Joint Venture

RNS Number : 7207U

Advanced Medical Solutions Grp PLC

19 May 2008

 



For Immediate Release

19 May 2008

Advanced Medical Solutions Group plc 

('AMS' or 'the Company')

Joint Venture between 

Recticel and Advanced Medical Solutions Group (AMS)

Winsford, UK: Advanced Medical Solutions Group plc (AIM: AMS), the global medical technology company, today announces that AMS and Recticel have reached an agreement to form a Joint Venture relating to Corpura B.V., Recticel's fully owned subsidiary. 

Corpura, established in 2004, as part of Recticel's Flexible Foams Division, develops and produces hydrophilic polyurethane foams out of a state of the art, dedicated R&D and manufacturing facility in Etten Leur, The Netherlands. 

Employing 13 people, the company reached sales of EUR 2.2 million and became cash generative in 2007, serving medical and cosmetic/body care applications in the European market. 

Corpura currently supplies AMS with polyurethane foam for inclusion into its advanced wound care dressings.

As a result of this transaction AMS will acquire 49.4 % of the Corpura shares. The Joint Venture will become effective on closing on May 30th, 2008.

Hydrophilic polyurethane foam is one of the largest and fastest growing segments of the USD 3.2 billion (EUR 2.1 billion) advanced wound care market. It is an ideal material for the treatment of medium to high exudate chronic wounds and for delivery of active technologies to prevent infection and help accelerate wound healing. 

AMS and Recticel are delighted to form this joint venture. The combination of AMS wound care expertise with Recticel's world-class polyurethane know-how will help Corpura to accelerate its growth. 

For further information, please contact:

Advanced Medical Solutions Group plc
Don Evans, Chief Executive Officer Mary Tavener, Finance Director www.admedsol.com	Tel: [phone]
Buchanan Communications	Tel: [phone]
Mark Court, Mary-Jane Johnson Landsbanki Securities (UK) Ltd Shaun Dobson / Claes Spang Recticel Group Jan De Moor Recticel spokesman www.recticel.com	Tel: [phone] Tel: [phone] Mobile: [phone] [e-mail]

Notes to Editors

Advanced Medical Solutions is a leading company in the development, manufacture and sale of products into the USD 15 billion global wound care market.

Founded in 1991 and quoted on AIM, Advanced Medical Solutions is focused on the design, development and manufacture of innovative products for advanced wound care and wound closure.

In-house natural and synthetic polymer technology is used to provide advanced wound dressings based on the moist healing principle. AMS' resources ensure a unique position as a vertically integrated 'one stop shop' to provide all categories of moist wound healing products. The Company has the capability to move a product from design and development through to production and delivery ready for distribution into customer markets.

AMS' technology in cyanoacrylate based tissue adhesives is used either for the closure of small cuts and trauma wounds through to large surgical incisions, or for protecting or sealing skin to prevent breakdown or infection. 

AMS' products currently serve the majority of the key global markets sold either direct or through strategic partners or distributors.

AMS achieved revenues of GBP 16.9 million in 2007.

Recticel in a nutshell

Recticel is a Belgian Group with a strong European dimension, but also operates in the rest of the world. Recticel has some 130 establishments in 27 countries.

Recticel contributes to daily comfort with foam filling for seats, mattresses and slat bases of top brands, insulation material, interior comfort for cars and an extensive range of other industrial and domestic applications.

Recticel is the Group behind well-known bedding brands, including Beka, Epeda, Lattoflex, Literie Bultex, Schlaraffia, Sembella, Swissflex, Superba and Ubica.

Recticel is driven by technological progress and innovation, which has led to a revolutionary breakthrough at the biggest names in the car industry.

Recticel achieved sales to a value of EUR 1.6 billion in 2007.

Recticel (NYSE Euronext: REC.BE - Reuters: RECTt.BR - Bloomberg: REC.BB) is quoted on NYSE Euronext in Brussels.

 

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