Artivion

Last updated
Artivion, Inc.
Company type Public
NYSE:  AORT
S&P 600 component
Industry Medical devices
Founded1984
FounderSteven Anderson
Robert McNally [1] [2]
Headquarters Kennesaw, Georgia, United States
Key people
Mat Packin, Chairman of the Board, President & CEO [3]
ProductsHuman tissues for transplant, surgical sealants, mechanical heart valves, stents and grafts
Revenue$298,836,000 (2022) [4]
Number of employees
1300 (2022) [4]
Website artivion.com

Artivion, Inc. is a distributor of cryogenically preserved human tissues for cardiac and vascular transplant applications and develops medical devices. Among its products are human heart valves, which are treated to remove excess cellular material and antigens, and BioGlue surgical adhesive.

Contents

History

Artivion was founded as CryoLife in Sarasota, Florida in 1984 by Steven Anderson and Robert McNally. [1] Anderson acted as the company’s president and CEO from its founding. [5] The company later moved from Sarasota to the Atlanta metropolitan area. [1] In January 2022 the company changed its name to Artivion, Inc. [6]

In 2000, CryoLife began offering a surgical adhesive called BioGlue used for sealing surgical lacerations under high pressure, such as in arteries. [7]

In February 2008, the FDA gave CryoLife approval for a new kind of heart valve, made from human tissues, which was the first to remove cells from the transplant tissue as opposed to only cleaning the tissue. [8] In giving the approval, the FDA said the new valve, called the CryoValve SynerGraft Pulmonary Valve, had less of a chance of rejection than previous valves. [8]

In 2010, CryoLife acquired the rights to manufacture and distribute PerClot, an absorbable hemostatic powder used in surgery. [9]

In January 2016, the company acquired On-X Life Technologies and its principal product, a mechanical heart valve called the On-X aortic valve replacement, for $130 million. [10]

In October 2017, Artivion acquired JOTEC AG, a German-based developer of medical devices for aortic and peripheral vascular diseases, for €225 million. [11] In September 2020, the company acquired Ascyrus Medical. [12]

In 2021, the company received FDA premarket application approval of its PerClot absorbable hemostatic system, [13] which comprised PerClot granules and a delivery system for surgical use. [14] Baxter International agreed to buy PerClot from Artivion in 2021. In 2023, after final FDA approval of the product, the purchase was completed. [15] [16]

See also

Related Research Articles

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References

  1. 1 2 3 "Tissue frozen for transplant later". Atlanta Journal-Constitution. 12 September 1987.
  2. ↑ "Steven Anderson retires". Atlanta Business Chronicle. 10 April 2015. Retrieved 13 March 2023.
  3. ↑ Grayson, Katharine (14 July 2014). "Leader of Medtronic's biggest business unit leaves for CEO job". Minneapolis/St. Paul Business Journal. Retrieved 13 March 2023.
  4. 1 2 "2022 Medtech Big 100". Medical Design and Outsourcing. Retrieved 14 March 2023.
  5. ↑ "Archives". sec.gov. Retrieved 25 July 2023.
  6. ↑ Kirsh, Danielle (18 January 2022). "CryoLife announces corporate rebrand, changes name to Artivion". MassDevice. Retrieved 13 March 2023.
  7. ↑ Zouhali-Worrall, Malika (6 July 2009). "CryoLife's near-death experience". CNN Money. Retrieved 13 March 2023.
  8. 1 2 "New heart valve may lower risk of rejection". NBC News. 7 February 2008. Retrieved 25 July 2023.
  9. ↑ "Archives". sec.gov. Retrieved 25 July 2023.
  10. ↑ Perriello, Brad (21 January 2016). "CryoLife closes $130m On-X Technologies buyout". MassDevice. Retrieved 13 March 2023.
  11. ↑ "Jotec gehört jetzt zu US-Unternehmen". Schwarzwalder Bote. 13 October 2017. Retrieved 14 March 2023.
  12. ↑ "CryoLife acquires Ascyrus Medical to expand presence in aortic market". Medical Device Network. 3 September 2020. Retrieved 13 March 2023.
  13. ↑ Boyle, Annette (23 May 2023). "A quick two step: Artivion granted PMA for Perclot, transfers it to Baxter for $18.75M". BioWorld. Retrieved 25 July 2023.
  14. ↑ "PerClot Polysaccharide Hemostatic System - P210036". fda.gov. Retrieved 11 August 2023.
  15. ↑ Boyle, Annette (23 May 2023). "A quick two step: Artivion granted PMA for Perclot, transfers it to Baxter for $18.75M u I". BioWorld. Retrieved 25 July 2023.
  16. ↑ "Baxter acquires PerClot assets from CryoLife". Medical Device Network. 30 July 2021. Retrieved 14 March 2023.
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