Artivion (AORT) investor relations material

Strategic focus and vision

• Refocused on aortic disease by divesting non-core assets and targeting cardiac and vascular surgeons treating the aorta.

• Executed four major transactions over five years, including acquisitions of On-X, Jotec, and Ascyrus, and a partnership with EndoSpan, to build a comprehensive aortic technology portfolio.

• Maintains a disciplined, customer-driven innovation strategy, deeply engaging with clinicians to address unmet needs.

• Current pipeline includes seven PMAs, reducing the need for further acquisitions but remaining opportunistic.

Product innovation and market expansion

• AMDS launch in the U.S. is driving significant organic growth in the aortic stent graft line, with market-expanding potential by enabling more centers to treat acute type A patients.

• AMDS shown to reduce mortality in malperfusion patients from 30% to 10% in trials, with potential to standardize care across large and small centers.

• Comprehensive aortic strategy includes AMDS, Frozen Elephant Trunk, and Nexus, allowing tailored solutions for diverse patient and surgeon needs.

• New reimbursement code (MS-DRG 209) for complex aortic arch procedures enhances financial incentives for adoption.

Financial performance and outlook

• Expects to sustain double-digit revenue growth and EBITDA growth at twice the revenue rate for several years, with recent quarters exceeding these targets.

• Gross margin expansion underway, driven by high-margin aortic products like AMDS, with a long-term goal of reaching 70% gross margin.

• SG&A leverage expected to continue, with only modest increases in sales force and targeted investments in support of growth.

• R&D spend projected at 7-8% of sales, with flexibility provided by margin expansion.