Admedus deals vaccines biz to Constellation Therapeutics

AdmedusAdmedus (ASX:AHZ) said today that it agreed to sell its vaccines business to Constellation Therapeutics in a deal that will see it own nearly 30% of the Chinese company.

Other shareholders in the vaccines would own another 11%, Queensland, Australia-based Admedus said. Sun Bright Holdings will own the remainder and put in $18 million until November 2022, in five $3.6 million installments pegged to “certain milestones,” the company said. Failure to pay an installment would trigger the conversion of 12% of Constellation shares to the Admedus bloc of vaccine business shareholders. Admedus CEO Wayne Patterson is slated to become chairman of Constellation Therapeutics as part of the transaction.

Last month Admedus won CE Mark approval in the European Union for its CardioCel 3D and VascuCel products.

Admedus wins CE Mark for CardioCel 3D, VascuCel products

Admedus

Admedus (ASX:AHZ)  has won CE Mark approval in the European Union for its CardioCel 3D and VascuCel products which use its proprietary Adapt tissue technology, according to a report from ProactiveInvestors.

The Australian company plans to begin the first stage of a commercial launch of the devices in the region later this month, according to the report.

“After our initial positive experience with Adapt we are excited to have the choice of these 3D shaped products that will produce better reconstructions for complex aortic arch repair surgeries,” Dr. Tomasz Mroczek said, according to ProactiveInvestors.

“Obtaining CE Mark approval for the 3D portfolio is a further endorsement of the medical need and effectiveness of our 3D shaped collagen bioscaffold; a world first technology with proven anticalcification properties and zero DNA. Today’s approval of the 3D portfolio in Europe further reinforces the company’s focus on global strategic growth with geographic expansion into key markets and portfolio expansion of Adapt tissue technology products,” CEO Wayne Patterson said, according to the report. “The 3D single piece aortic valve is unique in the industry and forms the backbone of the company’s TAVR developmental project which has been expedited. We have now confirmed that human clinical trials will commence earlier than planned, and the development project has already generated great interest within the global medical community as the Adapt portfolio of products expand from mainly pediatric use to a wider patient population in the future.”

In June 2017, Admedus CEO Wayne Patterson spoke to MassDevice.com about his efforts to shift the company away from trends of overspending and towards profitability.

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Medtronic expands paid family leave benefits for US employees | Personnel Moves – May 1, 2018

Medtronic (NYSE:MDT) today announced expanded paid family leave benefits which the company says will “allow for greater employee flexibility while balancing work and family priorities.”

The new benefits, which went into effect today, cover full and part-time US employees and allow for a “wide range of family care leave needs,” the Fridley, Minn.-based company said. These include time spent with a new child, caring for sick family members or caring for family after a spouse, child or parent is called to active military duty.

“These expanded benefits support our employees and their families in various life stages and make it possible for employees to dedicate their full attention to the people who matter most when needed,” chair & CEO Omar Ishrak said in a prepared statement.

The policy will allow up to six weeks away from work, and comes in addition to maternity benefits for birth mothers. With the addition, when combined with accrued paid time off, a new mother could take leave of up to 18 weeks paid at 100% for the duration, Medtronic said.

The company had previously offered five to seven weeks of paid leave for birth parents and one week for non-birth parents, and four weeks for compassionate leave to care for a terminally ill family member.

“We listened closely to what our employees were saying, and the needs they described. We believe we have created a benefit that goes well beyond current practice in the U.S. and affords Medtronic employees the valuable time they need with their families at critical times in their lives,” chief human resource officer Carol Surface said in a press release.

Medtronic said that currently the policy applies only to regular US employees, but that it is evaluating country-specific employment laws and regulations to “determine opportunities for additional policy changes to apply outside the United States.”

 Becton Dickinson appoints 3 new segment heads

Becton Dickinson (NYSE:BDX) last week announced three new segment president appointments, tapping Alberto Mas to head its medical segment, Patrick Kaltenbach as prez of its life sciences segment and Bill Tozzi as its interventional segment interim prez.

Mas’ appointment will take effect May 29, the Franklin Lakes, N.J.-based company said. Mas will leave behind his previous position as life sciences segment head, which Kaltenbach will take over on May 29. Mas has previously served as prez of diagnostic systems, biosciences and medical surgical systems.

“Alberto is a proven leader who has excelled at every position he’s held at BD. He is the right leader for our largest segment, and I have full confidence he will continue to drive our growth and innovation strategy across the medical segment,” BD prez Tom Polen said in a prepared statement.

Kaltenbach is being lifted to life sciences head from his previously position as Agilent senior VP and life sciences and applied markets group prez, which he held since 2014.

“Attracting an industry leader of Patrick’s caliber to BD is a testament to our life sciences strategy and the segment’s progress toward becoming a transformative partner from discovery to diagnosis. Patrick brings a unique combination of deep experience and knowledge within the life sciences industry and a passion for creating value through innovation and technology. We are pleased to have his leadership as we continue to advance our life sciences Segment,” Polen said in a prepared release.

Tozzi previosly served as integration leader for its acquisition of C.R. Bard (NYSE:BCR), which closed last December. Prior to acting as integration leader, Tozzi acted as medication and procedural solutions prez for six years. Tozzi will replace John Groetelaars who is leaving the interventional segment prez position for an executive position at another company.

“Bill is a seasoned BD executive with a strong track record of success and deep integration experience. Together with the strong interventional segment leadership team driving the business, I am confident we are well positioned to fulfill our potential as a combined company. I would also like to thank John for his dedication and leadership to Bard and BD. I know that everyone at BD wishes him much success in the next chapter of his career,” Polen said in a press release.

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 Minnetronix taps Lindsoe as CFO

Minnetronix said today it named Elissa Lindsoe as its new chief financial officer.

Prior to joining the St. Paul, Minn.-based company, Lindsoe served as SFO of Minnesota-based global manufacturing company Mocon, where she aided the company in its sale to Ametek. Lindsoe served as an independent consultant supporting the transition after the sale, Minnetronix said.

“We look forward to welcoming Elissa to the Minnetronix team at such an important and dynamic time in our company’s history. She is a proven and accomplished leader who will play an instrumental role in providing financial vision, strategy and leadership as we expand and grow our position in the market,” prez Jeremy Maniak said in a press release.

“Minnetronix is a unique company with an equally unique opportunity to accelerate its impact on the medical device market. I am looking forward to being part of a company with such a bright future and a compelling mission,” Lindsoe said in a prepared statement.

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 Zeus Industrial names Peterson as prez

Zeus Industrial Products said today it named Steve Peterson as its new president.

Prior to moving to the president position, Peterson operated as global head of marketing and sales and senior VP, the Orangeburg, S.C.-based company said. Peterson will report directly to CEO John Winarchick.

Before joining Zeus Industrial Products, Peterson held leadership positions with TE Connectivity, Samsung Electronics (LON:BC94) and General Electric (NYSE:GE).

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 Admedus appoints Oswell as development VP

Admedus (ASX:AHZ) said today it appointed Michael Oswell to the newly created role of development VP, effective May 15.

In the position, Oswell will be responsible for product pipeline acceleration, including 3D surgical solutions and the company’s transcatheter aortic valve replacement project.

Prior to joining Admedus, Oswell held leadership roles with Boston Scientific (NYSE:BSX) and its Guidant subsidiary, as well as Medtronic. His most recent position was as senior program manager at Medtronic’s cardiac rhythm and heart failure operations.

“Michael has a strong track record as a results-driven leader in the medtech environment. He will be an excellent addition to the Admedus leadership team and his technical skill and experience will be an enormous advantage as we look to progress our range of new products in our development pipeline. His background in product development for some of the leading companies in the medtech industry will bring invaluable new perspective to our portfolio of development projects,” CEO Wayne Paterson said in a press release.

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