A MEDICAL company which aims to save thousands of lives with new technology has opened its new base in Chepstow, creating 22 new jobs.

Creo Medical’s new headquarters in Beaufort Park, Riverside Court, was officially opened by Welsh Economy Secretary Ken Skates on Monday (October 30). 

The medical device company specialises in the emerging field of surgical endoscopy, which aids minimally invasive surgery by applying microwave and radio wave energy. 

In 2016, it received a £2m investment from the Welsh Government-supported Finance Wales – now the Development Bank of Wales – which helped it to secure a £20m investment, facilitating the creation of the 22 “high-quality, well-paid jobs.”

Creo Medical also received support from the Welsh Government through a £3m equity investment from Finance Wales, which secured the relocation of its head office from Bath to Chepstow and has provided crucial investment to aid the company’s expansion. 

Opening the new HQ, Mr Skates said: “It is a pleasure to be in Chepstow to open the new facility here at Creo Medical. Not only will the new facility enhance Creo’s role as a key player in the life sciences sector both in Wales and internationally, it will also enhance the company’s ability to develop new products to address the ever increasing challenges within the health sector.

“I am proud that both the Welsh Government and the Development Bank of Wales have played their part in supporting Creo’s growth. 

“That support has contributed to the company’s headquarters moving from Bath to Chepstow and has provided a real boost to the local economy, delivering an additional 22 high-quality, well-paid jobs to Chepstow.” 

Craig Gulliford, CEO of Creo Medical, said: “We are delighted to have the Economy Secretary formally open our new facility in Chepstow.

“Our facility has been designed to allow us to expand as we continue to deliver on our milestones. With the continued support of the Welsh Government, the Development Bank of Wales and our other investors, we believe that we have the right platform to allow us to reach our ultimate goal of bringing a suite of innovative, minimally invasive, surgical devices to market, all operating from our ground breaking CROMA electrosurgery platform, with the aim of reducing the costs and risks involved in GI procedures while improving patient outcomes.”

Dr Richard Thompson, from the Development Bank of Wales, said: “We are proud to be a long standing equity investor in Creo Medical. It’s been great to work with such a passionate management team over the last five years.

“Their cutting edge technology and products have the potential to deliver patient benefits and ultimately to save thousands of lives.”