CryoLife Wraps Up On-X Buy

Atlanta-based CryoLife has completed its purchase of On-X Life Technologies Holdings, a mechanical heart valve company.

CryoLife announced last month that it would pay $130 million up front for Austin, Texas-based On-X, which was founded in 1994 as the Medical Carbon Research Institute. It changed its name to On-X in 2007.

On-X generated revenue of approximately $33 million in 2014, according to CryoLife. — Elizabeth Hollis