CryoLife sells PerClot to Baxter for up to $60.8M; Q2 revenue up 42% to $76.1M

ARTIVION, INC.

Total consideration up to $60.8M: $25M at closing ($19M to CryoLife), $25M upon FDA PMA approval, $10M sales milestones.
CryoLife retains FDA costs through Dec 31, 2022; Baxter may assume after Jan 1, 2023.
Q2 2021 revenue $76.1M, up 42% GAAP vs Q2 2020 $53.8M; net loss ($2.2M) ($0.06/shr); non-GAAP net income $4.8M ($0.12/shr).
FY2021 revenue guidance $296-300M; Q3 2021 expected $71-73M, with PerClot minimal in H2 due to sale.

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