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Admedus raises $2.76 million from share purchase plan

Admedus is a medical technologies company with numerous catalysts on the horizon.
AHZ revenue split
Revenue is derived by the ADAPT® and Infusion business divisions

Admedus Ltd (ASX:AHZ) shareholders have subscribed for 9.2 million shares priced at 30 cents raising $2.76 million in funding under a share purchase plan (SPP).

The SPP follows a placement also priced at 30 cents in early-mid May which raised about $6 million.

SPP funds will help to facilitate further expansion and acceleration of its new product pipeline, including TAVR and the unique 3D shaped tissue portfolio.

READ: Admedus secures $6 million to expand medical technologies strategy

Transcatheter aortic valve replacement (TAVR) is where a valve is placed into the heart via a catheter (usually inserted through the leg) to replace the aortic valve, eliminating the need for open-heart surgery.

Admedus’ new TAVR device is designed to reduce the risks associated with the insertion and placement of the valve.

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Admedus Ltd Timeline

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