orders and technology uptake. This innovation, alongside the early market release of selected products, received positive feedback and significant regulatory clearances in the US and Europe, propelling Creo towards a robust setup for 2024.

Furthermore, Creo announced progress with its SpydrBlade and MicroBlate programs, showcasing advancements in surgical technology and partnerships with leading robotic surgery firms.

Financially, Creo reported a 13% revenue increase to £30.8 million and a 10% reduction in operating costs, reflecting strategic shifts towards more cost-effective and revenue-generating operations.

These developments signal Creo's transition into a fully commercial business, with a clear path to cash flow breakeven by 2025.

Contact Details

Proactive UK Ltd

Proactive UK Ltd

+44 20 7989 0813

uk@proactiveinvestors.com

Latest news about Creo Medical Group PLC

ActiveOps sales up; Sancus turnover jumps	Apr. 24	AN
EARNINGS AND TRADING: Dar Global celebrates "outstanding" year	Mar. 01	AN
Creo Medical Group plc Announces Microwave Lung Ablation Update	Mar. 01	CI
Creo Medical makes "considerable strides" toward 2025 break-even goal	Feb. 07	AN
Creo Medical partners with Khalifa University in Abu Dhabi	Feb. 05	AN
Creo Medical Group plc Announces Strategic Collaboration with Khalifa University of Science and Technology	Feb. 05	CI
Creo unveils product in APAC; Unilever hires director	Jan. 31	AN
Creo Medical Group plc Announces Continued Progress on the Phased Market Release of Its Latest Device, Speedboat® UltraSlim	Jan. 31	CI
Creo Medical's Speedboat UlstraSlim device used in Latin America	Jan. 10	AN
Creo Medical's SpeedBoat UltraSlim successfully used in US	Dec. 15	AN
Creo Medical Group plc Announces First Use of Speedboat UltraSlim in the USA	Dec. 15	CI
Good Energy says ZapMap expands into mainland Europe	Dec. 13	AN
Creo Medical Group PLC Announces the Initiation of Its Commercial Launch of Speedboat Ultraslim	Dec. 13	CI
Creo Medical Wins US FDA Nod for Medical Endoscopy Device	Nov. 01	MT
Creo Medical Group plc Receives 510(K) Clearance from the Us Food & Drug Administration for Its Speedboat Ultraslim Device	Nov. 01	CI
Creo Medical says EU launch of SpeedBoat UltraSlim device accelerated	23-10-25	AN
Creo Medical Expedites Medical Endoscopy Device Launch in Europe	23-10-25	MT
Creo Medical Group plc Announces EU Launch Accelerated by 18 Months Eu Regulatory Pathway for Launch Early 2024	23-10-25	CI
Creo Medical Group PLC Announces Change of Nominated Adviser and Joint Broker from Cavendish Securities plc to Cavendish Capital Markets Limited	23-10-16	CI
FTSE 100 Closes Tuesday Up 0.41% as Oil-Price Rises Benefit the Index	23-09-12	DJ
Creo Medical hails Speedboat Inject device as interim loss narrows	23-09-12	AN
FTSE 100 Rises, Led by AB Foods; Smurfit Kappa Slides	23-09-12	DJ
Earnings Flash (CREO.L) CREO MEDICAL GROUP Reports H1 Revenue GBP15.7M	23-09-12	MT
Earnings Flash (CREO.L) CREO MEDICAL GROUP Posts H1 Loss GBP-0.04	23-09-12	MT
Creo Medical Group PLC Reports Earnings Results for the Half Year Ended June 30, 2023	23-09-12	CI

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Company Profile

Creo Medical Group plc is a medical device company. The Company is focused on the development and commercialization of minimally invasive electrosurgical devices, bringing advanced energy to endoscopy. It is engaged in research, development and distribution of electrosurgical medical devices relating to the field of surgical endoscopy. The Company has developed the CROMA powered by Kamaptive full-spectrum adaptive technology, which provides optimized surgical capability and patient outcomes. The Kamaptive is a seamless, intuitive integration of multi-modal energy sources. Its CROMA delivers bipolar radiofrequency (RF) energy for precise localized cutting and focused high frequency microwave (MW) energy for controlled coagulation and ablation via a single accessory port. This technology, combined with its range of patented electrosurgical devices, is designed to provide clinicians with flexible, accurate and controlled clinical solutions.

Sector

Medical Equipment, Supplies & Distribution

Calendar

2024-05-14 - Q4 2023 Earnings Release

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Ratings for Creo Medical Group PLC

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ESG Refinitiv

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Sell

Buy

Mean consensus

BUY

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Last Close Price

0.3625 GBP

Average target price

0.995 GBP

Spread / Average Target

+174.48%

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Medical Equipment