CryoLife Breaks Ground On New High-tech Facility; CryoLife Doubles Its Corporate Campus Due to Demand For Company's Services And Products
ATLANTA--(BW HealthWire)--Feb. 10, 2000--CryoLife, Inc. (NYSE:CRY), the leader in the development and commercialization of living human tissue implantable devices and a manufacturer and distributor of stentless heart valves and surgical adhesives, today announced that it had broken ground on a major addition to the Company's 15-acre corporate campus located in Kennesaw, Georgia, just outside Atlanta. The new addition will consist of a two-story 100,000-square foot medical device manufacturing laboratory facility with a 4,500-square foot multi-purpose atrium connecting the new and existing buildings. The new addition will include manufacturing facilities for BioGlue(R) surgical adhesive and SynerGraft(R) heart valves as well as physician training laboratories, a 150-seat auditorium/conference area, and additional corporate office space.
Steven G. Anderson, President and Chief Executive Officer of CryoLife, said, "The expansion of our new corporate campus is in response to the growing demand for the Company's BioGlue surgical adhesive and SynerGraft heart valves. This additional space will allow us to incorporate the manufacturing operations that are currently off-site into one location and to accommodate future growth. The new facility will also house a high-tech physician training facility. We expect the new building to be ready for occupancy in early to mid-2001. When completed, the CryoLife corporate campus will comprise three state-of-the-art buildings with 205,000-square feet on 15 acres, giving us the space we need for many years to come."
Founded in 1984, CryoLife, Inc. is the leader in the development and commercialization of implantable living human tissues for use in cardiovascular, vascular, and orthopaedic surgeries throughout the United States and Canada. The Company's BioGlue(R) surgical adhesive, CE marked in the European Union and approved in Canada for use in vascular and pulmonary sealing and repair, is distributed throughout Europe and Canada. The Company also manufactures CryoLife-O'Brien(R) and CryoLife-Ross(R) stentless porcine heart valves which are distributed within the European Community.
Statements made in this press release that look forward in time involve risks and uncertainties and are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such risks and uncertainties include the possibility that the demand for BioGlue surgical adhesive will not continue to increase because (i) surgeons may choose not to utilize BioGlue surgical adhesive, (ii) BioGlue surgical adhesive could have currently unforeseen side effects which could render it undesirable for use in vascular and pulmonary applications, (iii) due to the possibility that future human clinical results with respect to BioGlue could prove less encouraging or (iv) because BioGlue surgical could possibly be found not to be effective in reducing bleeding in humans. Additional risks and uncertainties that could affect the forward-looking statements contained herein include changes in economic cycles, competition from other companies, changes in laws and governmental regulations applicable to the Company and other risk factors detailed in the Company's Securities and Exchange Commission filings, including the Company's Prospectus dated March 30, 1998, contained in its Registration Statement on Form S-3 (No. 333-46545).
For additional information about the Company, visit CryoLife's web site: http://www.cryolife.com
CONTACT: CryoLife Inc., Atlanta
Roy Vogeltanz, 800/438-8285