Half Year Trading Update

RNS Number : 4370R

Advanced Medical Solutions Grp PLC

06 July 2022

 

6 July 2022

Advanced Medical Solutions Group plc

("AMS" or the "Group")

Half Year Trading Update

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 six months ended 30 June 2022 (the "Period"). The Group expects to announce its interim results on Wednesday 14^th September 2022. 

The Group is pleased to report that trading in the first half of 2022 continues to be strong and in line with the Board's expectations as healthcare markets return to normal. Group revenues for the period are expected to be approximately £58 million. Both Business Units performed well during the first half and the Board remains confident that the Group is on track to meet market expectations for the full year.

Good progress continues to be made with key regulatory and clinical programmes. In particular, the FDA 510(k) approval of LiquiBand^® XL, announced in May 2022, was a significant step in the development of the LiquiBand^® franchise and the product remains on track to be launched in the US during Q3 this year.

Chris Meredith, Chief Executive Officer of AMS, commented : "I am delighted with the ongoing strength in trading across the company and that we remain on track to meet expectations this year. I am also very pleased with the progress that our development teams have made. We continue to expect that a number of key projects will reach major milestones over the next 12 months and will play an important role in sustaining our top line growth in the long-term."  

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For further information, please contact:

Advanced Medical Solutions Group plc	Tel: [phone]
Chris Meredith, Chief Executive Officer Eddie Johnson, Chief Financial Officer Michael King, Investor Relations
Consilium Strategic Communications	Tel: [phone]
Mary-Jane Elliott / Matthew Neal / Matthew Cole
Investec Bank PLC (NOMAD & Broker)	Tel: [phone]
Daniel Adams / Gary Clarence
HSBC Bank PLC (Broker)	Tel: [phone]
Sam McLennan / Joe Weaving / Stephanie Cornish

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, a specialist distributor of minimally invasive surgical devices based in Austria.

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, 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 .

 

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