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CryoLife Closes on $15 Million Credit Facility with GE Healthcare Financial Services
Date:3/31/2008

ATLANTA, March 31 /PRNewswire-FirstCall/ -- CryoLife, Inc. (NYSE: CRY) (the "Company"), a biomaterials, medical device and tissue processing company, announced it has entered into a credit facility with GE Healthcare Financial Services, which provides for up to $15 million in revolving credit for working capital, acquisitions and other corporate purposes. The credit agreement expires in March 2011, at which time the outstanding principal balance will be due.

Amounts borrowed bear interest at LIBOR or the lender's base rate, as defined, plus an applicable margin, and are secured by substantially all of the assets of the company and its subsidiaries. The credit agreement includes various covenants such as minimum EBITDA, customary conditions on incurring new indebtedness and limitations on cash dividends. For a discussion of the material terms of the credit agreement see our Form 8-K filed with the Securities and Exchange Commission on March 28, 2008.

"This credit facility further enhances the financial flexibility of the Company and allows us to continue to evaluate opportunities that create value for our shareholders," stated Steven G. Anderson, president and chief executive officer of CryoLife, Inc.

"We are extremely pleased to add CryoLife as a new customer," said Robert McCarrick, Senior Managing Director of Corporate Finance for GE Healthcare Financial Services. "Our financing expertise and strong balance sheet enabled us to quickly underwrite this transaction and will help CryoLife achieve its short- and long-term financing needs."

About CryoLife, Inc.

Founded in 1984, CryoLife, Inc. is a leader in the processing and distribution of implantable living human tissues for use in cardiac and vascular sur
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SOURCE CryoLife, Inc.
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