How To Restructure: Admedus Opts For A Restart
Admedus and its product mix was an unfolding success story – and still is, due to a restructuring of activities and a resetting of aims that have ensured the Australia-US tissue engineering company does not miss out on the opportunities it has crafted for itself. Chairman and interim CEO Wayne Paterson explains what changes were required and why.
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The ups, downs – and nearly outs – of ASX-listed health technologies manufacturer and distributor Admedus have made compelling reading in the past two years, but CEO Wayne Paterson has brought a competitive edge to a company that was lacking focus. Now he is looking to raise the bar again, aiming to use the company's proprietary Adapt patch technology in the TAVR space, while also pressing on with strategic plans for the therapeutic vaccines portfolio and adding scale.
A new deal with an aortic ring manufacturer, a change of chairman, a hike in the number of centers using its cardiovascular bioscaffold and plans to develop an aortic valve repair scaffold have attracted much attention to Admedus in the past six months. The Australian company’s immunotherapies platform is also advancing well, says CEO Lee Rodne.
There are not many companies whose R&D business model combines immunotherapies and a medtech cardio franchise, but for Australia’s Admedus it’s a plan that is working so far. And more original science could be added to the portfolio as the company moves increasingly away from its S&D roots.