Creo Medical Group PLC Further health economics data validates technology (8032Z)
May 26 2021 - 1:00AM
UK Regulatory
TIDMCREO
RNS Number : 8032Z
Creo Medical Group PLC
26 May 2021
Creo Medical Group plc
("Creo" the "Company" or the "Group")
Further health economics data validates technology
Savings of over GBP10,000 per procedure using Speedboat Inject instead of traditional surgery
Creo Medical Group plc (AIM: CREO), a medical device company
focused on the emerging field of surgical endoscopy, announces that
data from the paper titled: 'Cost-effectiveness analysis of
Speedboat submucosal dissection in the management of large
non-pedunculated colorectal polyps' demonstrates that the use of
Speedboat Inject is highly likely to be a cost-effective strategy
for treating both benign and malignant large non-pedunculated
colorectal polyps(1) ("LNPCP") and can lead to cost savings in NHS
Hospitals of over GBP10,000 per procedure versus a traditional
surgical outcome for patients, a saving of approximately 50 per
cent. This is double the saving of that which was first suggested
and announced by Creo in June 2020 .
Clinical data confirms that the health economic benefits through
using the Company's CROMA Advanced Energy Platform with Speedboat
Inject provides substantially more cost-savings for the NHS than
originally thought. This prospective database analysis of 50
patients with LNPCP analysed costs that were valued from the NHS
and Personal Social Service. The study concluded that the
substantial cost-savings were driven by reducing downstream costs
associated with recurrences of lesions, combined with
procedure-related complications.
Endoscopists, using traditional techniques to perform a
procedure, would ordinarily see a patient have 30cm of bowel
removed surgically, under general anaesthetic, with the associated
risks and costs of up to five days in hospital. However, using
Creo's Speedboat Inject device enables the removal of
gastrointestinal pre-cancerous lesions under sedation, with
patients generally able to leave hospital on the same day that the
procedure is performed.
Craig Gulliford, Chief Executive Officer of Creo, commented: "We
are extremely pleased to see this health economics data providing
evidence that our Speedboat procedure could save the NHS over
GBP10,000 per procedure. Our passion has always been to improve
patient outcomes, not only through developing innovate medical
devices to bring advanced energy to endoscopy, but to also offer
economic benefits to healthcare providers, in turn allowing their
limited resources to be applied elsewhere; this data demonstrates
that. Following the commercial agreement we signed with the
Department of Health and Social Care in 2020, offering health
service bodies access to our devices at preferential rates, we
continue our efforts to train more surgeons to use our technology,
allowing the patients and NHS to benefit."
(1) - Large non-pedunculated colorectal polyps (LNPCP) - colonic
lesions found inside the large intestine
Creo Medical Group plc investors.creomedical.com
Richard Rees (CFO) +44 (0)1291 606 005
Cenkos Securities +44 (0)20 7397 8900
Stephen Keys / Camilla Hume (NOMAD)
Michael Johnson / Russell Kerr (Sales)
Walbrook PR Ltd Tel: +44 ( 0)20 7933 8780 or creo@walbrookpr.com
Paul McManus / Lianne Cawthorne Mob: +44 (0)7980 541 893 / +44 (0)7515
909 238
About Creo Medical
Creo Medical, founded in 2003, is a medical device company
focused on the development and commercialisation of minimally
invasive surgical devices, 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 delivers
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 Advanced Energy
Platform powered by its full spectrum Kamaptive Technology to
market, enabling 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 Advanced Energy
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. An
overview of the Creo Medical device technology portfolio can be
seen here:
https://www.rns-pdf.londonstockexchange.com/rns/8918P_1-2020-6-14.pdf
For more information about Creo Medical please see our website,
www.creomedical.com
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