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Creo Medical ( (GB:CREO) ) has provided an announcement.
Creo Medical Group plc has successfully completed the sale of 51% of its European subsidiary, Creo Medical S.L.U., to Micro-Tech International B.V. This transaction, valued at an equity equivalent of €72 million, was contingent on receiving various direct investment clearances, all of which have been obtained. The expected €30 million in net proceeds from this sale will be used to strengthen Creo’s balance sheet and support the growth of its core businesses, including Creo and Kamaptive. This strategic move is likely to enhance Creo’s operational objectives and industry positioning by enabling focused investment in its innovative medical technologies.
More about Creo Medical
Creo Medical Group plc is a medical device company specializing in the development and commercialization of minimally invasive electrosurgical devices. These devices are designed to enhance surgical capabilities and patient outcomes using advanced energy technologies, such as the CROMA platform powered by Kamaptive, which integrates multi-modal energy sources for procedures like resection, dissection, coagulation, and ablation. The company’s technology aims to offer safer, less invasive, and more cost-efficient options for surgical and endoscopic procedures.
Average Trading Volume: 718,734
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £78.37M
For detailed information about CREO stock, go to TipRanks’ Stock Analysis page.
