CryoLife Misses Q3 Revenues, Buys JOTEC

by | Oct 11, 2017 6:04 pm | Medical Devices | 0 comments

Third quarter earnings season is off to a bad start for Cryolife, Inc. (NYSE:CRY), maker of medical devices and tissue processing systems focused on cardiac and vascular surgery. CRY stock slumped on Wednesday, October 11, when the company reported Q3 revenues of $45.1 million, well below its previously announced guidance of $46.5 million to $47.5 million. Not even an acquisition turned the stock northward, and it stayed down about 16% throughout the day. On October 10, Cryolife announced the acquisition of German medical device developer JOTEC AG, which makes technologically differentiated endovascular stent grafts, and cardiac and vascular surgical grafts, focused on... Read More »

CryoLife Refocuses on Cardiac Surgery Devices

by | Feb 12, 2016 4:09 pm | Medical Devices | 0 comments

Acquisitions often lead to divestitures, and that’s just what happened when CryoLife Inc. (NYSE: CRY) paid $130 million for privately held On-X Life Technologies Holdings, Inc. in December 2015. The medical device maker also processes and distributes implantable human tissues for use in cardiac and vascular surgeries, while On-X Life specializes in mechanical heart valve replacements. That deal strengthened CryoLife’s focus on aortic and mitral valve surgery, as it more than doubled the size of its U.S. cardiac sales force. That made its Hemodialysis Reliable Outflow Graft (HeRO) product line less vital to its core business, and so the HeRO product line was sold to Merit... Read More »