CryoLife Inc. (NYSE:CRY) said last Friday it completed its previously announced $225 million acquisition of German stent graft and surgical graft maker Jotec
In the deal, Cryolife paid $168.8 million in cash and the remaining $56.26 million in shares of Cryolife. The acquisition was funded through the combination of a $225 million term loan and $30 million credit revolver, as well as cash on hand.
The deal, which was expected to close some time before the end of 2017, officially closed on December 1, according to a press release.
Jotec put up sales of roughly $48.5 million last year and $50.9 million for the 12 months ended June 30.
The company first announced plans for the acquisition of the surgical stent graft maker in early October.