Last checked at 10 Jan 2023 07:00
10 January 2023
Advanced Medical Solutions Group plc
("AMS" or the "Group")
Full Year Trading Update - In Line with Expectations
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 2022 (the "Period").
The Group is pleased to report that trading for the Period was strong as both Business Units continued to perform well. Group revenues and profits for the Period are expected to be in line with market expectations.
AMS also made good progress during 2022 in its regulatory and clinical programmes including the US approval of LiquiBand® XL in May and the submission of a PMA for LiquiBandFix8® in October. The initial European SEAL-G® clinical trial also continues to progress well with over two-thirds of patients now recruited and remains on track for completion in the first half of this year.
The Group expects to announce its preliminary results on Wednesday 15 March 2023.
Chris Meredith, Chief Executive Officer of AMS, commented: "I am very pleased to report that AMS continued to perform strongly in 2022 despite the macro-economic challenges. This is a testament to the resilience of our business model and the strength of our staff who have worked so hard to achieve this result. The progress we have made with our regulatory programmes is particularly significant and represents a major step forward in our plan to gain further traction in the US market. The underlying momentum throughout the Group, which has been further strengthened with promising new products, gives us confidence of meeting market expectations for 2023 and sustaining our growth profile in the long term."
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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 | |
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Consilium Strategic Communications | Tel: +44 (0) 20 3709 5700 |
Matthew Neal / Lucy Featherstone |
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Investec Bank PLC (NOMAD & Broker) | Tel: +44 (0) 20 7597 5970 |
Daniel Adams / Gary Clarence
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HSBC Bank PLC (Broker) | Tel: +44 (0) 20 7991 8888 |
Sam McLennan / Joe Weaving / Stephanie Cornish
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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® 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 four acquisitions: Sealantis, an Israeli medical device company with a patent-protected sealant technology platform; Biomatlante, an established French developer and manufacturer of innovative surgical biomaterial technologies, Raleigh, a UK leading coater and converter of materials predominately for woundcare and bio-diagnostics products and AFS Medical, an Austrian a specialist surgical business with a focus on minimally invasive procedures.
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, Germany, France and Israel. Established in 1991, the Group has more than 700 employees. For more information, please see www.admedsol.com.