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Admedus appoints experienced finance executive as interim CFO

Matthew McDonnell served more than 24 years at KPMG, including 10 years as a partner.

Working an abacus
Admedus has developed heart valve technology and has an immunotherapy business

Admedus Limited (ASX:AHZ) has appointed experienced finance executive and former KPMG partner Matthew McDonnell as its interim chief financial officer.

With more than 24 years at KPMG, including 10 years as a partner, McDonnell brings a broad range of industry experience and corporate governance acumen to Admedus, which is currently voluntarily-suspended.

Appointment welcomed

McDonnell’s experience will be welcomed by Admedus as he has delivered audit, accounting and advisory services across a wide range of sectors.

READ: Admedus reports $6.3 million revenues amid $12.7 million Star Bright backing

Admedus CEO Wayne Paterson said, “I am very pleased to welcome a manager of Matthew’s calibre to our executive team.

“His presence in the management team will add significant value to the strategic finance process.

“Matthew’s multi-industry global experience will help us execute our capital management strategy as we enter our next phase of growth and development.

“Being highly skilled in governance, managerial finance, technical accounting matters and risk management, Matthew’s input will bring enormous advantage to Admedus and its shareholders, as we continue to grow global sales of our ADAPT® portfolio and advance our product development program.”

READ: Admedus appoints Steve Denaro to the board

At KPMG, McDonnell worked in Australia and the US, covering financial services, transport, industrial markets, health, childcare and energy.

The chartered accountant who holds a Bachelor of Economics from Macquarie University in NSW, has experience in restructures, acquisitions, divestments, privatisations and other significant financial transactions.

McDonnell was notably involved in Queensland Government restructures and privatisations; Linc Energy’s re-listing on the Singapore Exchange; and acquisitions such as Virgin Australia’s purchase of Skywest.

He is also director of the State Library of Queensland and was chair of the Audit and Risk Management Committee for eight years.

READ: Admedus completes placement to strategic cornerstone investor Star Bright Group

Admedus is a medical technologies company delivering clinical solutions that help healthcare professionals create life-changing outcomes for patients.

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ASX:AHZ
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