Creo Medical Group
CREO · AIM · Health Care · mcap £48m · 11.2p 2 open situations →
Open · 2
Path to self-sustaining cashflows
Led to Sale of 49% Creo Medical SL stake – Delayed; binding terms now expected Q4 2026Follows from Sale of 49% Creo Medical SL stake – Delayed; binding terms now expected Q4 2026
Since January 2026 Creo has cut costs and raised funds: a £5.5m placing and £2m Development Bank of Wales loan notes completed in May 2026. Interims on 30 September say the CME sale delay creates a material going concern uncertainty. The company is discussing short-term financing with several parties and does not expect an equity fundraise.
- Cash
- £7.4m at 30 June 2026 (31 December 2025: £12.4m) 28 Jul 2026 ↗
- Financing completed
- About £5.5m equity placing; £2.0m convertible loan notes subscribed by Development Bank of Wales 28 Jul 2026 ↗
- Condition
- Sufficient cash view is subject to completion of the CME Stake Disposal 28 Jul 2026 ↗
- Financing done
- £5.5m equity placing and £2.0m convertible loan note from Development Bank of Wales, completed May 2026 30 Sep 2026 ↗
- Going concern
- Material uncertainty because the CME Stake Disposal is delayed 30 Sep 2026 ↗
- Short-term funding
- Discussions with several parties; options not expected to include an equity fundraise 30 Sep 2026 ↗
Next: Short-term financing options; CME binding terms in Q4 2026
- 30 Sep 2026 Going concern uncertainty; seeking short-term financing
- 28 Jul 2026 Placing and CLNs completed; cash £7.4m
- 22 May 2026 Placing completed; admission pending
- 22 May 2026 Placing launched; CLN and CME sale pending
Sale of 49% Creo Medical SL stake
Led to Path to self-sustaining cashflows – Going concern uncertainty; seeking short-term financing
Creo sold 51% of CME in February 2025 and signed a non-binding agreement in May 2026 to sell the remaining 49%. On 28 July completion was expected in Q3-26. The 30 September interims say the sale is taking longer than expected, with only binding terms now expected in Q4 2026. Other potential acquirers are in talks alongside the original purchaser.
- Price
- Indicative EV in line with 31 December 2025 carrying value; cash-free, debt-free (May 2026) 30 Sep 2026 ↗
- Status
- Non-binding heads of terms; binding terms now expected during Q4 2026 (previously completion in Q3-26) 30 Sep 2026 ↗
- Earlier sale
- 51% sold in FY25: £24.7m net cash, £26.2m profit on disposal 30 Sep 2026 ↗
- CME dividend
- £1.6m received post period end
- Buyer
- Original proposed purchaser plus other potential acquirers in talks 30 Sep 2026 ↗
- Timetable
- Company targets completion within three months
Next: Agree binding terms for CME stake sale
- 30 Sep 2026 Delayed; binding terms now expected Q4 2026
- 28 Jul 2026 Completed in Q2 2026
- 22 May 2026 Non-binding agreement; completion targeted within three months
- 22 May 2026 Non-binding agreement; due diligence pending
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Company filings. Not investment advice.