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Admedus Ltd appoints new CFO as part of move to Brisbane


Admedus Ltd (ASX:AHZ) has appointed Mark Ziirsen as chief financial officer as the company relocates its corporate services functions to Brisbane.

Ziirsen joins Admedus from Cochlear Ltd (ASX:COH), where he held the role of director of finance and I.T. for Asia Pacific for the past five years.

Wayne Paterson, interim CEO, commented: “Today’s announcement is regarded as both a significant and essential development for Admedus as we scale our business to meet the demands of all of Admedus’ stakeholders.”

Ziirsen will take over from current CFO and company secretary Stephen Mann, who is based in Perth. He will continue to work with Admedus through this transition until the end of the year.

Admedus is developing multiple revenue streams and building a global healthcare company through CardioCel heart valve patch sales, infusion product sales and its immunotherapy programs.

Admedus' flagship product is CardioCel®, a bio-engineered tissue scaffold to repair congenital heart defects, and expanding into the heart valve market.

The company is about to close a 1:9 fully underwritten rights issue to raise $8.3 million priced at $0.33.

The rights issue follows the recently completed placement of $10 million.


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Market: ASX
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