Creo Medical is a company that develops innovative electrosurgical devices for minimally invasive surgery, particularly in the field of gastrointestinal endoscopy. One of its key products, Speedboat, is a versatile device that allows doctors to remove or destroy pre-cancerous growths in the digestive tract. This device offers advantages to patients over traditional techniques, leading to more efficient procedures, fewer complications, and faster patient recovery times.
In April, the company released data showing significant cost savings from Speedboat for certain bowel procedures compared to similar surgical alternatives. For example, there was an 87% reduction in the average patient length of stay and a 99% reduction in critical care costs. These cost savings could have a positive impact on healthcare systems.
While Creo is currently loss-making as it invests in its future growth, analysts expect revenue to accelerate in 2024 due to more surgeons being trained to use its devices. The company’s products are beneficial for both hospitals and patients, and it is trading at a reasonable price-to-sales multiple for a growth stock. Overall, Creo Medical has the potential to be a successful investment for long-term investors.