Advanced Medical Solutions reports solid end to 2024

(Sharecast News) - Tissue-healing technology specialist Advanced Medical Solutions Group reported robust growth for the year ended 31 December in an update on Tuesday, driven by strategic acquisitions and continued strength across its product portfolio. The AIM-traded company said it anticipated full-year revenue of £177m, up 40% from £126.2m in 2023.

EBITDA was expected to rise to between £40m to £40.5m, compared to £29.7m in the prior year, with adjusted pre-tax profit forecast at £29.2m to £29.7m, up from £25.9m.

The group said it completed two major acquisitions in 2024 - Syntacoll on 1 March and Peters Surgical on 1 July .

It said the integration of the businesses had progressed well, contributing significantly to its performance and enhancing its presence in the surgical product market.

Strong growth was seen across all surgical product categories, further solidifying the group's leadership in the sector.

In its wound care division, AMS said it had implemented strategic initiatives to adapt to shifting market dynamics.

The measures were expected to improve margins in 2025, positioning the business for continued profitability.

"The progress we made in the second half of 2024 has strengthened the confidence we have in the strategic rationale for the recent acquisitions of Peters Surgical and Syntacoll," said chief executive officer Chris Meredith.

"The synergistic benefits they represent to AMS, in terms of products, expertise, geographic reach and scale, are clearer than ever.

"As we start the new year as an enlarged and more competitive group, I remain confident and excited about the growth and opportunities that we expect in 2025 and beyond."

AMS said it would announce its full-year results on 19 March.

At 1322 GMT, shares in Advanced Medical Solutions Group were up 11.78% at 213.05p.

Reporting by Josh White for Sharecast.com.