Advanced Medical Solutions

Acquisition of Peters Surgical

A leading provider of surgical sutures, mechanical haemostasis and surgical glue.

Advanced Medical Solutions has received regulatory approval to complete the acquisition of Peters Surgical, following the successful French Foreign Direct Investment screening process. The transaction was completed on 1 July 2024. Peters Surgical is one of the leading European provider of specialty surgical sutures, mechanical haemostasis and internal cyanoacrylate devices. Their speciality surgical products which will strengthen AMS’s position as a leading global specialist in tissue repair and skin closure.

"As well as broadening our portfolio, AMS will benefit from the shared capabilities of the two companies, including direct sales channels, distribution networks, and manufacturing locations.

We’re thrilled to have secured such a transformational deal which aligns perfectly with our strategy."

Chris Meredith,

Chief Executive Officer of AMS

With the addition of Peters Surgical and Syntacoll, Peters Surgical generated revenues of €84 million in the twelve months to 31 December 2023 and AMS’s consolidated surgical revenue for FY23 would have been almost double, representing nearly 80% of AMS Group revenues. The Board expects the transaction will deliver high single digit earnings accretion from FY25, excluding significant anticipated commercial and operational synergies.

The transaction was completed on 1 July 2024, which triggered an initial cash payment of €132.5 million (approximately £113.2 million). An earnout of up to €8.9 million (approximately £7.6 million) would be payable in FY2025 on delivery of US regulatory approvals, achievement of FY24 revenue and gross margin targets, and satisfying certain inventory and tax conditions as outlined in the announcement on 13 March 2024.

"We are excited about the opportunities that this combination with AMS, a world leading specialist in tissue-healing technologies, and the benefits that the transaction can bring to physicians, patients and employees."

Thierry Herbreteau,

Chief Executive Officer of Peters Surgical

In anticipation of completion, we have been working closely with Peters Surgical to begin an extensive integration project, with a dedicated team now in place to manage the process which has confirmed our view of the quality of the Peters Surgical business, its complementarity with AMS’s existing offering, as well as the enthusiasm and commitment of its staff. This transaction is a substantial step forward for AMS as we establish an enhanced portfolio of own-branded products, strengthen our direct sales capabilities and look to secure greater global traction in key markets.

Further information


RNS Announcement


Peters Surgical

2023 Annual Report -

Peters Acquisition