CryoLife (NYSE:CRY) Q3 Solid Financial Performance, Baxano Surgical

CryoLife Inc. (NYSE:CRY)

CRY achieved solid financial performance in the third quarter, with revenue growth of 8% and net income more than double compared to the prior year period.

For the third quarter of 2013, CRY posted quarterly record revenues of $36.3 million, an 8% increase compared to $33.4 million in the same period the prior year, and net income of $3.2 million, or $0.11 per basic and fully diluted common share, compared to $1.5 million, or $0.06 per basic and fully diluted common share, for the third quarter of 2012.

For the first nine months of 2013, CRY posted record revenues of $105.3 million, a 6% increase compared to $98.9 million in the same period the prior year, and net income of $7.1 million, or $0.26 per basic and $0.25 per fully diluted common share, compared to net income of $5.9 million, or $0.21 per basic and fully diluted common share, for the first nine months of 2012.

CRY 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.

More about CryoLife Inc. (NYSE:CRY) at www.cryolife.com .

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Baxano Surgical, Inc. (Nasdaq:BAXS)

BAXS reported that the United States Patent and Trademark Office has issued US Patent 8,568,306 covering the direct visualization approach of the VEO(R) Lateral Access and Interbody Fusion System.

The VEO direct visualization approach was designed to help minimize surgical trauma to the psoas muscle and the nerve plexus and reduce the risk of post-operative complications. The VEO Lateral System was launched in early 2012 and features a streamlined, radiolucent access retractor and a comprehensive portfolio of discectomy instrumentation and implants.

The VEO Lateral System employs similar patient positioning, discectomy and implant placement as other lateral systems on the market, and is compatible with neuromonitoring. However, VEO is uniquely designed for direct visualization of the psoas muscle and associated nerves throughout dissection of the psoas, due to the proprietary two-stage retraction process with shallow docking.

BAXS is a medical device company focused on designing, developing, and marketing minimally invasive products to treat degenerative conditions of the spine affecting the lumbar region.

More about Baxano Surgical, Inc. (Nasdaq:BAXS) at www.baxanosurgical.com .

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