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ASX ANNOUNCEMENT
ASX Market Announcements Australian Securities Exchange Limited 10th Floor, 20 Bond Street SYDNEY NSW 2000
Admedus Limited (ASX:AHZ)
ADMEDUS ENTERS INTO AGREEMENT WITH GROUP PURCHASING ORGANISATION
Admedus Limited (ASX:AHZ) announces that its US subsidiary, Admedus Corporation, has entered into a ‘Purchasing Agreement - Cardiovascular Surgery, Vascular Repair’ with a major Group Purchasing Organisation (GPO) in the United States. The three-year agreement takes effect from 1 April 2018 and will give Admedus direct access to promote the flagship ADAPT® tissue products, CardioCel® and VascuCel®, to more than 1500 hospitals who are members of the GPO’s purchasing network which has an estimated purchasing power of $US35B.
Admedus is one of two parties awarded a purchasing agreement to share the estimated $US5.2M per annum spend. This agreement demonstrates the increasing visibility and credibility of Admedus’ clinically-superior ADAPT® products.
Admedus’ proprietary ADAPT® technology, used predominantly to treat congenital heart defects and those in need of heart valve, vessel and cardiovascular repairs, offers unrivalled calcification resistance and delivers transformative repair with long-term durability that enables native cells to successfully grow and differentiate through the entire repair.
Admedus Chief Executive Officer Wayne Paterson said,
“This agreement is a significant opportunity for Admedus and delivers on a commitment that was made at our AGM in November 2017 to expand our market share in the US through a partnership with a major compliant GPO.”
“In our most recent financial report we signalled aggressive US growth targets for 2018 and this agreement strengthens our ability to achieve that.”
Admedus Chief Operating Officer David St Denis also welcomed the agreement,
“The GPO we have signed entered into agreement with is a leader in health care delivery and their patient-focused strategy closely aligns with our own, ensuring physicians have access to clinically-superior products that enable them to make a real difference in the lives of their patients.”
“Admedus welcomes this agreement and looks forward to moving up the supply chain and claiming a greater share of the cardiovascular surgery and tissue repair market in the US.”
About Admedus Limited Admedus (ASX:AHZ) is a medical technologies company delivering clinically superior solutions that help healthcare professionals create life-changing outcomes for patients. Our focus is on investing in and developing next generation technologies with world class partners, acquiring strategic assets to grow product and service offerings and expanding revenues from our existing, profitable medical sales and distribution business. The company has assets from research & development through clinical development as well as sales, marketing and distribution.
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