CryoLife (NYSE:CRY) announced today that it will acquire Ascyrus Medical and its Ascyrus Medical Dissection Stent.
The financial terms of the deal were not disclosed.
AMDS is an aortic arch remodeling device used for the treatment of acute type A aortic dissections. The acquisition will strengthen CryoLife’s position in the growing aortic repair market, according to company officials.
“We believe the addition of the AMDS to our product offerings will make a meaningful contribution to our future growth as it gives us immediate access to the combined $100+ million EU and Canadian markets and has the potential to expand our worldwide addressable market by approximately $540 million,” CryoLife CEO Pat Mackin said in a news release.
“AMDS is another highly differentiated device that, when included in our commercial channel, will further solidify our position as a global leader in aortic repair, as it will immediately strengthen our highly competitive product portfolio in Europe.”