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Creo Medical (AIM: CREO)

Last close As at 02/07/2024

GBP0.34

▲ 1.25 (3.88%)

Market capitalisation

GBP118m

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

View More

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

Healthcare | Flash note

Creo Medical — MicroBlate Flex progresses with first robotics use
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 (7.8) (8.5) (9.1)
Relative (6.6) (11.7) (17.9)
52 week high/low 48.1p/29.8p

Financials

Creo Medical is developing and commercialising minimally invasive endoscopic electrosurgical devices. Its CROMA advanced energy platform delivers a combination of advanced bipolar radiofrequency and microwave energy for the dissection, resection, ablation and haemostasis of diseased tissue. Its initial focus is on GI tract procedures, soft tissue (eg pancreas and liver) and pulmonology. It has six products CE marked, with five cleared by the FDA. Its first commercially available device, Speedboat Inject, is used across the globe. It reported 13% y-o-y growth in FY23 sales following Speedboat Inject’s European clearance for upper GI procedures and the launch of Creo’s slimmest electrosurgical device, Speedboat UltraSlim. With MicroBlate and SpydrBlade nearing commercial launch and increased traction with partners Intuitive Surgical and CMR Surgical, we anticipate the product uptake curve to steepen in the medium term.

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 296.8

Research

Update

Healthcare

Creo Medical — Setting the stage for pivotal growth

Flash note

Healthcare

Creo Medical — NHS data validates Speedboat’s economic merit

Healthcare

edison tv

Creo Medical – executive interview with Craig Gulliford, CEO
View All

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