One of Wales’ leading medical devices firms is set to create 85 jobs in the next three years following a six-figure investment from the Welsh Government. Creo Medical has received £708,000 in grant funding from the Cardiff Bay administration’s Economy Future Fund to expand its premises and purchase state of the art manufacturing equipment which in turn will create high-paid jobs.
The Chepstow-based Alternative Investment Market listed firm, which specialises in surgical endoscopy to aid minimally invasive surgery by applying microwave and radio wave energy, plans to build a new research and development (R&D) manufacturing centre on its current site at Beaufort Park Way.
Last month, the firm raised over £33m following two share offerings which will fund its continued global expansion. In January, Proactive research analyst John Savin put a £100m valuation on Creo in a research note on the group but added that Creo could be worth up to between £200-£250m.
