Baxter completed the acquisition of PerClot from CryoLife for $61m.

Baxter, a firm that develops, manufactures, and markets products and technologies, completed the acquisition of PerClot, a technology provider that modifies plant starch into ultra-hydrophilic, adhesive forming hemostatic polymers, from CryoLife, a firm engaged in manufacturing, processing, and distribution of medical devices and implantable tissues, for $61m. "Baxter is the perfect partner to acquire PerClot due to its expertise in blood management and its strong hemostat portfolio. PerClot is an outstanding product, but most of the addressable market opportunity for PerClot is outside of cardiac and vascular surgery. Baxter, which has a complementary portfolio of hemostats and sealants, with corresponding customer relationships, can significantly enhance the potential for overall success of PerClot. This transaction will allow our commercial organization to continue to focus on selling our expanded portfolio of cardiac and vascular surgery products focused on aortic repair," J. Patrick Mackin, CryoLife Chairman, President, and CEO.