viewAnteris Technologies Ltd

Admedus Ltd announces settlement of Federal Court proceedings


Admedus Ltd (ASX:AHZ) has announced that it has reached a binding agreement to settle the proceedings that were commenced in the Federal Court by Dr Geoffrey Lane and Dr Keith Woollard (and entities associated with Mr Lane and Mr Woollard) on 7 November 2014, as noted in the company’s announcement on 12 November, 2014.

Wayne Paterson, chairman and interim CEO, said today: "On behalf of the board, I would like to thank the parties for resolving the proceedings.

"I am pleased with the outcome of the settlement which results in Admedus Ltd now owning 100% of the regenerative technology."

The settlement is in full and final resolution of the proceedings and is without admission of liability of Admedus.

The terms and conditions of the settlement agreement remain confidential; however settlement will have a minimal impact on the financial position of the company.

Paterson added: "While we were confident in our position in this matter, the settlement avoids the expense, distraction and uncertainty of a lengthy trial and enables Admedus Ltd to focus on growing the business and increasing shareholder value.

"The path to profitability is now even clearer with the successful resolution of the proceedings.

"Finalising this matter has cut short what was already a lengthy process. I consider the outcome to be fair and equitable to all parties with minimal impact to the balance sheet.

"With the uncertainty of litigation behind us, Admedus can continue to focus on profitable growth of its cardiovascular sales and regenerative product range without distraction.

"The company is on track to launch its vascular product VascuCel in November as well as expansion of its CardioCel product range."


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

Quick facts: Anteris Technologies Ltd

Price: 3.75 AUD

Market: ASX
Market Cap: $22.16 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Anteris Technologies Ltd named herein, including the promotion by the Company of Anteris Technologies Ltd in any Content on the Site, the...


Anteris Technologies CEO hails 'very good results' from DurAVR™ human study

Anteris Technologies Ltd's (ASX:AVR) Wayne Paterson caught up with Proactive's Andrew Scott soon after reporting that early results from its first-in-human study of its proprietary DurAVR™ aortic valve found that patient outcomes exceeded the results of what is normally expected following a...

on 19/10/20

2 min read