Creo Medical Group PLC Spain & Benelux Framework Distribution Agreements (2608E)
October 17 2018 - 1:00AM
UK Regulatory
TIDMCREO
RNS Number : 2608E
Creo Medical Group PLC
17 October 2018
Creo Medical Group plc
("Creo" or the "Company")
Spain & Benelux Framework Distribution Agreements
Agreements covering Spain, the Netherlands, Belgium and
Luxembourg
First shipment of products to mainland Europe
Creo Medical Group plc (AIM: CREO), a medical device company
focused on the emerging field of surgical endoscopy, announces that
it has entered into two further framework distribution agreements
to provide clinical training and market seeding across the Spanish,
Belgian, Dutch and Luxembourg markets for Creo's CROMA advance
energy platform and Speedboat products, ahead of their full
commercial launch in 2019.
Creo has signed an agreement with Spanish distributor, JJP
Hospitalaria SL covering the Spanish market and an agreement with
Netherlands based distributor Stinnow medical to cover Belgium, the
Netherlands and Luxembourg ("Benelux").
Continuing Creo's education led commercial strategy, both
distributors will collaborate with Creo over an 18-month period to
advance the roll out of Creo's Clinical Education Programme across
Spain and Benelux educating key clinicians in the use of Speedboat
and the CROMA platform with the aim of ensuring quality control and
best patient outcomes. Creo's Clinical Education Programme ensures
that distributor trainers, having been carefully mentored by Creo's
doctors and endoscopy nurses, can deliver training for clinicians
at a consistently high standard. Key clinicians across Spain and
Benelux have already been trained through Creo's Clinical Education
Programme with a view to joining the Company's training faculty and
establishing ongoing training in these markets.
In addition, each distributor will commence seeding their
respective markets with Creo's products, with the ultimate
objective of entering into a formal long-term distribution
agreements once the seeding phase has completed. Both agreements
require the respective distributors to purchase a minimum quantity
of CROMA advance energy platforms and Speedboat products during the
initial period, with the first products already having been shipped
to Benelux.
These agreements follow on from similar agreements covering
Asia-Pacific (APAC) as well as the UK and South Africa.
Creo's CROMA advanced energy platform combines bipolar
radiofrequency for precise localised cutting and microwave energy
for controlled coagulation. Speedboat 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
transfers therapy from the operating theatre to the endoscopy
room.
Craig Gulliford, Chief Executive Officer of Creo, commented:
"Entering mainland Europe is an important milestone for Creo as
we work towards commercialisation of our lead product, Speedboat,
powered by our CROMA advanced energy platform. This will be the
first time Creo has shipped products to these areas which we
believe will be key markets for the Company. The signing of these
agreements is in line with our strategy to grow our distribution
network and reputation both in Europe and worldwide and will
position us well as we strive to advance the emerging field of
surgical endoscopy."
Creo Medical Group plc
Richard Rees (CFO) +44 (0)129 160 6005
Cenkos Securities +44 (0)20 7397 8900
Stephen Keys/Mark Connelly (NOMAD)
Michael Johnson / Russell Kerr (Sales)
Walbrook PR Ltd Tel: +44 (0)20 7933 8780 or creo@walbrookpr.com
Paul McManus Mob: +44 (0)7980 541 893
Helen Cresswell Mob: +44 (0)7841 917 679
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 RF energy to surgical endoscopy. Creo has
developed CROMA, an electrosurgical advanced energy platform that
combines bipolar radiofrequency for precise localised cutting and
microwave for controlled coagulation. This technology provides
clinicians 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 a safer, less-invasive and more
cost-efficient option of treatment.
For more information about Creo Medical please see our website,
investors.creomedical.com
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