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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
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CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): JULY 1, 2005
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CRYOLIFE, INC.
(Exact name of registrant as specified in its charter)
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FLORIDA 1-13165 59-2417093
(State or Other Jurisdiction (Commission File Number) (IRS Employer
of Incorporation) Identification No.)
1655 ROBERTS BOULEVARD N.W., KENNESAW, GA 30144
(Address of principal executive office) (zip code)
Registrant's telephone number, including area code: (770) 419-3355
N/A
(Former name or former address, if changed since last report)
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Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
|_| Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
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SECTION 1 REGISTRANT'S BUSINESS AND OPERATIONS
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
Gerald B. Seery has been appointed to the newly created position of Vice
President of International Operations of CryoLife, Inc. ("CryoLife"), effective
July 1, 2005. Mr. Seery had been President of CryoLife Europa, based in the U.K.
for the past three years.
Effective July 1, 2005, Mr. Seery receives a base salary of $250,000, plus
a percentage of net increases in CryoLife's non-United States' revenues. Mr.
Seery is not currently employed pursuant to an written employment agreement,
however, his employment is subject to a 30 day notice of termination
requirement.
SECTION 8 OTHER EVENTS
ITEM 8.01 OTHER EVENTS.
On July 7, 2005, CryoLife announced in a press release that it had
appointed Gerald B. Seery to the newly created position of Vice President of
International Operations.
SECTION 9 FINANCIAL STATEMENTS AND EXHIBITS
ITEM 9.01 EXHIBITS.
(a) Financial Statements
(b) Pro Forma Financial Information
(c) Exhibits
Exhibit Number Description
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99.1 Press Release dated July 7, 2005
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
CryoLife, Inc. has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
CRYOLIFE, INC.
Date: July 7, 2005 By: /s/ D.A. Lee
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D. Ashley Lee, Executive Vice President,
Chief Operating Officer and
Chief Financial Officer
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EXHIBIT INDEX
Exhibit Number Description
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99.1 Press Release dated July 7, 2005
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EXHIBIT 99.1
[COMPANY LOGO]
FOR IMMEDIATE RELEASE
CONTACT: JOSEPH T. SCHEPERS
VICE PRESIDENT, CORPORATE COMMUNICATIONS
(770) 419-3355
CRYOLIFE APPOINTS GERALD B. SEERY VICE PRESIDENT
OF INTERNATIONAL OPERATIONS
ATLANTA, GEORGIA... (JULY 7, 2005)... CRYOLIFE, INC. (NYSE: CRY), a biomaterials
and biosurgical device company, announced today that Gerald B. Seery has been
appointed to the newly created position of Vice President of International
Operations. Mr. Seery has been President of CryoLife Europa, based in the U.K.
for the past three years, and has returned to the corporate headquarters in
Kennesaw, Georgia. Mr. Seery joined CryoLife in 1993 and has held several
positions with the Company including Marketing Manager for vascular tissues,
Director of Marketing, Vice President of Marketing, and President of the
Aurazyme subsidiary. He is a graduate of The Catholic University of America and
has an MBA from Columbia University. Mr. Seery will continue to report to Steven
G. Anderson, President and CEO of CryoLife, Inc.
Steven G. Anderson, President and CEO of CryoLife, Inc. stated, "One of the key
areas of opportunity and growth for the Company is our international business.
CryoLife's international BioGlue(R) sales increased 27% in the first quarter of
2005 compared to the first quarter of 2004. Approximately 22% of BioGlue sales
are derived outside the U.S. The consolidation of all of the Company's
international operations under Gerry Seery's leadership will enable us to
increase our efforts to develop and introduce products in geographic regions
outside of the U.S."
The Company markets the Model #100 SynerGraft AV access device, the O'Brien
stentless porcine heart valve and BioGlue surgical adhesive in international
markets at this time. The Company markets and distributes its products in
approximately 60 countries throughout the world. The Company also recently
announced its research collaboration with The Magdi Yacoub Institute at The
Imperial College in London, U.K. to improve xenografts for human
transplantation.
ABOUT CRYOLIFE
Founded in 1984, CryoLife, Inc. is a leader in the processing and distribution
of implantable living human tissues for use in cardiovascular and vascular
surgeries throughout the United States and Canada. The Company's BioGlue
Surgical Adhesive is FDA approved as an adjunct to sutures and staples for use
in adult patients in open surgical repair of large vessels and is CE marked in
the European Community and approved in Canada for use in soft tissue repair and
approved in Australia for use in vascular and pulmonary sealing and repair.
For additional information about the company, visit CryoLife's web site:
http://www.cryolife.com
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