Advanced Medical Solutions Group plc
(“AMS”, the “Company” or the “Group”)
Third party sterilisation failure
Winsford, UK, 29 November 2019: Advanced Medical Solutions Group plc (AIM: AMS), the surgical and advanced woundcare specialist company, has today been notified by one of its third party medical device sterilisation partners of a failure at one of their UK e-beam sterilisation facilities. Consequently, many of the December orders for the Company’s topical adhesive product, Liquiband®, will not be sterilised and shipped to customers during this financial year ending 31 December 2019.
The full financial impact will not be known until after the closing of the financial year but it is potentially up to £2 million of EBITDA.
AMS has been informed by the supplier that they expect to be back in operation from January 2020, at which point the backlog will be addressed.
We do not expect any significant impact on end user sales given the inventories held by our key customers.
AMS expects to announce a post period end trading update in mid January 2020.
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For further information, please visit www.admedsol.com or contact:
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Advanced Medical Solutions Group plc |
Tel: 44 (0) 1606 545508 |
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Chris Meredith, Chief Executive Officer Eddie Johnson, Chief Financial Officer |
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Consilium Strategic Communications |
Tel: 44 (0) 20 3709 5700 |
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Mary-Jane Elliott / Matthew Neal / Nicholas Brown / Olivia Manser |
AMS@consilium-comms.com |
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Investec Bank PLC (NOMAD & Broker) |
Tel: 44 (0) 20 7597 5970 |
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Daniel Adams / Gary Clarence / Patrick Robb |
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About Advanced Medical Solutions Group plc – see www.admedsol.com
AMS is a world-leading independent developer and manufacturer of innovative and technologically advanced products for the global surgical and woundcare markets, focused on quality outcomes for patients and value for payers. AMS has a wide range of surgical products including tissue adhesives, sutures, haemostats, and internal fixation devices, which it markets under its brands LiquiBand®, RESORBA®, and LiquiBandFix8®. AMS also supplies wound care dressings such as silver alginates, alginates and foams through its ActivHeal® brand as well as under white label. In 2019, the Group acquired Sealantis, an Israeli-based medical device company with a patent-protected internal sealant technology platform.
AMS’s products, manufactured in the UK, the Netherlands, Germany, and the Czech Republic, 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 and Germany, as well as the recently acquired R&D facility in Israel. Established in 1991, the Group has approximately 650 employees. For more information please see www.admedsol.com
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