Last checked at 17 Dec 2009 07:00
| For Immediate Release | 17 December 2009 |
Advanced Medical Solutions Group plc
("AMS" or "the Company")
Trading Update
Winsford, UK: Advanced Medical Solutions Group plc (AIM: AMS), the global medical technology company, today announces an update on trading prior to its close period for the year ending 31 December 2009.
Dr. Geoffrey Vernon, Chairman of Advanced Medical Solutions Group plc, stated:
"I am pleased to report that AMS has had a strong second half of the year and that the Board expects full year earnings to be in line with market expectations.
"The Company has commenced sales of its LiquiBand™ topical skin adhesive products in the US market. Whilst FDA approval is still under review for LiquiBand™ products with specific applications in the operating room, current budgets are covered by the products already approved.
"Integration of the Corpura business acquired in October 2009 is proceeding well and is confirming our belief that polyurethane foam will be one of the key drivers of future growth for the Company.
"The new facility at Winsford is also proceeding well. Phase I fit-out covering the warehouse, laboratories, offices and initial manufacturing clean rooms is complete. Equipment is being installed and regulatory approval has been received from BSI, our notified body, which now allows us to ship product from the new site. Phase II fit-out covering the remainder of the manufacturing clean rooms is well underway, and the entire project remains within budget and on track for completion by the end of 2010 as planned. It will provide AMS with a world class medical device facility to support its future growth plans."
-ENDS-
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) 1606 545508 |
| Buchanan Communications | |
| Mark Court / Stasa Filiplic | Tel: +44 (0) 20 7466 5000 |
| Investec Bank plc | Tel: +44 (0) 20 7597 5970 |
| Gary Clarence / Tim Pratelli / Daniel Adams |
Notes to Editors:
Advanced Medical Solutions develops and manufactures 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 in-house 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.
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.