H.B. Fuller to buy Advanced Medical Solutions for £659m

H.B. Fuller has agreed to acquire Advanced Medical Solutions for £659 million in an all-cash offer of 285 pence per share. The price values the U.K.-listed medical technology firm at about £715 million including assumed debt and represents roughly a 35% premium to the closing share price on May 20.

Advanced Medical Solutions makes surgical adhesives, wound care products, tissue-healing technologies and biosurgical solutions used by hospitals and healthcare providers. H.B. Fuller, a U.S.-based adhesives manufacturer, has been expanding its healthcare product range through acquisitions.

H.B. Fuller expects about $55 million of annual run-rate cost and revenue synergies by 2031 from procurement savings, manufacturing efficiencies and cross-selling opportunities. The company expects the deal to broaden manufacturing, research and commercial capabilities across North America, Europe and Asia and to strengthen its healthcare segment.

The takeover followed several months of interest from strategic and financial buyers. Private equity firms, including TA Associates, were involved in the process; TA Associates withdrew in May without making a formal offer.

The acquisition is subject to shareholder approval, regulatory clearances and customary closing conditions. Completion is expected before the end of 2026.

The 285p per-share cash offer and the stated synergy targets form the financial case H.B. Fuller has presented as it integrates AMS’s product range and global operations into its existing healthcare platform.