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Polishing prosthetics in a major medical export deal.

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Media Release The Hon Ian Macfarlane, MP

26 July 2006

POLISHING PROSTHETICS IN A MAJOR MEDICAL EXPORT DEAL Innovative Australian medical devices company, Advanced Surgical Design and Manufacture (ASDM), has signed a lucrative export deal for its partial knee prosthesis with one of the world's largest orthopaedic manufacturers.

Australian Industry Minister, Ian Macfarlane today congratulated ASDM on the deal with Stryker which opens the doors on a global partial knee replacement market worth $200 million through Stryker's world-wide sales.

"With the help of a $1.9 million R&D grant from the Australian government, ASDM has developed a cutting edge polishing technology that is used in its knee replacement prosthesis," said Mr Macfarlane.

"The company's significant export deal now recognises the value of that innovative Australian technology and its potential for improving the quality of life for many thousands of people world-wide."

Mr Macfarlane congratulated ASDM on the Stryker contract while launching an Action Agenda for the medical devices industry at Cochlear in Sydney.

"The local medical devices industry brings in about $800 million a year and exports close to 90 per cent of all local production. But the industry now has a 13 point plan to grow that overseas niche market presence."

"The Action Agenda is a concrete plan to bring medical products to the market swifter and devise industry-wide strategies to build on the sector's ability to export into new markets."

"It's also a timely plan of action to explore ways of making the medical devices regulatory system more user-friendly, particularly as the industry transfers to a new regulatory system in October 2007," he said.

"The industry's own vision is for Australia to have a much expanded, internationally competitive medical devices industry, providing innovative, cost-effective health outcomes to the world by 2015," Mr Macfarlane said.

He thanked Dr Geoffrey Vaughan, the chair of the Strategic Industry Leaders' Group, and all those involved with the development of the Action Agenda.

Media Contact: Kirsty Boazman, 02 6277 7580 or 0412 171 444.