CREO MEDICAL GROUP PLC

Company number

10371794

Status

Active

Incorporation

2016-09-12

Last accounts made up

2024-12-31

Account category

GROUP

Primary SIC

32500

Hubs

UK Healthcare

Accounting basis

IFRS

Reporting scope

Consolidated (group)

Auditor

RSM UK Audit LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“Based on the above, the Directors are satisfied that the Group and Company will have sufficient funds to meet their liabilities as they fall due for the going concern period and have therefore prepared the financial statements on a going concern basis.”

Subsidiaries

• Creo Medical Limited · 100% held · England and Wales · Trading
• Creo Medical Innovations Limited · 100% held · England and Wales · Trading
• Creo Medical SLU · 100% held · Singapore · Trading
• Creo Medical S.L.U. · 100% held · Spain · Trading
• Creo Medical SASU · 100% held · France · Trading
• Creo Medical UK Limited · 100% held · England and Wales · Trading
• Creo Medical GmbH · 100% held · Germany · Trading
• Premier Endoscopy Limited · 100% held · England and Wales · Dormant
• Wiest Uropower Limited · 100% held · Germany · Dormant
• Boucart Medical SRL · 100% held · Belgium · Trading
• Aber Electronics Limited · 100% held · England and Wales · Trading

Significant events

• “Total group revenue of £30.7m with £4.0m from continuing operations and £26.7m from discontinued operations, following the sale of Creo Medical Europe. Commercial roll out of Speedboat UltraSlim during a strong overbroad and 74% increase in Creo Core Technology sales to FY24.”
• “Cost reductions of c.£5.0m (annualised basis) on continuing operations made during H2 24 with the full c.£5.0m benefit to be realised in FY25.”
• “£12m before expenses raised through a placing and open offer in October 2024.”
• “Strategic partnership with Micro-Tech (Nanjing) Co. Ltd and sale of 51% of Creo Medical Europe, realising approximately £30m net cash to strengthen balance sheet gross period with a £30m investment asset held on the balance sheet, providing future balance sheet strength.”
• “Remaining 49% stake in Creo Medical Europe to provide cash inflows, going forwards, via an ongoing share of profits.”
• “Board refresh with a new Chairman and additional NEDs, bringing external strength, industry expertise and experience to the team.”
• “Amendment to the collaboration agreement with Intuitive Surgical and controlled market release of MicroBlade Flex, increasing the number of sites able to undertake combined robotic diagnostic and ablation procedures.”
• “Significant progress in roll out of Creo's Core Technology with over 5,000 procedures performed globally to date with Speedboat UltraSlim being used in over 3,500 resection procedures in its first year on the market.”
• “Multiple upper and lower GI procedures performed with Speedboat UltraSlim further enhanced by the launch of Speedboat Notch post period end in April 2025.”
• “NHS Supply Chain case study published setting out significant cash and operational savings from the use of Speedboat Submucosal Dissection ("SSD") procedures.”
• “King's Award for Enterprise received for Creo's Speedboat technology.”
• “World's first robotic-guided microwave ablation of lung tissue in the clinic using a diagnostic procedure performed using MicroBlade Flex.”
• “Launch of SpydrBlade Flex following CE marking during the year.”

Auditor / going-concern / subsidiary information is extracted from the PDF version of the latest annual accounts and is not tagged in iXBRL. About these numbers