Creo Medical Group PLC UK Distribution Agreement with Diagmed Healthcare (5016T)
July 04 2018 - 2:00AM
UK Regulatory
TIDMCREO
RNS Number : 5016T
Creo Medical Group PLC
04 July 2018
Creo Medical Group plc
UK Framework Distribution Agreement with Diagmed Healthcare
UK Clinical Education Program to be imitated alongside Market
Seeding
Chepstow, Wales - 4 July 2018 - Creo Medical Group plc (AIM:
CREO) ("Creo" or the "Company"), a medical device company focused
on the emerging field of surgical endoscopy, today announces that
is has entered into a framework distribution agreement with Diagmed
Healthcare Limited ("Diagmed").
Under the terms of the agreement, Diagmed will collaborate with
Creo over an 18-month period to seed the UK market with Creo's
CROMA advance energy platform and Speedboat products. The agreement
requires Diagmed to purchase a minimum quantity of CROMA advance
energy platforms and Speedboat products from Creo during the first
18 months. In line with Creo's education led commercial strategy,
Diagmed will also advance the roll out of Creo's Clinical Education
Programme in the UK, to ensure quality control and best patient
outcomes through the education of key clinicians in the use of
Speedboat and the CROMA platform. Once the seeding phase is
complete, it is intended that Diagmed and Creo will enter into a
further agreement where Diagmed will be Creo's sole distributor for
Creo's CROMA advanced energy electrosurgery platform and Creo's
suite of GI devices in the UK, making Diagmed Creo's second
distributor alongside Hoya Group, Pentax Medical.
Diagmed Healthcare is the UK's leading, independently owned
endoscopy and diagnostic equipment specialist with a customer base
extending to 536 medical facilities in the UK. It has developed
strong and long-term relationships with globally renowned KOLs in
world class centres of excellence as part of its clinical training
programme. This will help support Creo's future R&D product
development pipeline and its commercialisation. The UK represents a
significant marketing opportunity for Creo, both within the NHS and
private practitioners.
Creo's CROMA's electrosurgical platform combines bipolar
radiofrequency for precise localised cutting and microwave energy
for controlled coagulation. Speedboat RS2 is the first product
approved in a suite of tools under development to aid the
endoscopist in minimally invasive surgery. The Speedboat device
helps reduce the risks associated with alternative open and
laparoscopic procedures, reducing the length of hospital stays,
cost of treatment and transferring therapy from the operating
theatre to the endoscopy room.
Craig Gulliford, Creo's Chief Executive Officer, commented:
"This agreement is the next significant milestone in the
commercialisation of our lead product, Speedboat RS2. Creo is
dedicated to improving patient outcomes and helping clinicians by
bringing advanced energy to the emerging field of surgical
endoscopy. Speedboat is paving the way for our suite of GI devices
under development which we believe are the next generation of
minimally invasive surgery tools and transformational technology.
Our products are rapidly gaining traction in the endoscopic field
and with Diagmed as our UK partner, their expertise and knowledge
in this important market will prove invaluable to Creo as we build
our reputation worldwide."
Contacts
Creo Medical: Cenkos: FTI Consulting:
Richard Rees Camilla Hume/Mark Connelly Brett Pollard / Mo
+44 (0)129 160 (NOMAD) Noonan
6005 Michael Johnson / Russell +44 (0)203 727 1000
Kerr (Sales) creo@fticonsulting.com
+44 (0)207 397 8900
About Diagmed Healthcare
Diagmed Healthcare is the UK's leading, independently owned
endoscopy and diagnostic equipment specialists. Diagmed Healthcare
strives to provide customer service excellence, with unparalleled
product expertise, assisting customers to deliver health provision,
to the benefit of medical professionals and more importantly -
their patients.
For more information about Diagmed Healthcare please see their
website, http://diagmed.healthcare/.
About Creo Medical
Creo Medical, founded in 2003, is a medical device company
focused on the development and commercialisation of minimally
invasive surgical devices, by bringing advanced energy to
endoscopy. The Company's mission is to improve patient outcomes by
applying microwave and radiowave energy to surgical endoscopy. Creo
has developed CROMA, an electrosurgical platform that combines
bipolar radiofrequency for precise localised cutting and microwave
for controlled coagulation. This technology provides physicians
with flexible, accurate and controlled surgical solutions.
The Company's strategy is to bring its CROMA platform to market
through a suite of medical devices which the Company has designed,
initially for the emerging field of GI therapeutic endoscopy, an
area with high unmet needs. The CROMA platform will be developed
further for bronchoscopy and laparoscopy procedures. The Company
believes its technology can impact the landscape of surgery and
endoscopy by providing safer, less-invasive and more cost-efficient
option of treatment.
For more information about Creo Medical please see our website,
www.creomedical.com.
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END
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