4th November 2020

Creo Expands With Continental Acquisition

Creo Medical Group has expanded with the acquisition of a supplier of gastrointestinal (GI) endoscopy consumables in Belgium and Luxembourg in a deal worth up to €5m.

Boucart Medical, founded in 1991, is a well-established supplier of medical devices for the GI market, distributing third-party products to hospitals across Belgium and Luxembourg for 30 suppliers.

The business distributes a range of GI products similar to that distributed by Albyn Medical, which was acquired by Creo in July this year, and has a particular focus on introducing innovative devices to its hospital network.

Creo is paying an initial €4.5m in cash plus up to €500,000 of performance-related consideration payable in cash over the next two years.

Following the acquisition of Boucart Medical, the Company now has a direct sales presence in the key markets of Spain, France, Germany, the UK, the USA, Belgium and Luxembourg providing Creo with a strong commercial platform to facilitate the roll-out of its full suite of CE marked GI advanced energy devices.

Boucart Medical is being acquired by Creo’s subsidiary Albyn Medical.

Creo chief executive Craig Gulliford said: “This latest acquisition is an important addition to the commercial and distribution platform established through the Albyn Medical acquisition in July and will accelerate the development of our business in Europe. Albyn and Boucart combined provides us with an extensive European marketing and sales capability to support the roll-out of our full suite of CE marked GI advanced energy devices.”

Luis Collantes, Albyn Medical president, added: “Boucart Medical is a natural fit with the Albyn Medical offering and neatly complements our established European footprint. Their business, like ours, is focussed around a sales driven culture with an experienced team in the sector who have built up a loyal network of customers. This is an excellent entry point into the Belgium and Luxembourg markets for the wider range of innovative products we have across the enlarged group.”

Creo has also secured US Food & Drug Administration for its MicroBlate Fine tissue ablation device.

The medical device company  said it was the third device to gain FDA regulatory clearance within Creo’s portfolio of flexible endoscopy devices for the gastrointestinal market alongside SlypSeal Flex and Speedboat Inject.

Craig Gulliford said: “We are delighted to receive FDA clearance for our MicroBlate Fine device and we continue to work hard, despite the impact of the Covid-19 pandemic, to continue our program of regulatory clearances for our expanding suite of advanced energy surgery products for the flexible endoscopy market.”