Creo Medical nets distribution agreement for 'key' European markets

Creo Medical on Monday entered into a framework distribution agreement with Pentax Europe to provide clinical training and market seeding across the French, German, and Italian markets.

The 18-month collaboration between the two companies will see the education of clinicians across these nations in the use of Creo Medical's Speedboat product and Croma platform with the aim of ensuring quality control and best patient outcomes.

Meanwhile, Pentax will focus on seeding markets with Creo's products, with the ultimate objective of entering into a formal long-term distribution agreement once the seeding phase has completed.

Creo Medical has already signed distribution agreements with Pentax that cover Asia-Pacific, as well as recently announced agreements covering Spain, the Netherlands, Belgium and Luxembourg.

Craig Gulliford, chief executive of Creo, said: "Entering mainland Europe was an important milestone for Creo, but a commercialisation strategy that encompasses the major healthcare markets of France and Germany is key for the successful European roll-out of our lead product, Speedboat, powered by our Croma advanced energy platform. This further agreement reinforces our strategy of growing our distribution network and reputation both in Europe and worldwide."

The Croma platform combines bipolar radiofrequency for precise localised cutting and microwave energy for controlled coagulation, while Speedboat helps reduce the risks associated with alternative open and laparoscopic procedures, reducing the length of hospital stays, cost of treatment and transfers therapy from the operating theatre to the endoscopy room.

Creo Medical's shares were up 2.62% at 235.00p at 0912 GMT.