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CryoLife borrows full $30 million under revolving credit facility
By Wendy Van Sickle
Columbus, Ohio, April 1 – CryoLife Inc. borrowed the entire $30 million available under its revolving credit facility, according to a news release.
The company said the drawdown is a precautionary measure to increase cash and maintain maximum financial flexibility during the current uncertainty in global markets resulting from the Covid-19 pandemic.
As of Tuesday, CryoLife had more than $60 million in cash and cash equivalents.
CryoLife is a Kennesaw, Ga.-based medical device and tissue processing company focused on cardiac and vascular surgery.
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