Creo Medical Group - Acquisition of Albyn Medical S.L.
("Creo" or the "Company")
Supplier of specialist healthcare products adds European commercial platform to Creo
Synergistic acquisition that provides immediate market access
With a sales and marketing team of nearly 40 people and a direct presence in
· Albyn Medical sells its own and third-party consumables and systems with 90% of revenues derived from GI endoscopy products
· Albyn Medical is a respected name in GI endoscopy and Urology with commercial relationships with doctors and hospitals across key European territories
· The acquisition adds a highly complementary product range, expanding the GI product suite and providing an opportunity to broaden into Urology
· Following the recent expansion of the Creo team and in combination with Albyn Medical's sales and marketing footprint, the enlarged business will have a 175 strong team, with direct operations in five countries
· Acquisition combines deep global intellectual property, innovation, engineering and a pioneering product range from Creo, with an extensive sales, service, logistics, production and export capability of Albyn Medical
Transaction highlights & Financials
· Fixed equity value of
· As part of the transaction, Albyn Medical will retain
· Albyn Medical reported PBT of
· As a well-established and stable business, Albyn Medical has remained profitable on a monthly basis during the current pandemic
· Albyn Medical President,
· Cash position of the enlarged Creo group following acquisition of
· The acquisition is considered to be a substantial transaction, pursuant to AIM Rule 12
About Albyn Medical (www.albynmedical.com)
Albyn Medical was established in 1985 in
Albyn Medical's product range covers diagnostic, therapeutic and hygiene / cross-contamination control to customers including hospitals, hospital groups and doctors' offices across both state and private sectors. Its own brand of GI products includes a range of biopsy forceps, snares, catheters, tubes and valves, as well as distributing a wide range of diagnostic and therapeutic endoscopy devices. Albyn Medical also has a range of endoscope cleaning, sterilisation, and storage products, as well as endoscopic accessories for hospitals. GI products account for 90% of Albyn Medical's sales, with 10% of revenues derived from its own developed urology products and partner urology sales.
Over the last 18 years,
Creo's suite of CE-marked advanced energy devices are optimised to utilise Bipolar radiofrequency (RF) and
1. Speedboat™ device technology - Range of unique bipolar RF blades with integrated MW coagulation, the first device technology launched by Creo.
2. SpydrBlade™ device technology - Tissue resection devices combining Speedboat resection capability with precise microwave coagulation - the only bipolar RF resection structure of which the Company is aware.
3. MicroBlate™ device technology - Tissue ablation devices including MicroBlate™ Fine and MicroBlate™ Flex - the smallest microwave ablation devices of which the Company is aware.
4. SlypSeal™ device technology - Range of haemostasis devices leveraging Creo's unique "Non-stick" haemostasis technology - the only non-stick advanced energy haemostasis technology of which the Company is aware.
Creo expects to introduce the devices into clinical practice and for commercialisation across
This announcement contains inside information.
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The Company's strategy is to bring its CROMA Advanced Energy Platform powered by its unique full spectrum kamaptive technology to market, enabling a suite of medical devices which the Company has designed, initially for the emerging field of GI therapeutic endoscopy, an area with high unmet needs. The CROMA Advanced Energy platform will be developed further for bronchoscopy and laparoscopy procedures. The Company believes its technology can impact the landscape of surgery and endoscopy by providing a safer, less-invasive and more cost-efficient option of treatment. An overview of the
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Quick facts: Creo Medical Group PLC
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