Creo Medical

What Creo Medical does

Creo Medical Group plc is a UK-headquartered medical device company that designs, develops, and commercialises advanced energy devices for therapeutic endoscopy. The company is incorporated in England and Wales (company number 10371794), headquartered in Chepstow, Wales, and has been listed on the AIM market of the London Stock Exchange (ticker: CREO) since December 2016. The company serves hospitals, NHS trusts, and interventional endoscopy centres of excellence across three medical specialities: Gastroenterology (its core focus), Urology, and Pulmonology, with operational footprints in the UK, US, and Singapore. Management is led by founder-CEO Craig Gulliford, with a board including Chair Kevin Crofton (ex-SPTS/Orbotech/KLA-Tencor) and NED Brent Boucher (ex-Covidien/Medtronic/Solventum).

The company's core technology, Kamaptive Technology, combines super high frequency microwave energy (5.8 GHz) and advanced bipolar radiofrequency energy delivered through a single accessory port via the CROMA Advanced Energy Platform. This platform powers a suite of Kamaptive-enabled single-use devices — Speedboat Inject, Speedboat UltraSlim, Speedboat Notch, SpydrBlade Flex, MicroBlate Fine, and MicroBlate Flex — designed for procedures including Endoscopic Submucosal Dissection (ESD), Per-Oral Endoscopic Myotomy (POEM), Zenker's, EUS-guided microwave ablation of pancreatic and liver lesions, and robotically-guided lung tumour ablation (in collaboration with Intuitive Surgical's Ion system). Adjacent product lines include the H-SteriScope single-use bronchoscope (Pulmonology diagnostics) and the Hermes Integrated Urodynamic System (Urology diagnostics). The IP portfolio comprised 189 granted patents and 114 pending applications as of 30 June 2025, and all six CROMA products are CE marked with the full GI suite now FDA cleared (SpydrBlade Flex clearance in May 2025 completed the set).

The business operates on a razor-blade revenue model: capital equipment sales of CROMA generators drive installed base, with recurring revenue from single-use device consumption across the device portfolio. Go-to-market is sales-led, anchored by a direct US field sales force targeting leading interventional endoscopy centres, KOL advocacy via the Pioneer Clinical Education Programme (with Pioneer Online Community at creopioneers.com), and channel partnerships for international markets (Micro-Tech for key European jurisdictions following the October 2024 acquisition of 51% of Creo Medical S.L., and a new Scandinavian distribution partner from January 2026). Reported revenue for the year ending December 2025 was £6m (up 50% YoY) with an underlying operating loss of £13.7m; Q1 2026 revenue was 60% ahead year-on-year and management has narrowed 2026 growth guidance to 50-60%, with prior investor commentary referencing a path to £100m revenue by 2027. Capital structure was reinforced by a £28.5m placing in 2023, a £2m Development Bank of Wales loan note, and a £5.5m placing in May 2026 at a 31.9% premium (with three directors subscribing £2.15m). Operational restructuring includes the April 2026 MBO of UK manufacturing operations to NewCo (expected to reduce annual operating costs by more than £1m) and an agreement to sell the remaining 49% of Creo Medical S.L. at book value.

Name

Creo Medical

Legal name

Creo Medical Group plc

Website

https://creomedical.com

Company type

Public

Founded year

2012

Operating status

Operating

Headcount range

101–250 employees

Short description

Creo Medical is a UK medical device company that develops advanced energy endoscopic devices combining microwave and bipolar RF energy, serving gastroenterology, pulmonology, and urology specialists in hospitals worldwide.

Ownership category

akta.pro rank

Product category

Therapeutic Endoscopy Medical Devices

NAICS

Electromedical and Electrotherapeutic Apparatus Manufacturing (334510), Navigational, Measuring, Electromedical, and Control Instruments Manufacturing (3345)

SIC

Surgical & Medical Instruments & Apparatus (3841), Electromedical & Electrotherapeutic Apparatus (3845)

akta.pro primary industry

Energy-Based Surgical Devices (Electrosurgery, RF, Ultrasonic, Laser) (HLAHADAC)

Keywords

• Advanced energy endoscopy
• Electrosurgical medical devices
• Therapeutic endoscopy systems
• Endoscopic submucosal dissection
• Microwave ablation devices

Headquarters

HQ city

Chepstow

HQ country

United Kingdom

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Supply Chain

Revenue model

1. Medical Device Sales (Capital Equipment and Consumables): Creo Medical generates revenue from the sale of its CROMA Advanced Energy Platform (capital equipment/generators) and associated single-use advanced energy devices (Speedboat Inject, Speedboat UltraSlim, Speedboat Notch, SpydrBlade Flex, MicroBlate Fine, MicroBlate Flex). The company also sells diagnostic and therapeutic endoscopy products for Gastroenterology, Urology, and Pulmonology.
2. European Subsidiary Divestment: The company has been divesting stakes in its European subsidiaryCreo Medical S.L., having sold 51% to Micro-Tech in October 2024 and entering into an agreement in 2026 to sell its remaining 49% stake to Luis Collantes (CEO of the subsidiary).
3. Razor-Blade Model (CROMA Platform + Single-Use Devices): Scalable business model designed on razor-blade mode with a suite of single-use devices that deliver superior outcomes, driving recurring revenue through generator utilisation and device consumption.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Creo Medical develops, manufactures and commercialises advanced energy medical devices for therapeutic endoscopy, headlined by the CROMA Advanced Energy Platform powered by proprietary Kamaptive Technology. The platform combines super high frequency microwave (5.8 GHz) and advanced bipolar radiofrequency energy in a single system that powers a suite of single-use Kamaptive-enabled devices (Speedboat Inject, Speedboat UltraSlim, Speedboat Notch, SpydrBlade Flex, MicroBlate Fine, MicroBlate Flex) used by gastroenterologists, pulmonologists and urologists to perform minimally invasive cutting, coagulation and ablation procedures. The company also markets complementary diagnostic endoscopy products including the H-SteriScope single-use bronchoscope and the Hermes Integrated Urodynamic System.

Product overview

Creo Medical is a medical device company specializing in advanced energy solutions for therapeutic endoscopy. The core offering is the CROMA Advanced Energy Platform powered by Kamaptive Technology, which delivers combined advanced bipolar radiofrequency and super high frequency microwave energy through a single system. The platform supports a suite of Kamaptive-enabled devices including Speedboat Inject, Speedboat UltraSlim, Speedboat Notch, SpydrBlade Flex, MicroBlate Fine, and MicroBlate Flex for various endoscopic procedures in gastroenterology, pulmonology, and urology. Additional product lines include the H-SteriScope single-use bronchoscope for pulmonology diagnostics and the Hermes Integrated Urodynamic System for urology diagnostics.

Differentiator

Problem solved

Functional benefit

Brands

• Kamaptive Technology: Proprietary intelligent energy technology combining super high frequency microwave and advanced bipolar radiofrequency energy
• CROMA Advanced Energy Platform
• Pioneer Programme
• Speedboat
• SpydrBlade Flex
• MicroBlate Fine
• Hermes
• H-SteriScope

Products and services

• CROMA Advanced Energy Platform

Quantifiable outcome

• £10,000 savings per NHS procedure
• +5 more outcomes

Named customers10 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Eight partnerships are on record, tiered supporting and core.

• Scandinavian Distribution PartnersupportingChannel Partner/ Reseller/ Distributor · 1 January 2026New partnership announced January 2026 bringing Creo Medical's CROMA-powered GI devices to Scandinavia through a regional distribution partner.
• Micro-TechcoreChannel Partner/ Reseller/ Distributor · 1 October 2024Micro-Tech acquired 51% of Creo Medical S.L. in October 2024. This followed Osborne Clarke's prior work advising on the divestment. The subsidiary serves as a distributor in key European jurisdictions.
• Intuitive SurgicalcoreStrategic or Co-development PartnerCollaboration with Intuitive Surgical, a robotics leader, on surgical robotics integration. Uses MicroBlate Flex together with Intuitive's Ion robotic system for robotically guided lung tumour ablation. Multiple catalysts anticipated in next 12-18 months including advancement of this collaboration. Part of Creo Medical's strategy to position at forefront of minimally invasive treatment.
• Banner HealthcoreStrategic or Co-development PartnerBanner Health acts as principal investigative site for international investigator-led study of MicroBlate Fine targeting pancreatic and liver lesions, with first patient treated in March 2026. Study spans US, Europe and Asia-Pacific.
• Amsterdam University Medical CentrecoreStrategic or Co-development PartnerParticipating centre in the 'ablate and resect' clinical study of MicroBlate Flex for lung tumours, in collaboration with Intuitive Surgical's Ion robotic system.
• Royal Brompton Hospital (London)coreStrategic or Co-development PartnerParticipating centre in the European lung tumour clinical study of MicroBlate Flex, working with Royal Brompton Hospital in London as a leading cardiothoracic centre.
• West Virginia UniversitysupportingStrategic or Co-development PartnerDr Shailendra Singh at West Virginia University performed the first EUS-guided microwave ablation of a pancreatic lesion using MicroBlate Fine in the USA, highlighting early US clinical adoption.
• Osborne Clarke LLPsupportingImplementation/ SI/ Consulting PartnerLegal advisors (Osborne Clarke) advised on multiple fundraises and the divestment of stakes in Creo Medical S.L., including the October 2024 sale of 51% to Micro-Tech and the planned sale of remaining 49%.

Scale indicators12 records

Recent moves7 records

Expansion highlights7 records

Broad incumbents

• Boston Scientific: Boston Scientific is a global medical device leader with a significant endoscopy and GI intervention portfolio (including hemostasis, ESD, and resection tools). It is comparable to Creo Medical as a broad incumbent in therapeutic endoscopy that overlaps with Creo's Speedboat and SpydrBlade devices across GI and pancreatic/lung ablation adjacencies.
• Olympus: Olympus is the global leader in flexible endoscopy systems and therapeutic GI accessories. It is directly comparable to Creo's CROMA-enabled therapeutic endoscopy devices, which are designed to work through Olympus and other standard flexible endoscopes, and competes in the same hospital endoscopy suites.
• Medtronic: Medtronic operates in GI and endoscopic interventions (including its legacy Covidien electrosurgery and GI franchises). It is comparable to Creo Medical as a broad incumbent with overlapping electrosurgical and endoscopic capabilities and far deeper hospital commercial reach.
• Pentax Medical (Hoya): Pentax Medical (Hoya) is a major flexible endoscopy systems and GI accessories manufacturer. It is a prior investor and a comparable broad incumbent in therapeutic endoscopy whose installed base of endoscopes is compatible with Creo's Kamaptive-enabled devices.
• Cook Medical: Cook Medical is a privately held medical device company with a large GI endoscopy and interventional accessories portfolio. It is comparable to Creo Medical as a broad incumbent in therapeutic GI endoscopy, with overlapping procedural categories such as ESD, EMR, and stenting.

Direct peers

• Erbe Elektromedizin: Erbe is a German specialist in electrosurgery and advanced energy platforms for endoscopy and surgery (e.g., VIO, APC). It is one of the closest direct peers to Creo's CROMA platform, competing head-to-head in advanced bipolar/RF/microwave energy delivery for therapeutic endoscopy.
• CONMED: CONMED is a medical device company with a strong electrosurgery and advanced energy franchise used in laparoscopic and endoscopic procedures. It is a direct peer to Creo's CROMA platform in advanced bipolar/RF energy for minimally invasive surgery and endoscopy.
• AngioDynamics: AngioDynamics is a medical device company focused on oncology interventions, vascular access and ablation. Brent Boucher (Creo NED) held executive roles at AngioDynamics. It is comparable to Creo's MicroBlate Fine/Flex ablation devices in the tumor ablation and interventional oncology category.

Emerging players

• Intuitive Surgical: Intuitive Surgical is the partner of Creo Medical, integrating MicroBlate Flex with the Ion robotic system for lung tumour ablation. It is comparable as a robotic surgery and minimally invasive platform partner that drives adoption of Creo's ablation technology in robotically guided indications.
• Micro-Tech (Nanjing Micro-Tech): Micro-Tech is a Chinese medical device company that acquired 51% of Creo Medical S.L. in October 2024 and now serves as a European distributor. It is comparable as a fast-growing emerging player in GI endoscopy accessories that overlaps directly with Creo's Speedboat and SpydrBlade product lines in Europe.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks3 records

Key highlights7 records

Customer concentration

• Xx.com/CreoMedical
• Facebookfacebook.com/175345035899934
• LinkedInlinkedin.com/company/creo-medical-ltd-

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

Funding overview

Funding rounds7 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Creo Medical