Creo Medical Group - AGM Statement
Creo Medical Group plc
("Creo", the "Company" or the "Group")
AGM Statement
Creo Medical Group plc (AIM: CREO), the medical device company focused on the emerging field of minimally invasive surgical endoscopy for pre-cancer and cancer patients, provides an update to shareholders ahead of its Annual General Meeting ("AGM") being held today at the offices of Osborne Clarke LLP at Halo, Counterslip, Bristol BS1 6AJ.
Addressing shareholders,
"As previously reported, the FY25 growth momentum has continued into FY26 with strong trading performance in the first three months of the current financial year. Year-on-year revenue growth (Q1 FY26 vs Q1 FY25) was approximately 60%, at the higher end of management's expectations, reflecting continued customer adoption, growing procedural volumes and further conversion of the Group's commercial pipeline into revenue across our key markets. As set out in our FY25 Results, this strong performance underpins the Board's confidence in the ongoing growth of the business and we believe that full year FY26 revenue growth will be between 50% and 60% compared to FY25 (previous guidance was between 40% and 60% growth).
"Recent clinical and commercial updates have also demonstrated the breadth of opportunity across our core range of products. Since April, the Group has announced further evidence of adoption and engagement, including: Speedboat, the first use of Speedboat in a
"Alongside this commercial progress, we remain focussed on improving the operational efficiency and financial discipline of the business. On
"Given the scale of the near-term growth opportunity, we have also taken steps to strengthen the Group's balance sheet and support the next phase of commercial execution. The recently completed placing raised gross proceeds of
"The proceeds will support inventory, customer roll-out and commercial expansion at a point of accelerating demand. Together with the expected benefits of the manufacturing outsourcing and the proposed sale of our remaining 49% interest in Creo Medical Europe, subject to completion, we believe these actions provide the Group with sufficient cash resources to fund its development towards to sustainable cash flow generation and profitability.
"Creo enters the remainder of 2026 with strong commercial momentum, strengthened foundations and a more focussed operating model. On behalf of the Board, I thank our shareholders for their continued support as we continue to execute against our strategy and build long term value."
For further information please contact:
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Creo Medical Group plc |
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Via Walbrook PR |
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Shore Capital (Nominated Adviser and Corporate Broker) |
+44 (0)20 7408 4090 |
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Walbrook PR Ltd |
Tel: +44 (0)20 7933 8780 or creo@walbrookpr.com |
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Mob: +44 (0)7980 541 893 / +44 (0)7407 804 654 |
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About Creo Medical
Creo 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
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