Cryolife takes a near 20% stake in ValveXchange, sealing at least its second deal related to heart treatments in three months.
US-based bio-medical device company CryoLife has invested $3.5m in US-based heart surgery company ValveXchange, receiving about 19% equity in return.
As part of the deal, CryoLife will also make up to $2m in additional debt funding available to ValveXchange through a revolving credit facility. The financing will support the initial procedures involving ValveXchange’s Vitality exchangeable heart valve system being used for human subjects.
Founded in 1984, CryoLife develops implantable biological devices, surgical adhesives and biomaterials for cardiac and vascular procedures,…
