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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • CryoLife To Receive Initial Payment From Medafor Acquisition 0 comments
    Oct 7, 2013 10:51 AM | about stocks: CRY

    Originally published at www.seclive.com

    CryoLife, Inc. (NYSE:CRY) announced today that it expects to receive an initial payment from its acquisition of Medafor. The payment from Medafor will be approximately $15.1M for its 2.3 million shares. CryoLife stands to receive up to an additional $8.4M upon certain milestones being met. CryoLife, which processes and distributes human tissues for use in cardiac and vascular surgery, sees this acquisition as an important strategic step in its quest for market dominance. CryoLife President, Chairman, and CEO Steven Anderson commented that he is pleased that the acquisition is already yielding positive returns to shareholders. The resulting $12.5M gain will be accounted for in fourth quarter 2014, and will contribute to the company's growth.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Themes: acquisition Stocks: CRY
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