3 February 2025
RUA Life
Sciences Plc
("RUA Life Sciences",
the "Company" or the
"Group")
Acquisition
Update
RUA Life Sciences (AIM: RUA),
the holding company of a group of medical device businesses focused
on the exploitation of the world's leading long-term implantable
biostable polymer (Elast-Eon™), updates on the financial
performance of its French subsidiary (ABISS) which was acquired in
September 2024.
ABISS has a December financial year
end and, as noted in RUA's interim statements, ABISS was impacted
by supply chain challenges in the nine months to September 2024.
These challenges were overcome post-acquisition resulting in
trading income being weighted heavily towards the final quarter of
the year to 31 December 2024. The management accounts of ABISS
covering the year to December have now been prepared and reviewed.
At 31 December, shareholders' funds (net asset value) amounted to
€1.6 million. Total revenues of €2.3 million were achieved,
representing growth of 7% over the year to December 2023. A
profit before tax of €46k was recorded compared to a loss of €352k
in the prior year, and after adding back depreciation charges,
EBITDA increased 147% from €185k to €457k. Due to the supply chain
challenges, the pretax loss of ABISS for the 9 months to September
amounted to around €450k however as, stated above, this was
remedied with the result that the final quarter generated a profit
of approximately €500k.
Budgets and business planning are
currently being undertaken with expectations for further revenue
growth driven by increasing demand in Europe for ABISS's Cyrene
product range.
Bill Brown, CEO of RUA Life Sciences,
stated: "Abiss is demonstrating itself to be a very
high-quality business, and the combination with RUA allows a number
of strategic opportunities to be pursued in further developing the
group."
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014.
For
further information contact:
|
RUA
Life Sciences
Bill Brown, CEO
Lachlan Smith, CFO
|
Tel: +44 (0)1294 317073
Tel: +44 (0)1294 317073
|
|
Cavendish Capital Markets
Limited
(Nominated Adviser and Broker)
Giles Balleny/Dan
Hodkinson (Corporate Finance)
Charlie
Combe (Broking)
Michael
Johnson (Sales)
|
Tel: +44 (0)20 7220 0500
|
About RUA Life Sciences
The RUA Life
Sciences group was created in April
2020 when RUA Life Sciences Plc (formerly known
as AorTech International Plc) acquired RUA Medical
Devices Limited to create a fully formed medical device
business. RUA Life Sciences is the holding company of the
Group's four trading businesses, each exploiting the Group's
patented polymer technology.
Our vision is to improve the lives
of millions of patients by enabling medical devices with
Elast-EonTM, the world's leading long-term implantable polyurethane.
Whether it is licensing Elast-EonTM, manufacturing a device or
component, or developing next generation medical devices,
a RUA Life Sciences business is pursuing our
vision.
Elast-Eon™'s biostability is
comparable to silicone while exhibiting excellent mechanical, blood
contacting and flex-fatigue properties. These polymers can be
processed using conventional thermoplastic extrusion and moulding
techniques. With over 8 million implants and 15 years of successful
clinical use, RUA's polymers are proven in long-term life enabling
applications.
The Group's four business units
are:
|
RUA
Contract Manufacture:
|
End-to-end contract developer and
manufacturer of medical devices and implantable fabric
specialist.
|
|
RUA
Biomaterials:
|
Licensor of
Elast-EonTM polymers to the medical device
industry.
|
|
RUA
Vascular:
|
Commercialisation of open surgical
vascular grafts and patches
|
|
RUA
Structural Heart:
|
Development of polymeric leaflet
systems for heart valves.
|
