Woundcare firm’s revenue and profits soaring

ADVANCED Medical Solutions, the Cheshire-based international manufacturer and supplier of woundcare products, has enjoyed a 9% increase in revenue to £68.6m and adjusted pre tax profits of £17.4m – 12% up.

In its unaudited preliminary results for the year ended December 31 the company reported good sales progress across all its business on a constant currency basis.

Its product ActivHeal continued to make good progress in the UK NHS, with an 8% increase in revenue,  Silver alginate revenues increased by 10% at constant currency to £15.5m.

Hernia mesh fixation device, LiquiBand Fix8 delivered £1m of sales in the first full year and launched in 20 countries and there was   CE approval for antimicrobial foam including Polyhexamethylene Biguanide (PHMB) for Europe received on August 27 2015 with launches expected in 2016.

FDA approval in the US for two new product claims for the octyl formulation product, LiquiBand Exceed, gave the company a competitive advantage in the topical skin adhesive market.

There was also FDA approval to market suture portfolio in the US in line with strategy post acquisition of Resorba.

Chief executive Chris Meredith said: “We have delivered another strong year of growth and are pleased to report that all of our business units are performing well despite some challenging currency conditions.

“The growth in the US has been markedly strong for AMS where the performance and range of our LiquiBand tissue adhesives, in particular, is driving market share gains.
 
“We have also been pleased with the number of new product approvals we have achieved this year, demonstrating the continuing success of our innovation and we are confident that, with our strong R&D pipeline, we will continue to deliver growth.”