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

saction-related charges, and expected benefits relating to the Cardiogenesis acquisition, including that the acquisition will position CryoLife as the leader in surgical products used to treat patients with severe angina and will help expand its products for cardiac surgery, the acquisition will enable CryoLife to extend its product offerings reach, CryoLife will be able to fully cross-train CryoLife and Cardiogenesis representatives to promote the full range of both companies' cardiac surgery products and services, CryoLife's global presence can further strengthen and enhance Cardiogenesis' international growth, CryoLife's international sales and marketing network can accelerate Cardiogenesis' growth more rapidly in key international markets, the successful delivery of biologic materials, such as stem cells, in conjunction with Cardiogenesis' TMR devices will make CryoLife a leading participant in the treatment of chronic myocardial ischemia, the implication that CryoLife may be able to initiate clinical trials to evaluate TMR in conjunction with bone marrow derived stem cell therapy to treat patients with severe refractory angina, and that FDA approval may ultimately be obtained following such clinical trials, revenue from the Cardiogenesis product line will be between $4.0 million and $5.0 million in 2011, which primarily reflects disposable hand piece and service revenues, and anticipated charges related to the Cardiogenesis acquisition and business development activities in 2011.  These risks and uncertainties include that future results of TMR use and testing may not be consistent with prior outcomes, the estimated current market potential for TMR and the U.S. market potential that might exist if biologic materials are delivered in conjunction with TMR may be lower than anticipated and there is no guarantee that CryoLife will be able successfully to sell to the entire U.S. market or that other competitors will not develop and market products and services
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SOURCE CryoLife, Inc.
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