Admedus Ltd (ASX:AHZ) has renewed its exclusive distribution agreement with Utah-based Summit Medical Products Inc for a further eight years.
The updated arrangement confirms the long-standing relationship between the two companies, which began in 2007, and secures a key component of Admedus’ infusion supply chain.
Under the terms of the extended agreement, Admedus remains the exclusive distributor of Summit’s ambIT® infusion products in Australia and New Zealand until 2026.
The range of ambIT infusion pumps are suitable for the delivery of medications and pain relief.
Admedus head of infusion Glenn Gilchrist said: “Admedus has enjoyed a long and successful partnership with Summit Medical and we are delighted to renew this commitment for another eight years.
“Our team is proud to represent Summit’s range of innovative ambIT products that deliver better outcomes for patients and add significant value to our infusion portfolio.”
READ: Admedus has capital raising news imminent, granted ASX trading halt
The company’s shares are in trading halt since August 2, 2018, pending news of a capital raising.
Admedus expects the suspension to last until the earlier of the commencement of normal trading on August 13, 2018, or the release of an announcement by the company.
READ: Admedus signs exclusive distribution agreement in Italy for its unique heart tissue product
Last month, the company signed an exclusive distribution agreement with Medical Instruments S.p.A. to market and distribute its clinically-superior ADAPT® technology in Italy.
Under the agreement, Medical Instruments will initially distribute Admedus’ non-toxic and non-calcifying flagship ADAPT bio-scaffold CardioCel®.
The bio-scaffold is used to repair congenital heart deformities and more complex heart defects. It is also used to reconstruct dysfunctional heart valves and valve leaflets.