International legal practice Osborne Clarke has advised Creo Medical Group plc (the Company), a medical device company focused on the emerging field of surgical endoscopy, on a placing to raise up to £48.5 million before expenses.
The net proceeds of the placing received by the Company will be used primarily for the following purposes:
- to extend the Company’s Clinical Education Program both by the Company and in conjunction with select distribution partners globally;
- increase the number of distribution agreements with third parties and partners worldwide;
- accelerate the roll out of its products;
- extend the Company’s existing manufacturing capability to support the extension of the Clinical Education Program and product roll out;
- increase product line / range;
- accelerate US roll out by seeking to establish a presence in the United States;
- strengthen the Company’s balance sheet to support distribution and strategic partnerships; and
- to facilitate the exploration of potential strategic M&A.
The Osborne Clarke team that advised on the transaction was led by Corporate Partner Mark Wesker who was assisted by Associate Oliver Gingell.
Osborne Clarke’s corporate team is considered the go-to practice for many businesses in the life sciences and healthcare sector, working with leading global businesses, fast-growth start-ups and market challengers. The team advises at every stage of company development across all corporate areas, from equity and debt fundraising to M&A, IPOs and JVs.