07.06.18
For personal use only
ASX ANNOUNCEMENT
ASX Market Announcements
Australian Securities Exchange Limited
10th Floor, 20 Bond Street
SYDNEY NSW 2000
Admedus Limited (ASX:AHZ)
ADMEDUS ANNOUNCES CONCLUSION OF RELATIONSHIP WITH GO MEDICAL
Admedus Limited (ASX:AHZ) (the Company) today announces the conclusion of its
relationship with Go Medical Industries Pty Ltd (Go Medical), a manufacturer of medical
devices and accessories for the Infusion business.
This change in our supplier arrangement is expected to have a 5.7% impact on top-line
revenue for the financial year. It is important to note that this change relates only to the
supply of smaller intravenous consumable medical products, and has no impact on
Admedus’ distribution of infusion pumps to major hospitals.
Under the leadership of its new Business Unit Head, Mr Glenn Gilchrist, the Company has
been refreshing its long-term strategic plan for the Infusion business, which includes
assessing its capabilities, organisational footprint, and product portfolio.
The review identified certain products and pricing within the portfolio which needed to be
more competitive. The Company engaged Go Medical on these topics, seeking a mutually
beneficial outcome, but unfortunately were unable to reach agreement.
Admedus is committed to working closely with existing customers and Go Medical as it
transitions the business, and confirms it has adequate supply to meet demand during the 45day completion period.
Admedus CEO Wayne Paterson commented on today’s announcement:
“The Company believes that this outcome is in the best interest of all stakeholders in the
short, medium, and long-term. While this may have a short-term impact on the timing of
breakeven earnings, the Company still aims to be profitable for 2019. We have a great team
in place who consistently deliver above-target sales revenue and offer premium service to
our valued customers.”
ENDS
Admedus Limited
ABN 35 088 221 078
Registered Office
Level 9
301 Coronation Drive
Milton QLD 4064
Customer Service
T 1300 550 310
F 1300 880 398
International
T: +61 8 9266 0100
F: +61 8 9266 0199
E:
[email protected]
W:
www.admedus.com
Brisbane • Minneapolis
Zurich • Singapore
For personal use only
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 medical sales and distribution business. The company has
assets from research & development through clinical development as well as sales,
marketing and distribution.
Website:
www.admedus.com
Facebook:
www.facebook.com/Admedus
Twitter:
@Admedus
For more information, please contact:
Admedus Limited
Barbara Ferres
+61 7 3152 3216
[email protected]
Admedus Limited
ABN 35 088 221 078
Registered Office
Level 9
301 Coronation Drive
Milton QLD 4064
Customer Service
T 1300 550 310
F 1300 880 398
International
T: +61 8 9266 0100
F: +61 8 9266 0199
E:
[email protected]
W:
www.admedus.com
Brisbane • Minneapolis
Zurich • Singapore
(20min delay)