Joint Venture

RNS Number : 7207U
Advanced Medical Solutions Grp PLC
19 May 2008
 



For Immediate Release 

    19 May 2008



Advanced Medical Solutions Group plc 

('AMS' or 'the Company')


Joint Venture between 

Recticel and Advanced Medical Solutions Group (AMS)



Winsford, UK: Advanced Medical Solutions Group plc (AIM: AMS), the global medical technology company, today announces that AMS and Recticel have reached an agreement to form a Joint Venture relating to Corpura B.V., Recticel's fully owned subsidiary. 


Corpura, established in 2004, as part of Recticel's Flexible Foams Division, develops and produces hydrophilic polyurethane foams out of a state of the art, dedicated R&D and manufacturing facility in Etten Leur, The Netherlands. 


Employing 13 people, the company reached sales of EUR 2.2 million and became cash generative in 2007, serving medical and cosmetic/body care applications in the European market. 


Corpura currently supplies AMS with polyurethane foam for inclusion into its advanced wound care dressings.


As a result of this transaction AMS will acquire 49.4 % of the Corpura shares. The Joint Venture will become effective on closing on May 30th, 2008.


Hydrophilic polyurethane foam is one of the largest and fastest growing segments of the USD 3.2 billion (EUR 2.1 billion) advanced wound care market. It is an ideal material for the treatment of medium to high exudate chronic wounds and for delivery of active technologies to prevent infection and help accelerate wound healing. 


AMS and Recticel are delighted to form this joint venture. The combination of AMS wound care expertise with Recticel's world-class polyurethane know-how will help Corpura to accelerate its growth. 


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

Tel: +44 (0) 20 7466 5000

Mark Court, Mary-Jane Johnson


Landsbanki Securities (UK) Ltd

Shaun Dobson / Claes Spang


Recticel Group

Jan De Moor

Recticel spokesman

www.recticel.com 



Tel: +44 (0) 20 7426 9000




Tel: +32 (0) 2 775 18 95

Mobile: 0032 (0) 475 42 78 26

demoor.jan@recticel.com


Notes to Editors


Advanced Medical Solutions is a leading company in the development, manufacture and sale of products into the USD 15 billion global wound care market.


Founded in 1991 and quoted on AIM, Advanced Medical Solutions is focused on the design, development and manufacture of innovative products for advanced wound care and wound closure.


In-house natural and synthetic polymer technology is used to provide advanced wound dressings based on the moist healing principle. AMS' resources ensure a unique position as a vertically integrated 'one stop shop' to provide 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 ready for distribution into customer markets.


AMS' technology in cyanoacrylate based tissue adhesives is used either for the closure of small cuts and trauma wounds through to large surgical incisions, or for protecting or sealing skin to prevent breakdown or infection. 


AMS' products currently serve the majority of the key global markets sold either direct or through strategic partners or distributors.


AMS achieved revenues of GBP 16.9 million in 2007.



Recticel in a nutshell


Recticel is a Belgian Group with a strong European dimension, but also operates in the rest of the world. Recticel has some 130 establishments in 27 countries.


Recticel contributes to daily comfort with foam filling for seats, mattresses and slat bases of top brands, insulation material, interior comfort for cars and an extensive range of other industrial and domestic applications.


Recticel is the Group behind well-known bedding brands, including Beka, Epeda, Lattoflex, Literie Bultex, Schlaraffia, Sembella, Swissflex, Superba and Ubica.


Recticel is driven by technological progress and innovation, which has led to a revolutionary breakthrough at the biggest names in the car industry.


Recticel achieved sales to a value of EUR 1.6 billion in 2007.


Recticel (NYSE Euronext: REC.BE - Reuters: RECTt.BR - Bloomberg: REC.BB) is quoted on NYSE Euronext in Brussels.




This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
JVESFUFDASASELI
UK 100