Advanced Medical Solutions: Distribution Collaboration to Launch LiquiBand Fix8 in the U.S.

Advanced Medical Solutions continues to make progress with its new products and its objective to enlarge its footprint in the U.S. market. While we see signs of forward movement, we think it could take time for the uptake of new LiquiBand products to reach critical mass, and we’re leaving our fair value estimate unchanged. AMS has clearly demonstrated its ability to innovate across its product portfolio, in our view. The firm is also unusual in that it began as an original equipment manufacturer to the branded woundcare competitors but has more recently ventured into making its own branded tissue adhesives, sealants, and sutures successfully. The company’s ability to acquire and then build on different tissue technology platforms supports its narrow economic moat.