Cryolife

Canaccord Genuity acts as financial advisor to CryoLife, Inc. on its acquisition of On-X Life Technologies Holdings, Inc.

Canaccord Genuity is pleased to announce that on December 22, 2015, CryoLife, Inc. (NYSE:CRY), a leading medical device and tissue processing company focused on cardiac and vascular surgery, announced it has entered into a definitive agreement to acquire On-X Life Technologies Holdings, Inc., a privately held mechanical heart valve company.  According to the terms of the agreement, CryoLife will acquire On-X for an upfront payment of US$130 million on a cash-free, debt-free basis, consisting of approximately 70% in cash and 30% in CryoLife stock.  CryoLife expects to finance the cash portion of the transaction primarily with proceeds from the issuance of a new credit facility and available cash.

Canaccord Genuity is serving as financial advisor to CryoLife and its Board of Directors in connection with the transaction.

CryoLife, headquartered in suburban Atlanta, Georgia, is a leader in the manufacturing, processing, and distribution of implantable living tissues and medical devices used in cardiac and vascular surgical procedures.  CryoLife markets and sells products in more than 75 countries worldwide.

On-X Life Technologies develops mechanical heart valve replacements that are designed to dramatically improve patients' quality of life. The On-X aortic heart valve is the only mechanical valve FDA approved and clinically proven to be safer with less anticoagulation.  On-X is headquartered in Austin, Texas and is a privately held company.