Creo Medical Group

Originally advising the client on its admission to AIM in December 2016, Cenkos raised £20m for a proven team that is developing and commercialising a suite of endoscopic, electrosurgical devices.

Although pre-revenue at the time, Cenkos’ sector expertise enabled us to understand the clients’ technology and recognise the opportunities for growth. Accordingly, we identified investors that would partner with Creo and back its management in their mission to bring these devices to market and significantly improve patient outcomes.

As Creo progressed with its strategy, Cenkos supported the client with further fundraisings. The first in August 2018, generated a significantly oversubscribed book of investor demand. This enabled Creo to add a further ten, tier 1 institutional investors to the shareholder base whilst raising an additional £48.5m at a 64.5% premium to the IPO price. This was followed in December 2019 by a £52m placing and open offer, at a 44% premium to the 2018 fundraise, giving Creo the funds to commercialise its products and acquire a distributor to provide a route to market.

Creo is a medical device company developing a suite of endoscopic electrosurgical devices to improve patient outcomes by applying Advanced Energy to the emerging field of surgical endoscopy. Powered by the CROMA platform, the devices deliver bipolar radiofrequency energy for precise localised cutting and focussed high frequency microwave energy for controlled coagulation and ablation.