StockMarketWire.com - Wound care specialist company Advanced Medical Solutions said it had acquired French company Biomatlante for at least €8m in a bid to boost its surgical portfolio.

Biomatlante was an international developer and manufacturer of innovative surgical biomaterial technologies.

The acquisition would strengthen Advanced Medical Solutions's product portfolio, R&D pipeline, and market access.

It would also provide the group with a range of revenue-generating surgical products and an R&D pipeline of complementary biosurgical technologies.

The acquisition was expected to be marginally earnings enhancing in the first full year of ownership, the company said.

Under the agreement, the company paid an initial €8m (approximately £7m) in cash, with a potential further up to €0.3m due over the next two years subject to the achievement of certain new product approval milestones.

At 9:43am: [LON:AMS] Advanced Medical Solutions Group PLC share price was +1.25p at 262.25p

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