Advanced Medical Solutions Grp PLC
31 May 2002
For immediate release 31 May 2002
Advanced Medical Solutions GROUP plc ('AMS')
AGM STATEMENT
At its Annual General Meeting held today, Friday 31st May 2002, all resolutions
were duly passed.
In addition, AMS's Chairman, Dr. Geoffrey Vernon made the following statement:
'I am delighted to be able to report that, following our recent, successful
acquisition of MedLogic, integration into the main Group is well underway.
MedLogic, acquired for
£2.7 million, is a UK based company specialising in the development and
manufacture of medical grade tissue adhesives for the wound closure market.
The Medlogic product range has now been presented to many of AMS's major
blue-chip partners in the USA and Europe and the response has been very
encouraging - the Company remains optimistic about signing up partners for these
products during the second half of 2002. Additionally, the Medlogic UK direct
sales force has already launched AMS's Flexipore foam dressing into A&E
Departments throughout the country with initial feedback being very positive'.
'The Company is also pleased to announce the appointment of Dr. Richard Freeman,
who will be joining AMS in early June to head up the Group's Research &
Development function.
Dr. Freeman joins from Biocompatibles, where he has worked for the last 10
years. He brings relevant experience to help move AMS to higher value
technology, particularly in the delivery of active ingredients through our
woundcare products and in further developing our tissue engineering
capabilities.'
Furthermore, Dr. Vernon stated that:
'AMS's Professional Woundcare business continues to perform strongly,
highlighted by the recent announcement of a deal to supply an alginate product
to Johnson & Johnson Wound Management, a Division of Ethicon Inc.
'As we stated at the time of the results, we have shed a significant amount of
unprofitable Consumer business in order to ensure higher margins could be
achieved going forward. As a result we are concentrating on those products that
command the best premiums off the shelf. We are seeing a strong performance from
products such as blister dressings and scar reduction dressings and look forward
to the launch of additional specialized, effective products.
We remain confident of the outlook for the business for the full year'.
For further information, please contact:
Advanced Medical Solutions Group plc
Don Evans, Chief Executive Officer Tel: +44 (0) 1606 863500
Mary Tavener, Finance Director www.admedsol.com
Buchanan Communications Tel: +44 (0) 20 7466 5000
Nicola How /Fergus Mellon
This information is provided by RNS
The company news service from the London Stock Exchange
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