CryoLife, Inc. (NYSE: CRY), an Atlanta-based provider of implantable living human tissues for use in cardiac and vascular surgeries, has entered into a credit facility with GE Healthcare Financial Services for up to $15 million in revolving credit.
Terms provide working capital, acquisitions and other corporate purposes. Any outstanding principal balance will be due under the credit agreement when it expires in March 2011.
"This credit facility further enhances the financial flexibility of the Company and allows us to continue to evaluate opportunities that create value for our shareholders," stated Steven G. Anderson, chief executive officer of CryoLife, Inc.
Just last week, the company implanted its first CryoValve(R) SG pulmonary human heart valve since the product was cleared by the Food and Drug Administration (FDA) in February. The procedure was performed on a patient at St. Louis Children’s Hospital in St. Louis, Mo.
