Creo Medical to raise £35m for growth plans

Creo Medical Group is raising about £35 million to support further growth of the company, including through potential strategic acquisitions.

The fundraising includes a £30 million placing of shares to new and existing institutional investors and a £5 million open offer which will be available to all qualifying shareholders.

As well as allowing Creo to explore possible acquisitions, the funds will help accelerate the Chepstow-headquartered company’s commercial rollout of its products in the US, EMEA and APAC; develop its products and technology; invest in further clinical trials and R&D.

Creo chief executive Craig Gulliford said: “These additional funds will be used to accelerate the commercial roll-out of our suite of patented electrosurgical devices powered by our CROMA Kamaptive Energy Platform technology, but also provide us with the means to develop this portfolio to allow full integration with some of the leading robotic surgery technologies.

“This also means that we are well funded to continue to explore further strategic acquisition opportunities, continue our research & development progress for new devices and allow us to the undertake the clinical trials necessary to target markets in China and Japan.”