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Admedus receives approval to sell CardioCel 3D® in Israel

CardioCel 3D® is used by surgeons to repair heart valves.

Admedus Ltd - Admedus receives approved to sell CardioCel 3D® in Israel
Admedus sold its infusion business in May 2019 to focus on its ADAPT® technology

Admedus Ltd (ASX:AHZ) has received regulatory approval for the sale of its CardioCel® 3D product portfolio in Israel.

CardioCel® 3D products are used by surgeons to repair heart valves and these products were created using the company’s ADAPT® technology.

Revenue from ADAPT® product sales totalled $5.7 million for the six months ended June 2019, 16.6% higher than the prior 2018 June half.

Admedus noted the overall growth was largely driven by ADAPT® sales in North America and included higher contract manufacturing sales under the 4C Technology Partnership Agreement.

The approval of the complete suite of CardioCel® 3D products allows Admedus to service a greater segment of this market.

Growing sales in the Middle East

Admedus’s CEO Wayne Paterson said: “The Middle East, which includes Israel, United Arab Emirates, Saudi Arabia and Kuwait, is one of the fastest-growing markets globally, and we are focused on gaining regulatory approvals for our complete 3D range and growing sales in this important region.

“We are pleased to offer surgeons and patients in Israel access to our CardioCel® 3D range which remains the first and only 3D-shaped bioscaffold on the market and offers the superior clinical benefits of the ADAPT® portfolio’s unique calcification resistance.”

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Market: ASX
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