Advanced Medical Solutions Grp PLC
08 December 2003
For Immediate release 8th December 2003
Advanced Medical Solutions Group plc ('AMS' or the 'Company')
Trading update &
New supply agreement for its advanced woundcare products
with ADL GmbH ('ADL')
Winsford, UK, Monday 8th December 2003 - Advanced Medical Solutions Group plc
(AIM: AMS), the global woundcare technology company today announces that it
continues to make good progress in signing new partners and progressing new
products through development and regulatory approval for launch into the
woundcare market. The Company currently has four products in the latter stages
of FDA and CE Mark approval. Significant growth in turnover has been achieved
during the second half of the year both through the Company's business to
business partnerships and its direct UK sales into the NHS. This growth
reflects the investments that have been made in Sales & Marketing and R & D
since the beginning of the year in order to take the Company through to
profitability next year.
Following the disappointments and delays in signing up partners and launching
new products that occurred in the first half of the year, this upturn in
business had been anticipated. However, despite signing up new partners, these
initial delays have resulted in certain products being introduced to the market
place later than originally anticipated to fit in with partners' revised launch
programmes. This has caused the second half year growth to be less than
anticipated, which will result in 2003 sales being lower and losses being
greater.
The Board however, remain confident that this is a year-end timing issue, and
based on our partners successfully launching the new products according to
schedule, the Company will come through to profitability in 2004 within current
cash.
*****************
In a separate announcement released today: AMS has entered into a supply and
distribution agreement with ADL GmbH allowing for the Company to expand its
business in the German woundcare market.
Under the terms of the agreement announced today, AMS will supply a broad range
of its woundcare products including alginate, hydrocolloid, foam and film
dressings for distribution under ADL's Decutastar(R) brand.
Munster based ADL is a privately owned marketing and distribution company,
operating primarily in the community care sector with a focus on products for
the treatment of patients with chronic wounds such as ulcers and pressure sores.
Commenting on this agreement, Dr Don Evans, CEO of AMS, said:
'We are delighted to have added ADL to our list of partners, and this agreement
offers an excellent opportunity to further expand our business in Germany.
ADL's strong presence in the community sector fits well alongside our existing
hospital and nursing home business.
Mr. Peter Orth, CEO of ADL GmbH, added:
'The wide range of advanced woundcare materials and products that AMS provides
makes them an ideal technology partner for us. We look forward to developing
our relationship and adding further products to our portfolio.'
- ENDS -
For further information, please contact:
Advanced Medical Solutions Group plc Tel : +44 (0) 1606 863 500
Don Evans, Chief Executive Officer
Geoffrey Vernon, Chairman
www.admedsol.com
Buchanan Communications Tel: +44 (0) 20 7466 5000
Mark Court, Mary-Jane Johnson
Notes to Editors:
Advanced Medical Solutions is a leading company in the development and
manufacture of products for the £15 billion global woundcare market.
Founded in 1991 and currently quoted on AIM, Advanced Medical Solutions is
focused on the design, development and manufacture of innovative and
technologically advanced products for woundcare and other medical applications.
In-house natural and synthetic polymer technology is used to provide advanced
wound dressings based on the moist healing principle. AMS's 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 from product design and development through to production and delivery
ready for distribution into customer markets.
The acquisition of MedLogic in 2002 has brought AMS products and technology in
cyanoacrylate based tissue adhesives and sealants sold direct to A & E
departments or through distributors.
AMS's technology and products currently serve the majority of the key global
markets with strategic partners including 3M, Novartis, Johnson & Johnson,
Molnlycke Healthcare, Coloplast, Smith + Nephew and Beiersdorf.
This information is provided by RNS
The company news service from the London Stock Exchange
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