Admedus sells cardio business for $36 million

Cardiovascular device manufacturer Admedus (ASX: AHZ) has sold the distribution rights to its CardioCel and VascuCel product range for $A36.2 million to LeMaitre Vascular Inc. The company, whose ADAPT engineering process produces implantable tissue bio-scaffolds for a range of cardiovascular and vascular applications, will receive $22.8 million in an upfront payment. the remainder will flow…

IMCRC powers manufacturing transformation

The Innovative Manufacturing Co-operative Research Centre is living up to its promise of driving industrial transformation, reporting $140 million worth of manufacturing research underway by June 30 this year. In its annual yearly highlights just released, CEO David Chuter reported a further $23 million of government cash had been invested alongside industry to create new…