Wound care firm’s profits up thanks to overseas success
A strong performance in the USA and Europe has helped Cheshire-based surgical and advanced wound care specialist Advanced Medical Solutions deliver impressive year-end growth.
The AIM-listed Winsford company enjoyed a 20% increase in revenue to £82.6m in the year to December 31, while profits grew to £19.7m, a rise of 13% on the prior year.
Key to its success were sales of its LiquiBand tissue adhesive range which yielded £12.5m.
There was also the successful launch of antimicrobial and atraumatic foam dressings into Europe
Antimicrobial dressing revenues including both silver and PHMB (Polyhexamethylene Biguanide) were up 13% to £17.5m (2015: £15.5m) and 9% at constant currency.
Sales of the hernia mesh fixation device, LiquiBand Fix8 increased 73% to £1.7m (2016: £1m), 68% at constant currency, and is in use in 25 countries and isnow preparing for Pre Market Approval (PMA) in the US.
The German and Czech RESORBA business up 15% to £13.1mi(2015: £11.3m) and 4% at constant currency. The ActivHea® business declined 5% to £6m (2015: £6.4m).
AMC chief executive Chris Meredith said: “2016 was the 12th consecutive year of solid revenue growth for AMS and during the period all business units performed well resulting in increased profit and continued strong cash generation.
“Our LiquiBand products continue to perform well in the US and we now have captured more than 20% of the market with a target to achieve a further 10% share gain in the next three years.
“Our strategy for organic growth is to continue to expand into new geographies through further regulatory approvals, increase our distribution of surgical products through both our direct and distributed routes and launch further high quality products from our R&D pipeline that add value to payors and patients.”
