Australia's Admedus surges on sale of patch business to U.S.-based LeMaitre

LeMaitre Vascular

14/10/2019 01:06

** Shares of medical device maker Admedus Ltd  AHZ.AX  rise
as much as 40% to A$0.084, marking their biggest intraday
percentage gain since March 11
    ** Co resumes trading after being on a voluntary suspension
since April 15
    ** Announces sale of CardioCel and VascuCel patch businesses
to U.S.-based LeMaitre Vascular Inc  LMAT.O  for up to A$36.2
mln ($24.59 mln)  urn:newsml:reuters.com:*:nFWN26W0QT
    ** AHZ to retain manufacturing rights for up to 3 years and
will continue making the patches at its Western Australian 
facility for LeMaitre
    ** Stock at its highest level since April 10
    ** Shares down 3.2% this year as of last close

($1 = 1.4721 Australian dollars)

 (Reporting by Anushka Trivedi in Bengaluru)
 ((Anushka.Trivedi@thomsonreuters.com; +918067491413;))