-Transformational acquisition of Peters Surgical strengthens AMS’s position as a leading global specialist in tissue repair and skin closure

-Acquisition expected to deliver high single-digit earnings accretion in the first full year

Winsford, UK: Advanced Medical Solutions Group plc (AIM: AMS), a world-leading specialist in tissue healing technologies, is pleased to announce it has entered into an agreement for the proposed acquisition of Peters Surgical, a leading global provider of specialty surgical sutures, mechanical haemostasis and internal cyanoacrylate devices.

Overview of Peters Surgical

• Peters Surgical is one of the leading European providers of speciality surgical products, generating revenues of €84.0 million in the twelve months to 31 December 2023
• Strengthens AMS’s position as a leading global specialist in tissue repair and skin closure, with a complementary product portfolio
• Significant long-term cost and commercial synergies, including increased direct sales capabilities, geographic expansion and cross-selling opportunities
• Expected to deliver high single digit earnings accretion in the first full year of ownership, being FY25
• Transaction is expected to complete at the end of June 2024
• Post-acquisition pro forma leverage of c.1.5x which is expected to reduce materially thereafter