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CryoLife adds health system CEO to board of directors


Atlanta biomedical company CryoLife has bolstered its board of directors by adding a health care CEO as its ninth member.

CryoLife Inc. (NYSE: CRY) announced Tuesday that it increased the size of its board with the appointment of Marna Borgstrom. Since 2005, Borgstrom has worked as president, Chief Executive Officer and board member of the Yale New Haven Health System, an integrated health care delivery system that operates in Connecticut, western Rhode Island and Westchester County in New York.

Borgstrom serves on several other boards, including Vizient Inc., a privately held health care performance improvement company, the Coalition to Protect America's Healthcare, and the Healthcare Institute.

Borgstrom will receive a stock award valued at $114,583, which will be vested after one year of service, according to Securities and Exchange Commission filings. Also, starting July 1, she will receive $3,750 for her service on the board, plus $416.66 for serving on the Compliance Committee.

Pat Mackin, CryoLife's chairman, president, and CEO, cited Brogstrom's nearly 40 years of escalating senior leadership experience as one of the reasons for her appointment.

"Marna is well-versed in driving profitability while operating on a budget and has deep experience in developing partnerships and recruiting and retaining executives and physician leaders," Mackin said. "Her extensive experience coupled with her knowledge and recognition within the healthcare industry will complement our Board and provide invaluable guidance as we continue our mission as a market leader."

CryoLife manufactures, processes, and distributes medical devices and implantable tissues used in cardiac and vascular surgical procedures focused on aortic repair.