14th Jun 2021 14:58
Creo Medical Group PLC - Chepstow, Wales-based medical device company specialising in surgical endoscopy - Buys freehold interest in headquarters and an adjoining site in Chepstow for GBP4.3 million. Expects purchase from the original developer, Fastnet Property Investments Limited, to be completed by early July.
Creo House headquarters has an 18,000 square foot capacity, with the neighbouring site adding a further 16,000 square feet. Notes that this larger space will allow Creo Medical to expand its commercial operations and logistical reach further across Europe.
Say its scope has already been expanded by the acquisition of Navarra, Spain-based Albyn Medical SL in July for EUR25 million and Belgian-based medical devices firm Boucart Medical for EUR4.5 million in November 2020. Additional space will increase manufacturing capacity for several devices due for commercial roll-out. These include the Creo GI gastro-intestinal suite of advanced energy devices, the complimentary Croma Advanced Energy Platform and Speedboat device for use in gastrointestinal therapeutic endoscopy.
Current stock price: 205.00 pence, down 0.5%
Year-to-date change: up 5.7%
By Scarlett Butler; [email protected]
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