CryoLife
This article was originally published in The Gray Sheet
Executive Summary
Atlanta firm settles lawsuit with the estate of Brian Lykins, a 23-year old Minnesota knee surgery patient who died in November 2001 after receiving CryoLife-processed human condyle tissue infected with Clostridium sordellii (1"The Gray Sheet" Dec. 24, 2001, p. 32). The firm believes that its insurance is "adequate" to cover remaining liability claims...
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CryoLife legal woes
Tissue processing firm announces the settlement of five product liability cases and dismissal of three cases. Negotiations are ongoing with one of the firm's three insurance companies after the carrier said it intended to "exclude certain cases under its policy," CryoLife reports July 11. Developments "could have a material adverse effect on [CryoLife's] financial position," the company notes. The firm had $25.4 mil. in cash and cash equivalents and marketable securities as of July 3. CryoLife previously reported 23 cases pending, but the company plans to update that figure in an August "10-Q" filing with the Securities & Exchange Commission. The product liability concerns emerged after a 23 year-old Minnesota knee surgery patient died in 2001 after receiving contaminated CryoLife tissue. The case is among the five that have been resolved (1"The Gray Sheet"April 7, 2003, In Brief)...
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CDC confirms presence of rare bacterium Clostridium sordellii in Cryolife-processed human donor condyle tissue implanted in a 23-year old Minnesota knee surgery patient who died Nov. 11; the bacterium was not found or implicated in two other Minnesota total knee replacement patient deaths. Cryolife does not intend to alter its processing protocols after CDC, FDA and the Minnesota Department of Health found no connection between the deaths and made no recommendations for changes (1"The Gray Sheet" Dec. 10, 2001, In Brief)...
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