Thanks to 4Smickers for posting the excellent article before, it...

Thanks to 4Smickers for posting  the excellent article before, it is a great read and really emphasizes the importance of taking a long term approach to investing in Admedus..... Rarely in the world of healthcare do great things happen overnight.

An important factor in investing for me is the quality of management, their past history of success, their ability to execute strategy, their ability to learn from their own mistakes and those of others.... Management has been criticised heavily here for the cash burn involved in running the company and many here are very critical of them selling CardioCel directly into key markets rather than doing it through a 3rd party which would have been the much cheaper/easier option. This has never been a criticism of mine. For those who have criticised that approach in the past this paragraph from the lengthy story may be of interest (it also shows management's ability to learn from the mistakes of others...)

Admedus had learned invaluable advice from the experiences of sleep apnea company ResMed Inc. when broaching EU and US market entry with CardioCel. The US company had used a distributor model, which did not function, and so was halted, and distributors were acquired as the company built its own sales teams. But that error cost it three years in poor sales.


Another lesson the folk at Admedus have learned from the mistakes of others is the importance of gaining credibility for the product's excellence through word of mouth spread by the world's best practitioners, the leaders in their respective fields....

Its work with surgeons in Australia has given it very strong advocates. Christian Brizard, MD, of the Royal Children’s Hospital in Melbourne, is one. He was among the first clinicians to use CardioCel, and Admedus is able to benefit from his peer-to-peer networking. Another is Tom Karl, MD, formerly at the Mater Hospital, Brisbane, now at the All Children's Hospital, Johns Hopkins, St. Petersburg, FL, who was the first surgeon to get special access.
Other advocates include T. Sloane Guy, MD, from Temple University, Philadelphia, PA, who is a strong advocate for the use of CardioCel in valves; Domenico Mazzitelli, MD, from the Berlin Heart Institute, who is a thought leader in the TAVR market; and the likes of J. Scott Rankin, MD, at Vanderbilt University. Peer-to-peer contact is very important, as surgeons are a cautious and conservative group as a rule.
Commercial partnerships are also very important for evolving, growing, specialist health care companies. “For instance, as part of our relationship with GenPharm, they’ll do regional training days with surgeons,” says Chick.

Management are doing a wonderful job in introducing CardioCel to the world and they are making great progress in getting it into the world's best centres (110+ and counting) and being used by the world's best surgeons. Where they have fallen flat in the past is narrating the story and its developments in a more clear and thorough way to investors and prospective investors. I hope they will learn from this mistake and in future do more promotional work to these groups in the form of newsletters, webinars and more detailed analysis in quarterlies. Tomorrows efforts are a good start and I hope a taste of things to com