ATLANTA, Oct. 4 /PRNewswire-FirstCall/ -- CryoLife, Inc. (NYSE: CRY), an implantable biological medical device and cardiovascular tissue processing company, announced today that it has appointed David P. Lang as vice president of market development for CryoLife International Inc. In this newly created position, Mr. Lang will have responsibility for coordinating and developing the international marketing and distribution strategies for PerClot, a novel hemostatic agent that the Company recently licensed from Starch Medical Inc. Mr. Lang will report to Gerald B. Seery, senior vice president sales and marketing and president, CryoLife International, Inc.
A graduate of Harvard University with a degree in economics, Mr. Lang began his career at Medtronic in 1970 and has held sales and marketing positions of increasing responsibility throughout his medical device marketing and management career. From 2008 to 2010, Mr. Lang served as the president and was a consultant to Starch Medical Inc. He served as vice president of international sales and marketing for Medafor, Inc. from 2001 to 2008, where he established their European, Latin American and Asian distribution networks.
"We are pleased to welcome David, an experienced international sales and marketing executive, to CryoLife's international management team. David brings a wealth of experience in the medical device industry to the Company, and has a proven track record of success in developing international markets and distribution networks for hemostatic agents. He is certain to make a significant contribution to our success in rolling out PerClot," said Steven G. Anderson, president and chief executive officer. "The expansion of our international product portfolio to include the PerClot technology platform and its complementary delivery devices and the addition of David to our international sales and marketing team support our strategy of becoming a global provider of advanced surgical adhesives and glues."
David Lang also served with distinction as a Captain, Special Services Officer, 8th Infantry Division (Airborne) in Bad Kreuznach, Germany from 1968-1970 and the 205th Infantry Brigade (Reserve) in Minneapolis from 1971-1973.
About CryoLifeFounded in 1984, CryoLife, Inc. is a leader in the processing and distribution of implantable living human tissues for use in cardiac and vascular surgeries throughout the U.S. and Canada. The Company's CryoValve® SG pulmonary heart valve, processed using CryoLife's proprietary SynerGraft® technology, has FDA 510(k) clearance for the replacement of diseased, damaged, malformed, or malfunctioning native or prosthetic pulmonary valves. The Company's CryoPatch® SG pulmonary human cardiac patch has FDA 510(k) clearance for the repair or reconstruction of the right ventricular outflow tract (RVOT), which is a surgery commonly performed in children with congenital heart defects, such as Tetralogy of Fallot, Truncus Arteriosus, and Pulmonary Atresia. CryoPatch SG is distributed in three anatomic configurations: pulmonary hemi-artery, pulmonary trunk, and pulmonary branch. The Company's BioGlue® Surgical Adhesive is FDA approved as an adjunct to sutures and staples for use in adult patients in open surgical repair of large vessels. BioGlue is also CE marked in the European Community and approved in Canada and Australia for use in soft tissue repair. The Company's BioFoam™ Surgical Matrix is CE marked in the European Community for use as an adjunct in the sealing of abdominal parenchymal tissues (liver and spleen) when cessation of bleeding by ligature or other conventional methods is ineffective or impractical. CryoLife currently distributes HemoStase®, a hemostatic agent, in much of the U.S. for use in cardiac and vascular surgery and in many international markets for cardiac, vascular, and general surgery, subject to certain exclusions, although CryoLife has received notice from Medafor that it has terminated its HemoStase distribution agreement with CryoLife.
Statements made in this press release that look forward in time or that express management's beliefs, expectations or hopes are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include those regarding the success of the roll out of PerClot. These future events may not occur as and when expected, if at all, and, together with the Company's business, are subject to various risks and uncertainties. These risks and uncertainties include that the roll out of PerClot may be unsuccessful or that market acceptance of PerClot may take longer than expected. Other hemostatic agents exist in the market place and additional competing products may be developed, and our customers and distributors may ultimately choose other products similar to PerClot. Also, prior to our agreement with Starch Medical, the primary hemostatic agent that we distributed was HemoStase, and it may take longer than expected for the market to recognize our addition of PerClot to the array of hemostatic products that we distribute. Medafor, Inc., manufacturer of HemoStase, recently terminated our distribution agreement with it, and Medafor's actions may exacerbate any confusion in the market regarding our distribution of hemostatic products and our customers and distributors may lose confidence in our ability to effectively distribute hemostatic products, including PerClot, and cease purchasing from us. CryoLife's business is also subject to a number of risks and uncertainties, including the risk factors detailed in our Securities and Exchange Commission filings, including our Form 10-Q filing for the quarter ended June 30, 2010, our Form 10-Q filing for the quarter ended March 31, 2010 and our Form 10-K filing for the year ended December 31, 2009, and the Company's other SEC filings. The Company does not undertake to update its forward-looking statements.
For additional information about the company, visit CryoLife's Web site:
http://www.cryolife.com.Media Contacts:D. Ashley LeeExecutive Vice President, Chief Financial Officer andChief Operating OfficerPhone: 770-419-3355Nina DevlinEdelmanPhone: 212-704-8145
|SOURCE CryoLife, Inc.|
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