CryoLife Misses Q3 Revenues, Buys JOTEC

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

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 »