CryoLife Inc. (NYSE: CRY) is acquiring Jotec AG, a German medical device manufacturer for aortic repairs. The deal for Jotec is intended to expand the buyer’s product portfolio and drive long-term growth beyond the five year horizon, according to CryoLife CEO Pat Mackin.
Founded in 2000, Jotec manufactures endovascular stent grafts and cardiac along with vascular surgical grafts used in newer forms of aortic surgery. An endovascular stent graft is a fabric tube supported by metal wire scaffolds that reinforces weak spots in the aorta. CryoLife is acquiring the Hechingen, Germany-based target for $225 million.