Creavo Medical Technologies Ltd (Creavo), the medical device company developing innovative diagnostics techniques, has announced that it has appointed Martin Frost as Chairman of the Board of Directors. In this role, Martin will drive Creavo’s fundraising plans, and guide its strategy to scale the business and commercialise its diagnostic technologies.
Creavo has designed and built a platform device to map and analyse the magnetic fields of the heart. Based on this platform, the Company is developing Corsens, a medical device intended to be used by non-specialist staff to scan patients through clothing, at the point of admission to emergency departments. The non-invasive product has been designed to improve speed and accuracy in the ruling out of potentially life-threatening heart problems, to reduce patient anxiety and save hospitals valuable time and resource.
With over 20 years of industry experience, Martin co-founded CMR Surgical in 2014. As CEO of CMR he was recognised as ‘UK Disruptor of the year’ in the 2019 Entrepreneur of the Year awards, and ‘Executive of the Year’ at the 2019 MedTech Insight awards, recognising his success in taking CMR from inception to global commercialisation with its surgical robot, Versius. To scale CMR, Martin raised over £250m, a record for any private European medical devices business. Previously Martin has held several C-suite positions including CEO and CFO of Sagentia, the leading technology development company based in Cambridge, which he listed on the London Stock Exchange. Martin qualified as a Chartered Management Accountant, graduated from Cambridge University, and is Chair of the Peek Vision Foundation.
Martin succeeds Robert Barr who has championed the technology with Creavo founder, Professor Ben Varcoe, since 2009 and has chaired the Board from company inception in 2014. Robert helped to successfully spin out Creavo from the University of Leeds through proof of concept studies to a point where the technology can be deployed into hospital trials.
Martin Frost, Chairman of the Board at Creavo, commented: “I believe that the technology developed by the team at Creavo has the potential to make a substantial difference in emergency medicine, which is an area of urgent unmet clinical need. Creavo has every opportunity to become a significant UK medical devices company and I look forward to working with Steve and the Board on that journey.”
Steve Parker, Creavo Medical Technologies’ Chief Executive Officer, said: “I am delighted to welcome Martin to Creavo, particularly at a point where we are rapidly progressing towards commercialisation. His considerable experience in successfully growing medical device businesses will make a significant difference and add value to the company and for our shareholders. I would like to thank Robert for his commitment to Creavo and his guidance and support, which has enabled us to get where we are today.”