Artivion to acquire Israeli medtech firm Endospan in deal worth up to $335 million
FDA approval for Endospan’s aortic repair system triggers long-awaited acquisition option.
Artivion, formerly known as CryoLife and traded on the New York Stock Exchange, announced that it is exercising its option to acquire full ownership of Israeli medical device company Endospan for approximately $135 million. The transaction value could increase by up to an additional $200 million if certain commercial milestones are achieved.
Artivion said the acquisition follows the receipt of FDA approval for Endospan’s flagship product, the Nexus catheter-based system designed for the minimally invasive treatment of aortic arch pathologies.
The relationship between the two companies began in September 2019, when they signed an exclusive distribution agreement alongside an option agreement that was set to expire roughly 90 days after regulatory approval in the United States. That approval was officially granted on April 2, 2026, triggering the current exercise of the option.
Under the terms of the agreement, the acquisition’s base value was set at $175 million. Although Artivion had the option to combine cash and stock as payment, the company elected to complete the transaction entirely in cash. After offsetting existing debt and loans previously extended by Artivion to Endospan, the net cash payment is expected to total approximately $135 million. The acquisition will be financed through Artivion’s existing credit facility.
In addition, the agreement includes contingent consideration of up to $200 million, payable approximately two years after the transaction closes, depending on the commercial performance and U.S. sales of the Nexus system.
Completion of the acquisition remains subject to customary closing conditions, including the satisfactory completion of due diligence, regulatory approvals, and the absence of any material adverse changes in Endospan’s business. The announcement coincided with the release of Artivion’s first-quarter financial results.
Founded in 2009 by Rafi Benary and Alon Shalev, Endospan develops implantable stent systems for minimally invasive treatment of aortic diseases. Over the years, the company has raised tens of millions of dollars from investors including Accelmed, founded by Mori Arkin and Dr. Uri Geiger, as well as Sequoia Capital Israel, Vitalife, and Chinese pharmaceutical company Haisco.
