Admedus Ltd (ASX:AHZ) has outlined a focus on driving sales of its lead regenerative tissue product CardioCel® in the valve repair market, and as a result the company will be attending several leading U.S. cardiovascular conferences.
These include the American Association for Thoracic Surgery (AATS) Aortic Symposium 2016 May 12-13 in New York, and the 96th AATS Annual Meeting taking place from 14 – 18 May in Baltimore, Maryland.
Lee Rodne, managing director, commented:
“CardioCel is fast becoming the surgeon-preferred material for reconstruction and repairs in the aortic and mitral valve repair market, with the product providing a genuine alternative for patients compared to bio-prosthetic valves.
"We believe CardioCel represents a disruptive technology and we are concentrating on building awareness of our product in this market."
The global market for cardiovascular disease is estimated to grow to USD $4.8 billion by 2020.
In the U.S., surgeons currently perform 106,000 heart valve operations each year.
Rodne added: “Admedus is focused on continuing to show the utility and benefits of CardioCel to patients and surgeons in the multibillion dollar heart valve market, expanding the use of CardioCel in the adult valve market and driving CardioCel sales globally.”
Admedus continues to progress its aortic valve reconstruction post-market study with several centres globally recruiting patients.
An update on the study is anticipated in the coming months.
The study is designed to further show the use of CardioCel in repairing aortic heart valves and its potential for improved patient outcomes compared to bio-prosthetic valves.
New York based Maxim Group has a buy recommendation on the company and a $2.00 price target.
Hong Kong based boutique investment bank Cedrus Investments have a fair value of A$1.95 per share by December 2018.
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