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    • March 13th, 2024, Eurazeo signed an agreement to sell all the share capital of Peters Surgical to Advanced Medical Solutions Group plc (AMS), a world-leading specialist in tissue-healing technologies listed in the London Stock Exchange. The transaction remains subject to approval of French authorities for foreign direct investment control.

    Eurazeo has been supporting Peters Surgical, a leading global provider of specialty surgical sutures, mechanical haemostasis and internal cyanoacrylate devices, as a majority shareholder, since 2013. Over the past years, Eurazeo has enabled the company to expand its presence in the operating room by developing organically and by acquiring new product ranges, such as haemostatic clips or surgical glue. Thanks to numerous acquisitions, Peters Surgical has also increased its shares of direct-selling capabilities, and expanded its geographical presence in the United States, in Asia and in key European countries (Germany, Poland, among others).

    Chris Meredith, Chief Executive Officer of AMS, said: “Peters Surgical is an ideal fit for AMS in terms of its complementary expertise, global reach and potential for synergies with AMS’ existing portfolio. As well as broadening our portfolio, AMS will benefit from the shared capabilities of the two companies increasingly over time, including direct sales channels, distribution networks, and manufacturing locations. We’re thrilled to have secured such a transformational deal which aligns perfectly with our acquisition strategy.”

    “Peters Surgical has grown into one of the leading providers of specialty surgical products thanks to the efforts of all the teams and the support of Eurazeo. We are excited about the opportunities that this combination between two European industrial groups. AMS is a world leading specialist in tissue-healing technologies, this synergy will benefit to patients, surgeons and employees.”, states Thierry Herbreteau, Chief Executive Officer of Peters Surgical.

    About Advanced Medical Solutions plc

    AMS is a world-leading independent developer and manufacturer of innovative tissue-healing technology, focused on quality outcomes for patients and value for payers. AMS has a wide range of surgical products including tissue adhesives, sutures, haemostats, internal fixation devices and internal sealants, which it markets under its brands LiquiBand®, RESORBA®, LiquiBandFix8®, LIQUIFIX™ and Seal-G®. AMS also supplies wound care dressings such as silver alginates, alginates and foams through its ActivHeal® brand as well as under white label. Since 2019, the Group has made five acquisitions: Sealantis, an Israeli developer of innovative internal sealants; Biomatlante, a French developer and manufacturer of surgical biomaterials, Raleigh, a leading UK coater and converter of woundcare and bio-diagnostics materials, AFS Medical, an Austrian specialist surgical business and Connexicon, an Irish tissue adhesives specialist.

    AMS’s products, manufactured in the UK, Germany, France, the Netherlands, the Czech Republic and Israel, are sold globally via a network of multinational or regional partners and distributors, as well as via AMS’s own direct sales forces in the UK, Germany, Austria, the Czech Republic and Russia. The Group has R&D innovation hubs in the UK, Ireland, Germany, France and Israel. Established in 1991, the Group has more than 800 employees. For more information, please see www.admedsol.com.

     

    About Peters Surgical

    Peters Surgical is a manufacturer and distributor of high-quality surgical closure devices including sutures, titanium clips, clamps and surgical glues. The portfolio is focused on surgical specialties in the Cardiovascular ‘’CV’’, Visceral, and Digestive Urology and Gynaecological (“DUG”) surgical indication areas. Headquartered in France, Peters Surgical was founded in 1926 and today employs approximately 650 people around the world.

    Peters Surgical operates a fully integrated business model including research and product development, regulatory and clinical affairs, device manufacture, distribution, commercial and after-sales service. It owns manufacturing facilities in France, Thailand, India and Germany.

    Peters Surgical sells products in over 90 countries with direct sales infrastructure in France, USA, Germany, India, Poland and Belgium; and with a hybrid sales model in the APAC region.

     

    Acquisition objectives

    In Peters Surgical, the AMS Board of Directors believe they have identified a substantial acquisition that fulfills all of their strategic criteria: expanding the Group’s presence in the operating room, increasing the portfolio and sales of AMS branded products, increasing direct selling capabilities and volumes and expanding its global industrial footprint.

    • Portfolio & indication expansion

    Combining highly complementary portfolios of surgical products creates a leading player in tissue repair and skin closure, and can accelerate the move to expanded indications for current products;

    • Major global quality specialty supplier creation

    Positioning AMS as one of the world’s most complete, diverse, and unique suture, glue and clip manufacturers with a focus on high-quality, specialty products;

    • Direct sales capability in key territories increase

    Adding direct sales teams in France, USA, Germany, India, Poland and Belgium, allows AMS products to be sold directly into these strategic markets while adding Peters Surgical products into the direct channel portfolios in UK, Germany, Austria, the Czech Republic;

    • Commercial footprint in key regions expansion

    Using Peters Surgical’s APAC, US and EMEA commercial footprint will expedite and expand AMS’s ambitions in those regions;

    • Distribution networks leverage

    Optimizing each of AMS and Peters Surgical global partnerships and distribution networks would maximize cross-selling opportunities in markets in which both businesses are strongest, with complementary yet differentiated footprints in Europe and Asia;

    • Manufacturing efficiency improvement

    Leveraging the enlarged Group’s manufacturing capacity to optimize production capabilities and competitiveness.

     

    Anticipated impact of the Acquisition on AMS

    AMS plans to work with Peters Surgical’s senior management (including the current Peters Surgical CEO, Thierry Herbreteau) during the integration to identify how best to use the additional substantial skills and experiences of Peters Surgical’s employees for the benefit of the new enlarged AMS Group. The Directors’ primary focus is on maintaining business continuity and retaining critical talent, to ensure a smooth transition, whilst also dedicating resource to the successful integration and future growth of the two businesses.