- Advanced Medical Solutions Group
- 26 April 2024 17:19:21
Source: Sharecast
The AIM-traded firm said the move was poised to drive the growth of LiquiBand in the United States from the fourth quarter of the year.
Each five-year agreement was structured to expedite market share expansion and capitalise on the existing momentum established by AMS and its partners in the $270m market segment.
The strategy was designed to facilitate enhanced product and brand differentiation, further solidifying its position, especially with the anticipated approval of the ‘Connexicon’ range in 2024.
Moreover, the board said the newly implemented route-to-market strategy had created a robust marketing platform, enabling the successful introduction of LiquiBand XL to the US market across all three distribution channels.
That move built on the product’s current success, AMS said, contributing to an overall acceleration of LiquiBand growth.
AMS said the transition to the new agreements was seamless, with no disruption to end-user sales and no impact on customers.
Standard order patterns were also re-established for all three partners, ensuring reliable service in the critical healthcare sector.
“The successful signing of all three US distribution agreements is a significant step forward for the group and marks an important inflection point for the growth of the LiquiBand portfolio,” said chief executive officer Chris Meredith.
“We are extremely proud of what we have achieved to date in the US, having secured over 20% of the available market.”
That strengthened route-to-market strategy, Meredith said, now provided more significant opportunities for the company and was an essential step in its ambition to more-than-double market share in the medium term.
“I look forward to building even stronger and more productive relationships with all our partners as we embark on this next phase of the LiquiBand growth story.”
At 0845 BST, Advanced Medical Solutions Group shares were up 2.59% at 194.1p.
Reporting by Josh White for Sharecast.com.