Australia  

Celebrating 10 Years of Trusted News Discovery
One News Page
> >

Admedus divesting non-core business; to focus on ADAPT product portfolio

Proactive Investors Monday, 13 May 2019
Admedus Ltd (ASX:AHZ) has entered into an agreement to sell part of its Infusion business to a subsidiary of BTC Health Ltd (ASX:BTC) for $6.3 million. This will complete the first phase of the Infusion business divestiture. Completion of the sale is subject to certain conditions being satisfied with the sale expected to complete in late May 2019.   Admedus generated $11 million in revenue from its ADAPT® products in 2018, and has steadily been reducing the selling, general and administration costs relative to revenue, as global sales of the ADAPT® product portfolio increases. The spin-off of Infusion will allow the company to pursue its global growth strategy to focus the business on the commercial growth and development of ADAPT®. Once the transaction is complete, Admedus’ headcount is expected to reduce by about 19%. Phase I of the Infusion divestiture is part of the overall company restructuring plans that are underway. READ: Admedus to spin-off immunotherapies business; shares surge Admedus managing director and CEO Wayne Paterson said: “The restructure will enable us to improve working capital management and reduce cash burn through reduction in headcount and focus on the ADAPT® portfolio - which is delivering revenue growth and offers significant potential for future value creation as we grow global sales and advance the TAVR device into human clinical trials.”
0
shares
ShareTweetSavePostSend
 
Credit: FOX 47 News Michigan - Published < > Embed
News video: Market Your Business In A New Way: Attend Our Morning Blend Event

Market Your Business In A New Way: Attend Our Morning Blend Event 00:30

Are you interested in a way to put the spotlight on your business? The FOX 47's Morning Blend is the perfect way to do just that. Come to the Morning Blend event that we are having on Tuesday, May 21 at Celebration Cinema (Studio C) in Okemos . Meet Bob Hoffman and new co-host Deb Hart.

Recent related videos from verified sources

Banking on Business: Liberty Capital Group helps with Cash in Advance for your business [Video]Banking on Business: Liberty Capital Group helps with Cash in Advance for your business

Banking on Business: Liberty Capital Group helps with Cash in Advance for your business

Credit: ABC 10 News | San Diego     Duration: 02:30Published

How To Get Ready For America's Next Major Recession [Video]How To Get Ready For America's Next Major Recession

As America comes to the end of one of the longest periods of economic growth, experts are certain a recession is coming within the next 12 to 18 months. But according to Business Insider, Harvard..

Credit: Wochit News     Duration: 00:42Published

'Shark Tank' Investors Share Important Advice for Small-Town Business Owners [Video]"Shark Tank" Investors Share Important Advice for Small-Town Business Owners

Since its television debut, 'Shark Tank' has helped small-business owners achieve success through their various investments. However, it takes more than just money to make a business work. Here are..

Credit: GOBankingRates     Duration: 01:24Published

Elon Musk says Tesla may venture into mining business [Video]Elon Musk says Tesla may venture into mining business

Tesla CEO Elon Musk said it might enter the mining business to ensure it can make enough batteries. According to Business Insider, this would help the company expand its product lineup. He said:..

Credit: Rumble     Duration: 00:32Published

Elon Musk Says Tesla May Venture Into Mining Business [Video]Elon Musk Says Tesla May Venture Into Mining Business

Tesla CEO Elon Musk said it might enter the mining business to ensure it can make enough batteries. According to Business Insider, this would help the company expand its product lineup. He said:..

Credit: Wochit     Duration: 00:32Published

Women Business Leaders Inspiring Mid Michigan: Katie Hamilton [Video]Women Business Leaders Inspiring Mid Michigan: Katie Hamilton

Women Business Leaders Inspiring Mid Michigan: Katie Hamilton

Credit: FOX 47 News Michigan     Duration: 02:14Published

Women Business Leaders Inspiring Mid Michigan: Shannon Schlegel [Video]Women Business Leaders Inspiring Mid Michigan: Shannon Schlegel

Women Business Leaders Inspiring Mid Michigan: Shannon Schlegel

Credit: FOX 47 News Michigan     Duration: 02:20Published

Goldman Sachs Says Uber's Business Model Is Still Risky [Video]Goldman Sachs Says Uber's Business Model Is Still Risky

According to Business Insider, Uber analysts at Goldman Sachs are bullish on the ride-hailing company. Goldman Sachs think its business model is a key risk in and of itself. The regulation of..

Credit: Wochit Business     Duration: 00:32Published

You Might Like


Other recent news in Business

Motor racing - Alonso takes second LE MANS win and title with ToyotaLabor questions PALADIN contract extension
Power outage cripples ARGENTINA AND URUGUAY, 48 million affectedIndonesian seaweed farmers seek $200 million over oil spill in AUSTRALIA
Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2019 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? FeedbackSend us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest
One News® is a registered trademark of One News Page Ltd.