Shares in Creo Medical Group PLC (AIM:CREO), a firm specialising in minimally invasive surgical endoscopy, climbed 4.4% today on the back of news that the Royal Oldham Hospital has swiftly adopted its CROMA and Speedboat Inject technologies.
Cenkos, the corporate broker, was quick to highlight the significance of this development.
According to its recent research note, the rapid uptake of Speedboat at the Royal Oldham "exemplifies the potential of Creo’s technology to deliver positive clinical outcomes to patients while reducing waiting lists for both endoscopy and surgical procedures".
The Royal Oldham's decision in May to become the first NHS institution to embrace these tools across multiple endoscopy rooms set a precedent. Their subsequent treatment of over 40 patients through this service marks the fastest such adoption by any NHS centre to date.
The benefits of this adoption extend beyond patient care. Financially, the implications are notable.
Cenkos points out that each SSD operation using Creo's technology can potentially save the NHS up to £10,000 compared to conventional surgery. This is further complemented by typically shorter hospital stays and a reduced risk of complications.
Several doctors at the Royal Oldham have now completed Creo's Pioneer Programme mentoring phase. This enables them to independently handle routine cases involving intricate, high-risk colon lesions, further showcasing the efficacy and efficiency of Creo's offerings.
With ambitions targeting over 350 NHS hospitals, Creo's Speedboat product line could reshape the landscape of surgical procedures within the NHS. Already, 23 NHS England healthcare centres have incorporated SSD.
Chief executive Craig Gulliford said Oldham served as a "phenomenal model" for what's achievable when institutions recognise the potential of a device and allocate the necessary resources.
The shares, which Cenkos rates 'buy', were changing hands for 34.7p each, up 1.45p.