Advanced Medical Solutions Grp PLC Full Year Trading Update (1554Z)
January 10 2024 - 1:00AM
UK Regulatory
TIDMAMS
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 GBP124-127 million for revenue and GBP25-27 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(R) 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 (R) XL
continues to increase rapidly and therefore the Board is confident
of achieving record US LiquiBand(R) revenues in 2024.
-- US launch of LiquiBandFix8(R) /LiquiFix (TM) - The US
roll-out of LiquiBandFix8(R) /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(R) route to market strategy, the
US Connexicon acquisition and the roll-out of LiquiBand(R) XL will
support the delivery of record US LiquiBand(R) 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(R) and ActivHeal(R) , 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(R) , RESORBA(R) , LiquiBandFix8(R) , LIQUIFIX(TM)
and Seal-G(R) . AMS also supplies wound care dressings such as
silver alginates, alginates and foams through its ActivHeal(R)
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 .
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END
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