CryoLife Inc. (NYSE:CRY) announced that it received CE Mark approval for the On-X ascending aortic prosthesis (AAP) for treating native or prosthetic heart valves in the aortic position involving an ascending aortic aneurysm. The approval allows for resumed distribution of the On-X AAP in Europe, as the product has been off the market there since late […]
On-X Life Technologies
CryoLife accuses On-X Life Technologies of fraud in counterclaim over $10m escrow account
CryoLife Inc. (NYSE:CRY) answered accusations from acquisition On-X Life Technologies that it’s trying to hold on to a $10 million escrow account from their merger last year with fraud charges of its own. CryoLife paid $130 million for On-X in January 2016, including the escrow account, which was meant to cover “On-X’s indemnification obligations relating to its representations and warranties in […]
On-X Life Technologies shareholders sue CryoLife over $10m escrow account
The shareholders of On-X Life Technologies yesterday accused CryoLife Inc. (NYSE:CRY) of trying to hold on to a $10 million escrow account connected with their merger last year. CryoLife paid $130 million for On-X in January 2016, including the escrow account, which was meant to cover “On-X’s indemnification obligations relating to its representations and warranties in the merger agreement,” […]
CryoLife closes $130m On-X Technologies buyout
CryoLife Inc. (NYSE:CRY) said yesterday that it closed its play for the mechanical heart valve space, the $130 million acquisition of On-X Life Technologies. On-X makes an aortic valve replacement and is developing a mitral chord repair device called Chord-X. The Austin, Texas-based company put up sales of about $33 million last year. The deal called for […]
CryoLife in $130m deal to enter valve market with On-X Life Technologies buy
CryoLife Inc. (NYSE:CRY) made a big play yesterday for the mechanical heart valve space with a $130 million deal to buy On-X Life Technologies. On-X makes an aortic valve replacement and is developing a mitral chord repair device called Chord-X. The Austin, Texas-based company put up sales of about $33 million last year, CryoLife said. The deal calls […]
On-X Life Technologies launches mitral valve chord repair system
On-X Life Technologies said it’s launching Chord-X, a new mitral valve chordal repair system using the company’s proprietary sutures.