Last checked at 9 Apr 2009 16:01
| For Immediate Release | 9 April 2009 |
Advanced Medical Solutions Group PLC
("AMS" or the "Company")
Exceptional non-trading item
The Board of AMS has been pursuing a growth strategy which involves both organic opportunities and targeted acquisitions. As announced at the time of the preliminary results in March 2009, the Company's organic growth and balance sheet was strong and the Board continues to pursue a number of exciting growth opportunities in both its Advanced Woundcare and Wound Closure and Sealants businesses.
With regards to acquisition opportunities, the Board has been pursuing an opportunity that had reached an advanced stage of discussions but which has now terminated. The costs relating to this aborted transaction are expected to be between £700,000 and £800,000, which will be reported as an exceptional cost in the current financial year.
For further information, please contact:
| Advanced Medical Solutions Group plc Don Evans, Chief Executive Officer Mary Tavener, Finance Director www.admedsol.com | Tel: +44 (0) 16 0654 5508 |
| Buchanan Communications Mark Court / Stasa Filiplic | Tel: +44 (0) 20 7466 5000 |
| Investec Bank plc Richard Jones Tim Pratelli Daniel Adams | Tel: +44 (0) 20 7597 5970 |
Notes to Editors:
Advanced Medical Solutions is a leading company in the development and manufacture of products for the $15 billion global woundcare market.
Founded in 1991 and quoted on AIM, Advanced Medical Solutions is focused on the design, development and manufacture of innovative products for advanced woundcare and wound closure.
The advanced woundcare products are based on the moist wound healing principle. AMS uses its inhouse technology to provide a vertically integrated 'one stop shop' for all categories of moist wound healing products. The Company has the capability to move a product from design and development through to production and delivery for distribution and sale into customer markets.
The acquisition of a 49.4% stake in Corpura BV in May 2008 strengthened AMS's position in hydrophilic polyurethane foam - the largest and fastest growing segment of the advanced woundcare market.
AMS' technology in cyanoacrylate based tissue adhesives is used for the closure of small cuts and trauma wounds through to large surgical incisions, and also for protecting or sealing skin to prevent breakdown or infection.
AMS' products which currently serve the majority of the key global markets are sold either direct or through strategic partners and distributors.