31st Jan 2019 11:51
LONDON (Alliance News) - Advanced Medical Solutions Group PLC on Thursday said it acquired Sealantis Ltd, a developer of an alginate-based tissue adhesive technology platform, for USD25 million.
The payment for the acquisition is in cash, funded from existing resources. The firm will also pay royalties, in line with market rates, until December 2027.
The surgical and advanced wound care firm said that the acquisition will enhance its access to the internal surgery market. The two businesses have "multiple synergies" in the sales, marketing and regulation areas, the firm explained.
Advanced Medical Solutions shares were trading up 1.4% at 295.00 pence each.
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