US helps Advanced Medical revenue up 20% to £82.6m

Chris Meredith

Winsford, Chesire-based surgical and advanced wound care firm Advanced Medical Solutions Group (AMS) said its 2016 revenue rose 20% to £82.6 million and profit before tax rose 12% to 19.1 million, helped by strong sales in the United States.

AMS shares have risen more than 30% in the past year to give it a current stock market value of more than £500 million.

AMS’s products, manufactured at two sites in the UK, one in the Netherlands, two in Germany and one in the Czech Republic, are sold in more than 70 countries via a network of partners as well as through AMS’s own direct sales forces in the UK, Germany, the Czech Republic and Russia.

AMS CEO Chris Meredith said: “2016 was the twelfth 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.”