(Alliance News) - Advanced Medical Solutions Group PLC on Wednesday said its route-to-market strategy for Liquiband in the US is now fully operational after signing three five-year hospital distribution agreements.
The Cheshire, England-based surgical dressings company expects the strategy to accelerate the growth of Liquiband in the US from the fourth quarter of the year, as well as build AMS's underlying momentum within what the company says is a market worth USD270 million.
Liquiband is used for the surgical repair of inguinal and ventral incisional hernias.
"This new strategy will enable more product and brand differentiation that will be further strengthened following the expected approval of the Connexicon range in 2024," AMS said.
Chief Executive Officer Chris Meredith said: "The successful signing of all three US distribution agreements is a significant step forward for the group and marks an important inflection point for the growth of the Liquiband portfolio. We are extremely proud of what we have achieved to date in the US, having secured over [20%] of the available market. This strengthened route-to-market strategy now provides greater opportunities for us and is an important step in our ambition to more than double market share in the medium term. I look forward to building even stronger and more productive relationships with all our partners as we embark on this next phase of the Liquiband growth story."
Shares in Advanced Medical were up 1.0% at 191.00 pence each in London on Wednesday morning.
By Sabrina Penty, Alliance News reporter
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Advanced Medical Solutions Group (AMS)