The surgical and advanced wound care company, Advanced Medical Solutions Group (LON:AMS), announced on Thursday that it has acquired the Israeli-based company Sealantis for $25 million.
Sealantis is a medical device company based in Israel. Sealantis’ technology platform has several synergies with Advanced Medical Solutions. The most notable are within the sales, marketing, regulatory and operational areas.
Sealantis develops medical device products that mimic the mechanism of adhesion of algae to rocks in water.
The first product is expected to enter the European market from the first-half of the 2021 financial year.
The acquisition of Sealantis will strengthen the company’s current product portfolio.
CEO of Advanced Medical Solutions Group, Chris Meredith, commented on the acquisition of Sealantis:
“This acquisition is in line with our strategy to acquire technologies that are complementary to our surgical portfolio as well as allowing us to leverage our global routes to market. The acquisition enhances our access to a significant and high-margin market in internal surgery, which includes areas of unmet need for effective and absorbable internal sealants, a market estimated at $1 billion.”
“We are particularly excited to welcome Sealantis’ innovation team of R&D experts to AMS and look forward to working alongside them to develop the technology in a wide range of potential applications and indications.”
“As we work towards the commercialisation of Seal-G Surgical Sealant over the next 18 months, we expect to maximise the full value of the platform and this innovative technology. AMS continues to actively monitor and evaluate other acquisition opportunities to capitalise on its strong financial and strategic position.”
In the pharmaceutical sector, Shield Therapeutics recently announced that it had made developments in its iron-deficiency study. It also announced the appointment of a new chairman earlier this month.
At 13:59 GMT today, shares in Advanced Medical Solutions Group plc (LON:AMS) were trading at +4.30%.