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CryoLife Announces Completion of Acquisition of Cardiogenesis
Date:5/17/2011

TMR to treat refractory angina, and surgical sealants and hemostatic agents to prevent and control bleeding.
  • Complementary programs: Cardiogenesis' experience with TMR products and relationships with leading cardiac surgery programs are a strong complement to CryoLife's valve replacement and reconstructive cardiac surgery franchise.
  • Increased direct selling organization:  The assimilation of Cardiogenesis' direct sales representatives will nearly double CryoLife's cardiac surgery specialist sales force in the U.S.  Once fully cross-trained, CryoLife and Cardiogenesis representatives will be able to promote the full range of both companies' cardiac surgery products and services.
  • International growth:  CryoLife's global presence can further strengthen and enhance Cardiogenesis' international growth.  Cardiogenesis currently does not have a presence in international markets.  CryoLife's international sales and marketing network, which reaches into approximately 70 countries, can accelerate Cardiogenesis' growth more rapidly in key international markets.
  • Large market potential: The successful delivery of biologic materials, such as stem cells, in conjunction with Cardiogenesis' TMR devices would make CryoLife a leading participant in the treatment of chronic myocardial ischemia.  Cardiogenesis has been in discussions with the Food and Drug Administration (FDA) regarding initiating a randomized, prospective clinical trial to evaluate TMR in conjunction with bone marrow derived stem cell therapy to treat patients with severe refractory angina.  

  • 2011 Financial Guidance

    With the completion of the Cardiogenesis merger, the Company now expects total revenues for the full year of 2011 to be between $122.0 million and $125.0 million, including revenues from the Cardiogenesis product line to be between $4.0 million and $5.0 million, which primarily reflects disposable hand pie
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    SOURCE CryoLife, Inc.
    Copyright©2010 PR Newswire.
    All rights reserved

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