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…

Manufacturing decline leaves Australia in the third world of exporters

Analysis by Peter Roberts It is now official. Australia now has the economic diversity and export profile of a typical third world nation. Our antipathy to value-adding activities such as manufacturing in favour of industries that require little more than digging it up and shipping it out, has left us dangerously dependent on quarrying. According…