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Creo Medical (AIM: CREO)

Last close As at 19/07/2024

GBP0.32

▲ −0.25 (−0.78%)

Market capitalisation

GBP116m

UK-based Creo Medical focuses on the development and commercialisation of minimally invasive electrosurgical devices. Its six products in the flagship CROMA platform have all been CE marked, with five cleared by the FDA. Acquired in 2020, Albyn Medical provides Creo with profitable products and a direct salesforce in Europe.

Creo’s products are in a large and lucrative market. Conmed estimates that the GI endoscopic technologies market is worth c $3.0–3.2bn and the radiofrequency energy-based surgical device market is worth $2.7–2.9bn pa. Entering the robotics and laparoscopic markets further increases the scale of opportunity open to Creo.

Latest Insights

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Healthcare | Flash note

Creo Medical — Intuitive deal expansion is a notable milestone

Healthcare | edison tv

Creo Medical – executive interview with Craig Gulliford, CEO

Healthcare | Update

Creo Medical — Setting the stage for pivotal growth

Healthcare | Flash note

Creo Medical — NHS data validates Speedboat’s economic merit
creo05
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Sector

Healthcare

Equity Analyst

Soo Romanoff

Soo Romanoff

Managing Director - Head of Content, Healthcare

Nidhi Singh

Nidhi Singh

Analyst

Jyoti Prakash

Jyoti Prakash

Analyst, Healthcare

Arron Aatkar

Associate analyst

Key Management

  • Craig Gulliford

    CEO

  • David Woods

    Chief commercial officer

  • Richard Rees

    CFO

Balance Sheet

Forecast net cash (£m)

0.1

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (5.9) (7.9) (5.9)
Relative (5.9) (11.6) (12.7)
52 week high/low 48.1p/29.8p

Financials

Creo Medical has expanded its collaborative agreement with leading robotics manufacturer Intuitive Surgical, to include additional sites in the UK and Europe testing MicroBlate Flex in combination with Intuitive’s Ion surgical system for combined lung cancer diagnostics and treatment. The first such successful procedure under a clinical trial setting was announced in March 2024 by Professor Shah at Royal Brompton Hospital and the addition of new centres could potentially drive accelerated adoption of the MicroBlate Flex (commercial roll-out is planned over the next 12 months, with first procedures from the new sites expected in H2 CY24). We view this deal expansion as a validation of the utility of Creo’s technology in robotics-assisted procedures and a sentiment boost ahead of MicroBlate Flex’s commercial launch later this year.

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2022A 27.2 (28.3) (28.6) (13.52) N/A N/A
2023A 30.8 (22.4) (22.1) (6.17) N/A N/A
2024E 40.1 (16.3) (16.6) (3.89) N/A N/A
2025E 54.1 (4.7) (4.8) (1.00) N/A 283.5

Research

edison tv

Healthcare

Creo Medical – executive interview with Craig Gulliford, CEO

Update

Healthcare

Creo Medical — Setting the stage for pivotal growth

Healthcare

Flash note

Creo Medical — Intuitive deal expansion is a notable milestone
View All

Thematics

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