CryoLife, Inc. Enhances International Presence with Appointment of Andres Sarmiento as Latin America Sales Manager
Published: Jul 09, 2013
ATLANTA, July 9, 2013 /PRNewswire/ -- CryoLife, Inc. (NYSE: CRY), a leading tissue processing and medical device Company focused on cardiac and vascular surgery, announced today it has appointed Andres Sarmiento as Latin American Sales Manager for CryoLife, Inc. In this newly created position, Mr. Sarmiento will have responsibility for expanding sales of CryoLife's full product line in the Latin American region. CryoLife's products are currently sold in Argentina, Chile, Uruguay, Paraguay, Brazil, Bolivia, Venezuela, Colombia, Peru, Ecuador, Panama, Central America, Mexico, Costa Rica and Puerto Rico through distribution partners. Mr. Sarmiento will report to Richard Gridley, Vice President of Sales, Canada, Asia Pacific and The Americas.
A graduate of the University of St. Thomas (Minneapolis, MN) with Masters Degrees in both International Management and Business Administration, Mr. Sarmiento began his career at Medafor, Inc (Minneapolis, MN) in 2002. From 2004 to 2008, Mr. Sarmiento served as Director of Latin American Sales, Medafor, Inc. and from 2008 to 2013 as Continental Representative-Sales for Latin America for Medistim USA, Inc. (Minneapolis, MN). In both positions, he established and managed the companies' Latin American distribution networks for hemostatic agents and medical device products used in cardiac and vascular surgery.
"We are pleased to welcome Andres, an experienced international sales and marketing manager in The Americas, to CryoLife's international sales team. Andres brings a wealth of experience in the medical device industry to the Company, and has a proven track record of success in developing Latin American markets and distribution networks for hemostatic agents. As we continue to gain additional international approvals he is certain to make a significant contribution to our success in rolling out PerClot® in the Americas," said Steven G. Anderson, president and chief executive officer. "Andres represents the extension of direct management into the growing Latin American markets and he will support the expansion of our global product portfolio of PerClot, BioGlue® and the HeRO® Graft."
About CryoLife, Inc.
Founded in 1984, CryoLife, Inc. is a leader in the processing and distribution of implantable living human tissues for use in cardiac and vascular surgeries throughout the U.S., certain countries in Europe, and Canada. CryoLife's CryoValve® SG pulmonary heart valve, processed using CryoLife's proprietary SynerGraft® technology, has FDA 510(k) clearance for the replacement of diseased, damaged, malformed, or malfunctioning native or prosthetic pulmonary valves. CryoLife's CryoPatch® SG pulmonary cardiac patch has FDA 510(k) clearance for the repair or reconstruction of congenital heart defects. CryoLife'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. BioGlue is also CE marked in the European Community for use in soft tissue repair and approved in Japan for use in the repair of aortic dissections. Additional marketing approvals for BioGlue have been granted in several other countries throughout the world. CryoLife, through its subsidiary Cardiogenesis Corporation, specializes in the treatment of coronary artery disease for severe angina using a laser console system and single use, fiber-optic handpieces to perform a surgical procedure known as Transmyocardial Revascularization (TMR). In addition, CryoLife and its subsidiary Hemosphere, Inc. market the HeRO® Graft, which is a solution for end-stage renal disease in certain hemodialysis patients. CryoLife distributes PerClot®, an absorbable powdered hemostat, in the European Community and other select international countries. CryoLife's BioFoam® Surgical Matrix is CE marked in the European Community for use as an adjunct to hemostasis in cardiovascular surgery and on abdominal parenchymal tissues (liver and spleen) when control of bleeding by ligature or conventional methods is ineffective or impractical.
Statements made in this press release that look forward in time or that express management's beliefs, expectations or hopes are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the views of management at the time such statements are made and are subject to a number of risks, uncertainties, estimates, and assumptions that may cause actual results to differ materially from current expectations. These statements include those regarding Mr. Sarmiento's duties, responsibilities, and potential contributions, CryoLife's plans and expectations for its products, including PerClot, in the Latin American and global markets, and expectations related to gaining international regulatory approvals. The risks and uncertainties impacting these statements include that Mr. Sarmiento's employment may not result in the expected benefits to the Company. Our international operations are subject to a number of risks in addition to the risks we face in the United States, including risks related to fluctuations in exchange rates, weak economic conditions and government instability in certain Latin American countries, compliance with the Foreign Corrupt Practices Act and other anti-bribery laws, and compliance with the myriad, and potentially conflicting, laws and regulations of foreign countries. In addition, certain foreign customs and preferences may impede our ability to obtain physician and patient acceptance of our products. International regulatory requirements vary widely from country to country, and obtaining the approvals by foreign regulatory agencies will require the expenditure of a significant amount of time and resources. Our approval efforts may be subject to delays and cost overages. The success of our approval efforts is subject to factors beyond our control, and we may be unable to gain the requisite international approvals when anticipated, if at all. In addition, our approval efforts may subject us to increased scrutiny by foreign regulatory agencies, which could take actions that adversely affect the Company. We may be unsuccessful in our efforts to expand our business activities in the Latin American and global markets. The success of our products, including PerClot, is subject to factors beyond our control, including general economic conditions, physician and patient acceptance, and regulatory approval and scrutiny, and we may experience currently unforeseen difficulties related to any our products and our ability to market and distribute our products, including PerClot, in Latin America and other international markets. We may experience intense competition within the Latin American markets and other international markets, and there is no guarantee that we will penetrate or grow sales in them. CryoLife's expansion plans, including within Latin America, and plans related to international regulatory approvals are subject to change at any time based on management's assessment of the overall needs of the Company. CryoLife's business is also subject to a number of risks and uncertainties, including the risk factors detailed in our Securities and Exchange Commission filings, including our Form 10-K filing for the year ended December 31, 2012, our Form 10-Q for the quarter ended March 31, 2013, and the Company's other SEC filings. The Company does not undertake to update its forward-looking statements.
For additional information about the company, visit CryoLife's Web site: http://www.cryolife.com
D. Ashley Lee
Executive Vice President, Chief Financial Officer
The Ruth Group
Nick Laudico / Zack Kubow
646-536-7030 / 7020
SOURCE CryoLife, Inc.
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