Creo Medical Group PLC (AIM:CREO), which is developing cutting-edge technology used in minimally invasive surgery, is 'executing on all fronts', investors were told ahead of the fast-growing med-tech group's annual meeting.
This progress includes the accelerated EU launch of Speedboat UltraSlim, which is now also used in the US, APAC, and Latin America, receiving positive clinician feedback. Funds from the March 2023 equity raise have supported this strategy.
The Pioneer training programme saw a 119% increase in users in 2023. Recent NHS Supply Chain data confirmed net cash savings of £687,000 from 130 Speedboat procedures at one NHS Trust, validating the technology’s impact on healthcare systems and patient outcomes.
Collaboration with NHS Supply Chain is expected to promote Speedboat’s value across the UK.
The statement also highlighted the company’s progress towards becoming a mature, international medtech group.
Creo restated its aim of being cash flow break-even next year supported by disciplined cost control.
Board succession plans were announced last year as Creo added Kevin Crofton and Brent Boucher as non-executive directors, with the former stepping up to become chair effective the start of next month. John Bradshaw, senior independent director, will retire once a replacement is found.