Brisbane, Australia 28th February 2017
- Approval in Saudi Arabia expands access to key Middle East and North Africa (MENA) market
- Initial sales received for CardioCel® cardiovascular bio-scaffold product
Admedus (ASX: AHZ) today announced, in collaboration with its regional partner Genpharm, that the Company has received approval for CardioCel® in Saudi Arabia. This extends the approval of Admedus’ regenerative tissue bio-implant used in repairing heart defects in MENA and will increase sales in the region.
“This is the most significant approval for Admedus and our partners Genpharm in this key strategic
Mr Wayne Paterson, CEO Admedus.
Saudi Arabia is one of the largest and fastest growing healthcare markets in the Middle East, with a population of over 32 million people and a CAGR of 11% from 2015 with expected healthcare expenditure rising to $27Bn by 20201.’
Approval in Saudi Arabia will expand sales in the region for Admedus and Genpharm, all the more important with cardiovascular disease being the main cause of mortality in Saudi Arabia. Admedus and Genpharm have been working closely with key paediatric cardiac surgeons in Saudi Arabia where there is high motivation to offer children the significant clinical benefits that CardioCel® can offer.
“We continue to expand the MENA region and this is another significant milestone for the Admedus–Genpharm partnership and for patients and surgeons alike in the
Mr Karim Smaira, Managing Director Genpharm.
About Admedus Limited
Admedus (ASX: AHZ) is a specialist healthcare company. Our focus is on investing in and developing next generation technologies with world class partners, acquiring strategic assets to grow product and service offerings and expanding revenues from our existing, profitable medical sales and distribution business. The company has assets from research & development through clinical development as well as sales, marketing and distribution. Admedus has commercialised its innovative tissue engineering technology for regenerative medicine in four continents. We also have a major interest in developing the next generation of vaccines with a Brisbane-based research group led by Professor Ian Frazer. The vaccine programmes target disease with significant global potential, such as Herpes and Human Papillomavirus.
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