Connexicon Medical Limited, a leader in tissue adhesive technology, has been acquired by Advanced Medical Solutions Group plc (AIM: AMS), the world’s foremost expert in tissue-healing technologies for a reported €25m consideration.
The acquisition expands AMS’s product line, strengthens its market position in the $300 million worldwide tissue adhesive industry, and greatly improves its technical and R&D capabilities in cyanoacrylate technology.
Connexicon is an expert in medical tissue adhesives with a base in Dublin. It was established in 2014 by Padraig Leamy and founded as a result of a carve-out of management, technology, and knowledge from Henkel AG & Co. KGaA. It has a technological platform that is now being sold in Europe under the brand name Indermil® Flexifuze TM, and an intriguing pipeline of new drugs aiming for US clearance by early 2024.
Advanced Medical Solutions Group PLC is a global manufacturer and distributor of wound care, surgical and wound closure products. It was established in 1991 in Cheshire, UK. In FY Dec 21 the company reported turnover of c. £108.6m which converted to c. £31.8m EBITDA.
With Connexicon’s brands, products, chemistries, knowledge, and R&D capabilities joining the Group’s extensive business partnerships, regulatory experience, and production infrastructure, the purchase strengthens AMS’s leadership position in the worldwide tissue adhesive market. The Group significantly increases its capacity to create and introduce ground-breaking adhesive and sealant innovations in the upcoming years by merging the R&D, chemistry, and cyanoacrylate expertise of both companies.
Connexicon’s products will eventually see higher sales volumes, which will result in considerable operational benefits by boosting the leverage of the Group’s current brands and assets. Additionally, when regulatory clearances are granted in the $260 million US market, expanding the commercialisation of the Indermil® portfolio and pipeline medicines through AMS’s existing, global distribution network will present additional commercial potential.