News

16th June 2020
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Positive NHS health economics data: Savings of nearly £5,000 per procedure using Speedboat

Creo Medical Group plc (AIM: CREO), the medical device company focused on the emerging field of surgical endoscopy, announces that initial data from the UK’s leading user of the Company’s Speedboat device demonstrates that the use of Speedboat can save NHS hospitals nearly £5,000 per procedure versus a traditional surgical outcome for patients. Health economic data analysed from a cohort of UK patient cases is estimated to have saved in excess of £400,000 of NHS funding in just one hospital.

The data demonstrates the health economic benefits for using the Company’s CROMA Advanced Energy Platform with Speedboat, the first of Creo’s suite of advanced energy devices designed for use in flexible endoscopy. Speedboat’s advanced surgical procedures use endoscopy to remove gastrointestinal pre-cancerous lesions under sedation rather than a surgical outcome requiring general anaesthetic, hospital stay and a possible loss of organ function for the patient. The data validates both the intuitive savings one would expect as well as validating the analysis when Speedboat development first began.

The full data is expected to be published in October 2020 and the overall costs savings could be higher when the additional follow up costs associated with surgery is factored in. A further announcement will be made once the data is published in full.

Craig Gulliford, Chief Executive Officer of Creo, commented:

“We are pleased that the initial positive NHS health economics data further supports and validates the adoption of Speedboat procedures against the current standard of care, with the savings demonstrated being greater than were originally anticipated in our original i4i funding applications. The roll-out of our technology throughout the NHS, supported by our recently announced commercialisation agreement with the Department for Health, will empower endoscopists and surgeons to change the way they operate, bring significant benefits to their patients and releases funding for trusts to be deployed elsewhere.”