24th July 2020

Creo Medical Group Acquires European Manufacturer

Chepstow-based Creo Medical Group has acquired a European healthcare products manufacturer in a deal which could be worth more than €25m.

Albyn Medical supplies and produces gastroenterology, urology and endoscopy goods has been acquired for an equity value of €24.8m.

This could include an extra €2.7m of performance-related consideration payable over the next two years.

With an almost 40-strong sales and marketing team and a direct presence in Spain, France, Germany and the UK, the acquisition of Albyn Medical “fits with the strategy” set out by Creo at the time of its fundraising last year.

It provides the company with a commercial and distribution platform to accelerate the development of its business in Europe.

Luis Collantes, president of Albyn Medical, said: “Over the last 25 years, we have established a world-class business focussed on the development of a portfolio of third party and own brand medical devices supplying a global client base of partners and distributors.

“Combining this with the exciting new advanced energy devices at the heart of Creo provides an excellent opportunity to continue the work Albyn Medical has undertaken to date and to advance the commercial roll-out of Creo’s complementary product range.”

Craig Gulliford, chief executive of Creo, added: “Albyn Medical is an exceptionally good fit with Creo.

“The enlarged business brings together a wide range of highly complementary GI products, with an opportunity to broaden the portfolio into urology, and provides us with an extensive marketing and sales capability to support our commercial presence in Europe and the roll-out of our innovative range of advanced energy devices.”