MDBR Staff Author Printed 11 October 2017
Medical tool and tissue processing company CryoLife has decided to acquire Germany-based Jotec for around $225m.
According to the deal, CryoLife pays 75% in cash, additionally to issuing 25% of their common stock to Jotec shareholders.
Located in Hechingen, Jotec is involved in the event, production and marketing of medical devices for aortic and peripheral vascular disease.
Their product portfolio includes conventional vascular grafts and interventional implants for vascular and cardiac surgery and radiology and cardiology.
Its products include thoracic stent grafts, abdominal stent grafts and peripheral stent grafts, in addition to interventional accessories.
Additionally, Jotec’s surgical portfolio includes ePTFE vascular grafts and polyester grafts.
The acquisition allows CryoLife to grow its presence within the endovascular surgical market.
Susceptible to customary closing conditions, the offer is anticipated to accomplish later this season.
CryoLife president and Chief executive officer Pat Mackin stated: “Jotec includes a technologically differentiated product portfolio addressing the $2bn global marketplace for stent grafts utilized in endovascular and open repair of aortic illnesses.
“Their advanced product portfolio has permitted these to acquire a 17% revenue CAGR in the last 5 years, considerably outpacing the development within the overall European market.”
Jotec Chief executive officer Thomas Bogenschütz stated: “CryoLife is ideally positioned to accelerate adoption in our products through its highly complementary and global cardiac and vascular surgery business.”
Located in suburban Atlanta of Georgia, CryoLife produces, processes and distributes medical devices and implantable living tissues utilized in cardiac and vascular surgical treatments.
Image: CryoLife to get Germany-based Jotec. Photo: thanks to adamr / FreeDigitalPhotos.internet.