UPDATE: CryoLife (CRY) Sells PerClot to Baxter for $60.8M

CryoLife Announces Sale of PerClot to Baxter

ATLANTA, July 29, 2021 /PRNewswire/ -- CryoLife, Inc. (NYSE: CRY), a leading cardiac and vascular surgery company focused on aortic disease, announced today that it has completed the sale of its PerClot product line to a subsidiary of Baxter International, Inc. ("Baxter") (NYSE: BAX ), for up to $60.8 million in cash. Of the $60.8 million, CryoLife will receive up to $45.8 million and Starch Medical, Inc. ("SMI") will receive up to $15.0 million. In this sale, CryoLife has transferred its PerClot product line to Baxter and SMI has agreed to transfer or extend certain rights to... More

Baxter Announces Acquisition of PerClot Polysaccharide Hemostatic System to Expand Advanced Surgery Portfolio

Marks Baxters entry into the attractive global hemostatic powder segment, broadening its portfolio offering to include a wider range of active and passive solutions

DEERFIELD, Ill.--(BUSINESS WIRE)-- Baxter International Inc. (NYSE: BAX), a leading global medical products company, announced its Baxter Healthcare Corporation subsidiary has completed the acquisition of certain assets related to PerClot Polysaccharide Hemostatic System from CryoLife, Inc (NYSE: CRY) for up to $60.8 million, including $25 million paid upfront. The remainder will be paid out upon achievement of certain select... More