16th June 2021

Creo Medical Group Strikes Deal To Expand HQ

Creo Medical Group has exchanged contracts to acquire the freehold interest in its Chepstow headquarters and an adjacent site.

The medical device company, which is focused on surgical endoscopy, has struck the £4.25m deal to support commercial roll-out. It is expected to complete in July 2021.

Creo House has current total capacity of approximately 18,000 sq ft and the adjacent site, subject to receiving planning permission, will provide an additional 16,000 sq ft of space.

The freehold will be acquired from Fastnet Property Investments Ltd, the original developer of the site.

The expansion will support Creo’s commercial, operational and logistic footprint across Europe and follows the acquisition of Albyn Medical in July and Boucart Medical in November 2020. It will also provide additional manufacturing capacity for the commercial roll-out of the full range of products from the Creo GI (gastro-intestinal) suite of advanced energy devices.

Craig Gulliford, chief executive of Creo, said: “We are delighted to have secured the freehold of Creo House as well as the adjacent site which, subject to planning permission, will provide increased capacity to support our commercial, operational and logistic footprint across Europe; as well as providing additional manufacturing capacity for the commercial roll-out of the full suite of advanced energy devices.

“By acquiring these  sites, we are not only showing a firm commitment to Wales, but we are also giving our workforce even greater stability.  The expansion is reflective of the rapid growth within Creo.”