Cryolife Opens Wallet Again In Quest For High Growth, High Margin Potential Cardiovascular Devices

In short

It’s only a month or so since tissue processing and medical device company Cryolife coughed up $22M to acquire Cardiogenesis Corporation. Now the Atlanta based company has announced that it is to acquire Hemosphere Inc., manufacturer of the HeRO® Graft, considered to be Standard of Care in establishing permanent access for catheter dependent haemodialysis patients. The deal, which is worth $17M with a further $4.5M in potential milestone payments is expected to be finalised in May.

Company comments

Steven G. Anderson, president and chief executive officer of CryoLife, said, “The acquisition of Hemosphere significantly advances our strategic initiative to reposition CryoLife’s product portfolio with higher growth, higher margin medical devices for cardiac and vascular surgery. We believe there is a significant opportunity for our sales team to leverage their strong relationships with vascular surgeons, many of whom already use our preserved human veins and arteries to provide arteriovenous (AV) access for ESRD patients, to introduce and to expand utilization of the HeRO Graft in the U.S. In addition, we believe that potential product enhancements and international sales represent incremental HeRO Graft growth opportunities.”

Source: Cryolife Inc