Business
Joint Venture
Joint Venture.
About this update from Advanced Medical Solutions Group Plc
[{"type":"text","content":"\n RNS Number : 7207U Advanced Medical Solutions Grp PLC 19 May 2008 \n \n\n\n\n\nFor Immediate Release \n\n\n 19 May 2008\n\n\n\n\n\n\nAdvanced Medical Solutions Group plc \n('AMS' or 'the Company')\n\nJoint Venture between \nRecticel and Advanced Medical Solutions Group (AMS)\n\n\nWinsford, 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. \n\nCorpura, 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. \n\nEmploying 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. \n\nCorpura currently supplies AMS with polyurethane foam for inclusion into its advanced wound care dressings.\n\nAs 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.\n\nHydrophilic 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. \n\nAMS 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. \n\nFor further information, please contact:\n\n\n\n\n\nAdvanced Medical Solutions Group plc\n\n\n\n\n\n\n\nDon Evans, Chief Executive Officer\nMary Tavener, Finance Director\nwww.admedsol.com\n\n\n \n Tel: +44 (0) 1606 545508\n\n\n\n\n\n\n\n\n\n\n\n\nBuchanan Communications\n\n\nTel: +44 (0) 20 7466 5000\n\n\n\n\nMark Court, Mary-Jane Johnson\n\nLandsbanki Securities (UK) Ltd\nShaun Dobson / Claes Spang\n\nRecticel Group\nJan De Moor\nRecticel spokesman\nwww.recticel.com \n\n\n\n\nTel: +44 (...