HOYA Group PENTAX Medical has agreed to invest in Creo Medical Ltd. Financial terms weren’t announced. Creo is a UK-based medical devices maker. In 2014, Creo raised 3.5 million pounds from Finance Wales and the Angel CoFund.
TOKYO–(BUSINESS WIRE)–HOYA Group PENTAX Medical has entered into an agreement to invest in Creo Medical Ltd., a leading electrosurgical energy devices company based in the U.K. The official documents formalizing the agreement were signed on September 10, 2015 — subject to regulatory approvals by the relevant authorities, PENTAX Medical has acquired an interest in Creo Medical Ltd. PENTAX Medical has identified endoscopic therapeutic devices as a priority area in its growth strategy, and equity participation in Creo Medical Ltd. accelerates PENTAX Medical’s expansion of their footprint in the therapeutics segment through a lineup of differentiated products.
Flexible endoscopes have been developed for use in minimally invasive treatment procedures, in combination with therapeutic devices. These scopes are gaining worldwide interest and adoption for their clinical and financial benefits, as well as in the realization of highly advanced surgeries in gastroenterology and other applications.
“We are pleased to be investing in an organization with a proven record of innovation in a business that aligns seamlessly with PENTAX Medical’s cutting-edge flexible endoscopes portfolio. This investment grants us access to an innovative electrosurgical platform and accelerates PENTAX Medical’s strategy of more effectively serving physicians and their patients in a rapidly evolving health care industry by expanding into the vital endoscopic therapy space,” remarks David Woods, Chief Marketing Officer, PENTAX Medical.
Craig Gulliford, CEO, Creo Medical, commented, “We welcome new investor, PENTAX Medical, who has identified endoscopic therapeutic devices as a priority area, and supports our vision to be leaders in electrosurgery. With this investment we are well positioned to complete US regulatory approval, build on our growing intellectual property portfolio and develop commercial traction in key global markets.”
About Creo Medical Ltd.
Creo Medical Ltd., a medical device company, engages in the development of microwave and radio frequency technology systems that are used in the treatment of tissue resection, ablation, and coagulation. Its products include CRoMa, a microwave and bipolar radiofrequency energy system for the treatment of tissue effects. In July 2015, the BVCA (British Private Equity & Venture Capital Association) recognised Creo Medical for the innovation of its electrosurgical platform, with wide reaching potential applications for controlled coagulation. The technology is designed to deliver quicker, safer and more effective results.
Creo Medical Ltd. was founded in 2003 and is based in Chepstow, United Kingdom.
About PENTAX Medical
PENTAX Medical is a division of HOYA Group. Its mission is to improve the standard of patient care and quality of healthcare delivery by providing the best endoscopic products and services with a focus on QUALITY, CLINICALLY RELEVANT INNOVATION, and SIMPLICITY. Through leading edge R&D and manufacturing, PENTAX Medical provides endoscopic imaging devices and solutions to the global medical community. Headquartered in Japan, PENTAX Medical has a worldwide focus and presence with R&D, regional sales, service, and in-country facilities around the globe. For more information, please visit: www.pentaxmedical.com.