Attached files
| file | filename |
|---|---|
| 8-K - 8-K - CRYOLIFE INC | cryolife8k20210.htm |
| EX-99.2 - FREQUENTLY ASKED QUESTIONS - CRYOLIFE INC | cryolife8k20210ex992.htm |
EXHIBIT
99.1
N
E W S R E L E A S E
FOR
IMMEDIATE RELEASE
Media
Contacts:
D. Ashley
Lee
Executive
Vice President, Chief Financial Officer and
Chief
Operating Officer
Phone:
770-419-3355
Nina
Devlin
Edelman
Phone:
212-704-8145
CryoLife
Increases Stake in Medafor, Inc. to Approximately 11 Percent
ATLANTA, GA (February 2, 2010) --
CryoLife, Inc. (NYSE: CRY), an implantable biological medical device and
cardiovascular tissue processing company, announced today that it has purchased
approximately 740,000 additional shares of Medafor’s common stock from Medafor
shareholders for $2.00 per share. Based on the most recent
information available to CryoLife, the company now owns approximately 11 percent
of Medafor and continues to be Medafor’s largest
shareholder. CryoLife has proposed acquiring the remaining
outstanding common stock of Medafor for $2.00 per share in a combination of cash
and CryoLife stock, subject to completion of reasonable due
diligence.
With its
purchase of these additional shares of Medafor common stock, CryoLife now has
the right to call a special shareholders meeting pursuant to Medafor’s
bylaws. CryoLife remains committed to entering into friendly
negotiations with Medafor’s board and management; however, in the event that
Medafor’s board continues to delay, a special shareholders meeting would afford
CryoLife the opportunity to seek to replace the Medafor board in order to
maximize value for all Medafor shareholders. CryoLife received a
letter from Medafor’s board on January 22, 2010 that stated that Medafor’s board
was considering its options. CryoLife has not heard from Medafor’s
board since that communication.
“We
continue to believe that CryoLife has the resources and financial strength to
help maximize the potential of Medafor’s hemostatic technology and related
products for the benefit of shareholders and patients,” said Steven G. Anderson,
CryoLife’s chairman, president and chief executive officer. “We have
provided a full and fair proposal to Medafor to acquire the company and have
asked the Medafor board to engage in negotiations with us in order to realize
the greatest value for its shareholders. Our objective is still to
enter into a friendly negotiation with Medafor’s management and board and we
hope to hear from them soon. However, in the event that Medafor’s
board continues to drag its feet, we will evaluate all of our options including
the right to call a special shareholders meeting that our increased stake
affords us.”
Medafor
shareholders can find additional information about CryoLife and its proposal to
acquire Medafor at www.cryolife.com/medaforoffer.
ADDITIONAL
IMPORTANT INFORMATION
This
announcement is provided for informational purposes only and is not an offer to
purchase nor a solicitation of an offer to sell shares of Medafor or
CryoLife. Subject to future developments, CryoLife may file a
registration statement and/or tender offer documents and/or proxy statement with
the SEC in connection with the proposed combination. Shareholders
should read those filings, and any other filings made by CryoLife with the SEC
in connection with the combination, as they will contain important
information. Those documents, if and when filed, as well as
CryoLife’s other public filings with the SEC, may be obtained without charge at
the SEC’s website at www.sec.gov and at CryoLife’s website at
www.cryolife.com.
About
CryoLife, Inc.
Founded
in 1984, CryoLife, Inc. is a leader in the processing and distribution of
implantable living human tissues for use in cardiac and vascular surgeries
throughout the U.S. and Canada. The Company's CryoValve® SG
pulmonary heart valve, processed using CryoLife's proprietary SynerGraft®
technology, has FDA 510(k) clearance for the replacement of diseased, damaged,
malformed, or malfunctioning native or prosthetic pulmonary
valves. The Company’s CryoPatch® SG
pulmonary cardiac patch has FDA 510(k) clearance for the repair or
reconstruction of the right ventricular outflow tract (RVOT), which is a surgery
commonly performed in children with congenital heart defects, such as Tetralogy
of Fallot, Truncus Arteriosus, and Pulmonary Atresia. CryoPatch SG is
distributed in three anatomic configurations: pulmonary hemi-artery, pulmonary
trunk, and pulmonary branch. The Company's BioGlue®
Surgical Adhesive is FDA approved as an adjunct to sutures and staples for use
in adult patients in open surgical repair of large vessels. BioGlue
is also CE marked in the European Community and approved in Canada and Australia
for use in soft tissue repair. The Company's BioFoam®
Surgical Matrix is CE marked in the European Community for use as an adjunct in
the sealing of abdominal parenchymal tissues (liver and spleen) when cessation
of bleeding by ligature or other conventional methods is ineffective or
impractical. BIOGLUE Aesthetic™ Medical Adhesive
is CE marked in the European Community for periosteal fixation following
endoscopic browplasty (brow lift) in reconstructive plastic surgery and is
distributed by a third party for this indication. CryoLife
distributes HemoStase®, a
hemostatic agent, in much of the U.S. for use in cardiac and vascular surgery
and in many international markets for cardiac, vascular, and general surgery,
subject to certain exclusions.
For
additional information about the company, visit CryoLife’s Web
site:
www.cryolife.com.
END
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