CryoLife closes $225m acquisition of German graft maker Jotec

CryoLife Inc. (NYSE:CRY) said last Friday it completed its previously announced $225 million acquisition of German stent graft and surgical graft maker Jotec

In the deal, Cryolife paid $168.8 million in cash and the remaining $56.26 million in shares of Cryolife. The acquisition was funded through the combination of a $225 million term loan and $30 million credit revolver, as well as cash on hand.

The deal, which was expected to close some time before the end of 2017, officially closed on December 1, according to a press release.

Jotec put up sales of roughly $48.5 million last year and $50.9 million for the 12 months ended June 30.

The company first announced plans for the acquisition of the surgical stent graft maker in early October.

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