() has entered into an agreement to sell part of its Infusion business to a subsidiary of BTC Health Ltd () for $6.3 million.
This will complete the first phase of the Infusion business divestiture. Completion of the sale is subject to certain conditions being satisfied with the sale expected to complete in late May 2019.
Admedus generated $11 million in revenue from its ADAPT products in 2018, and has steadily been reducing the selling, general and administration costs relative to revenue, as global sales of the ADAPT product portfolio increases.
The spin-off of Infusion will allow the company to pursue its global growth strategy to focus the business on the commercial growth a…
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