Creo Medical Group PLC (AIM:CREO, OTC:CMEOF) CEO Craig Gulliford talked with Proactive's Stephen Gunnion about the company’s strong first-half results, which showed revenue rising 40% on the back of wider clinical adoption of its core Speedboat technology. Gulliford explained that growth has been driven by sustained use among existing users, alongside new product derivatives that expand indications across the upper and lower GI tract.
He highlighted the recent US clearance of the SpydrBlade device, noting that it is expected to contribute more meaningfully in the second half. Gulliford also discussed the sale of 51% of Creo Medical Europe to Micro-Tech, which delivered £25 million in cash and a profit boost. He said the partnership not only strengthens the balance sheet but also provides opportunities to broaden the product portfolio, improve margins, and expand into the Chinese market.
Gulliford confirmed the company now has 232 active users of its core products, with adoption split evenly between Europe and the US. He noted operating costs fell 24%, and losses narrowed significantly. Looking ahead, he said the company is confident in reaching a self-sustaining cash flow position between 2027 and 2028, supported by cost efficiencies, manufacturing partnerships, and additional cash inflows.
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