Creo Medical, a medical devices firm based in Chepstow, has successfully raised £5.5 million through a new share issue while also confirming a deal to sell its remaining stake in its European business. The Alternative Investment Market-listed company, which specialises in minimally invasive surgical endoscopy for pre-cancer and cancer patients, issued 36.6 million new ordinary shares to raise gross proceeds of £5.5 million.
CEO Comments on Fundraising
Chief executive Craig Gulliford expressed satisfaction with the investor support, stating: “We are very pleased to have received this strong support from investors for our business and strategy. The placing, alongside the other strategic funding initiatives we announced this morning, strengthens the group’s balance sheet and positions Creo to capitalise on the strong recent commercial and strategic momentum across our business.” He added that the company is seeing strong growth for its products and believes there is a substantial opportunity as it expands commercialisation and integrates its advanced energy technology into surgical platforms and robotics.
Sale of European Venture Stake
Having sold a 51% stake in its European venture, Creo Medical Europe (CME), last year for £26 million, Creo has now entered into a non-binding agreement to sell its remaining 49% interest to a firm owned by CME’s chief executive, Luis Collantes. Mr Gulliford commented: “This proposed transaction represents an opportunity to crystallise value from our minority interest in CME at an attractive valuation. It supports our strategic priority of simplifying the group and strengthening the balance sheet, while enabling continued investment in our product range, commercial expansion and other commercialisation opportunities with our technology platform.”
Financial Results and Outlook
Creo has also published its latest financial results, showing revenue increased by 50% to £6 million in 2025, compared to £4 million in 2024. Underlying operating losses reduced by 38.5% to £13.7 million, as revenues increased against a significantly lower cost base. Mr Gulliford noted: “We exited 2025 with strong operational and commercial momentum, driven by the validation of our core product range, progress across our pipeline of new devices and increasing clinical adoption. Our advanced energy technology continues to demonstrate increasing clinical and commercial traction, with clear differentiation both as a standalone solution and as an integrated platform across a widening range of surgical environments. With continued positive trading to date in 2026, we remain confident in the group’s prospects. Creo Medical is well positioned to accelerate adoption, expand its market presence and deliver sustainable growth and long-term shareholder value.”
Manufacturing and Broker Notes
The firm’s manufacturing functions were recently acquired in a management buyout deal. In a broker’s note, Shore Capital said of Creo: “Its trading momentum in the year to date has enabled the company to edge up its 2026 financial year revenue guidance to plus 50-60% (from plus 40-60%). With additional US reimbursement secured and a broader suite of products expected to launch in the near term, we see growth continuing to accelerate in 2027 and believe the framework exists for Creo to grow to a place of self-sufficiency and reach breakeven in 2028. We update our model, retaining our future value at 40p per share.”
