AorTech Announces Update of Factory Move

RNS Number : 8013Y

AorTech International PLC

06 March 2012

 



For Immediate Release                                                 6 March 2012

AorTech Announces Completion of Major Elements of Factory Move

AorTech International plc ("AorTech" or "the Company") announces the completion of the major elements of its move from Melbourne, Australia to Rogers, MN.

In line with the 16 June 2011 announcement of this licence restructuring and asset purchase transaction, and later the 10 October 2011 announcement regarding commencement of production in the new Rogers, MN facility, this notice is to inform shareholders that all of the milestone payments related to the transaction and factory move have been invoiced and received by AorTech.

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For further information please contact:

AorTech International plc

Frank Maguire, Chief Executive Officer

Tel: + 1 801 201 4336

Sarah Price, Media Relations

Tel: + 1 801 649 4163

e-mail [e-mail]

Investec Investment Banking

Jeremy Ellis

Tel: [phone]

About AorTech:  AorTech develops and manufactures biostable, implantable polymers, including Elast-Eon™ and ECSil™, the world's leading long-term implantable co-polymers, as well as proprietary processing methods for various devices, including small part RIM manufacturing.  With more than 3 million implants and five years of successful clinical use, AorTech polymers are currently used in cardiology, orthopaedic, urological and gastroenterological applications, including pacing leads, cardiac cannulae and stents.  Devices manufactured from AorTech polymers have numerous US FDA PMA approvals, 510k's, CE Marks, Australian TGA and Japanese Ministry of Health approvals.

Elast-Eon™ and ECSil's™ biostability is comparable to silicone while exhibiting excellent mechanical, blood contacting and flex-fatigue properties. Our polymers can be processed using conventional thermoplastic extrusion and molding techniques. AorTech provides a range of materials in a variety of application-specific formulations for use in medical devices and components.

 

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