CryoLife, Medafor Inc. deal

CryoLife took an 8% stake in partner Medafor through the purchase of 1.6 million shares at about $2 per share and proposed to acquire the hematology company for $2 per share in cash, plus stock. CryoLife said that it believes it is now Medafor's largest single shareholder. CryoLife has exclusive rights to distribute Medafor's HemoStase MPH polysaccharide hemostatic technology in the U.S. to control surgical bleeding under a 2008 deal. In a letter to the Medafor Board, CryoLife Chairman, President and CEO Steven Anderson said he does not believe that Medafor has the resources to maximize the potential of HemoStase on its own. ...