US-based cardiac and vascular surgery company CryoLife has acquired Ascyrus Medical in a deal valued at up to $200m.

The deal includes an $80m upfront payment, consisting of $60m in cash and CryoLife common stock worth $20m.

The acquisition forms part of CryoLife’s strategy to expand presence in the aortic repair market.

Ascyrus is a privately held developer of the aortic arch remodelling device, called Ascyrus Medical Dissection Stent (AMDS), used in the treatment of acute Type A aortic dissections.

Additionally, the deal presents significant cross-selling opportunities for the company with its existing JOTEC portfolio, BioGlue and On-X.

CryoLife CEO, president and chairman Pat Mackin said: “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 $100m EU and Canadian markets and has the potential to expand our worldwide addressable market by approximately $540m.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“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.”

In March, CryoLife obtained the CE Mark for its hybrid stent graft system, E-vita Open NEO, for the treatment of aortic arch disease.

In a separate development, medical contract manufacturer Medbio has acquired Polymer Conversions (PCI).

PCI is a full-service medical device contract manufacturer, which focuses on complex thermoplastic injection moulding and value-added assembly.

The financial terms of the deal were not disclosed.