REG - Adv Medical Solutns. - Full Year Trading Update

Advanced Medical SolutionsAnnouncement

10/01/2024 07:00

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RNS Number : 1554Z  Advanced Medical Solutions Grp PLC  10 January 2024

10 January 2024

 

Advanced Medical Solutions Group plc

("AMS" or the "Group")

 

 

Full Year 2023 Trading Update

In line with expectations for FY 2023 and poised for strong growth in 2024

 

Winsford, UK: Advanced Medical Solutions Group plc (AIM: AMS), the
world-leading specialist in tissue-healing technologies, today announces its
unaudited trading update for the year ended 31 December 2023 (the "Period").
The Group expects to announce its preliminary results on Wednesday 13 March
2024.

 

The Group is pleased to report Full Year 2023 results are expected to finish
towards the middle of its published guidance ranges of £124-127 million for
revenue and £25-27 million for adjusted profit before tax.

 

Furthermore, following the successful completion of a number of key strategic
marketing initiatives and product launches during 2023 across the Group, AMS
is primed to generate strong double-digit growth in 2024. Key progress
includes:

 

·      Re-vitalised US LiquiBand(®) distribution strategy - With all
three US hospital distribution agreements in place since October 2023, the
Group is pleased to report that the new strategy is having a positive impact
on order intake. The new contracts are driving growth in both the $200 million
small-wound market and the new, fast-growing $70 million long-wound market in
which the pipeline of evaluations and conversions for LiquiBand(®) XL
continues to increase rapidly and therefore the Board is confident of
achieving record US LiquiBand(®) revenues in 2024.

·      US launch of LiquiBandFix8(®)/LiquiFix(TM) - The US roll-out of
LiquiBandFix8(®)/LiquiFix(TM) is progressing well. AMS's new commercial
partner TELA Bio has completed an extensive training programme among its
specialist hernia sales force and we are excited by the progress being made
across a number of significant GPO systems in the US. Full in-market launch is
forecast for late Q1 2024.

Chris Meredith, Chief Executive Officer of AMS, commented: "I am delighted
with the strategic progress we have made across the Group in 2023, creating
significant new opportunities for AMS. The completion of the new US
LiquiBand(®) route to market strategy, the US Connexicon acquisition and the
roll-out of LiquiBand(®) XL will support the delivery of record US
LiquiBand(®) revenues in 2024 and sets us up strongly to deliver our target
of doubling our market share over the next five years. With the US launch of
LiquiFix(TM) progressing well and continued growth being generated from more
established brands such as RESORBA(®) and ActivHeal(®), we are confident
that the Group will generate strong and sustainable growth in 2024 and in the
long term."

 

- End -

 

 

For further information, please contact:

 

 Advanced Medical Solutions Group plc            Tel: +44 (0) 1606 545508
 Chris Meredith, Chief Executive Officer

 Eddie Johnson, Chief Financial Officer

 Michael King, Investor Relations

 ICR Consilium                                   Tel: +44 (0) 20 3709 5700
 Matthew Neal / Lucy Featherstone

 Investec Bank PLC (NOMAD & Broker)              Tel: +44 (0) 20 7597 5970
 Gary Clarence / David Anderson

 HSBC Bank PLC (Broker)                          Tel: +44 (0) 20 7991 8888
 Sam McLennan / Joe Weaving / Stephanie Cornish

About Advanced Medical Solutions Group plc

 

AMS is a world-leading independent developer and manufacturer of innovative
tissue-healing technology, focused on quality outcomes for patients and value
for payers. AMS has a wide range of surgical products including tissue
adhesives, sutures, haemostats, internal fixation devices and internal
sealants, which it markets under its brands LiquiBand(®), RESORBA(®),
LiquiBandFix8(®), LIQUIFIX™ and Seal-G(®). AMS also supplies wound care
dressings such as silver alginates, alginates and foams through its
ActivHeal(®) brand as well as under white label. Since 2019, the Group has
made five acquisitions: Sealantis, an Israeli developer of innovative internal
sealants; Biomatlante, a French developer and manufacturer of surgical
biomaterials, Raleigh, a leading UK coater and converter of woundcare and
bio-diagnostics materials, AFS Medical, an Austrian specialist surgical
business and Connexicon, an Irish tissue adhesives specialist.

AMS's products, manufactured in the UK, Germany, France, the Netherlands, the
Czech Republic and Israel, are sold globally via a network of multinational or
regional partners and distributors, as well as via AMS's own direct sales
forces in the UK, Germany, Austria, the Czech Republic and Russia. The Group
has R&D innovation hubs in the UK, Ireland, Germany, France and Israel.
Established in 1991, the Group has more than 800 employees. For more
information, please see www.admedsol.com (http://www.admedsol.com/) .

 

 

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