TacticScaleWhat Artivion Does & How It Makes Money (AORT)
Updated October 2026 · reflects Artivion's latest reported financials
Medical device maker focused on heart valves and aortic repair implants. It sells implantable devices, surgical sealants and grafts, and charges fees for preserving human tissue.
How Artivion makes money
It sells implantable devices, surgical sealants and grafts, and charges fees for preserving human tissue. Customers are hospitals and other healthcare facilities worldwide, and a direct sales team markets mainly to physicians.
What Artivion does
Artivion, formerly CryoLife, is a Kennesaw, Georgia-based medical device company focused on cardiac and aortic surgery. Its lineup covers On-X prosthetic heart valves and aortic prostheses, a broad family of aortic stent grafts (E-vita, E-xtra Design Engineering, E-nside, E-tegra, NEXUS, Arcevo, AMDS), and peripheral stent grafts, plus synthetic vascular grafts. It also sells BioGlue surgical sealant, PhotoFix bovine pericardial patches and Chord-X sutures, and provides preserved human tissue such as CryoValve SG pulmonary valves, using its SynerGraft decellularization technology. A direct sales force sells its products and preservation services to hospitals worldwide. The company was incorporated in 1984 and adopted the Artivion name in January 2022.
Products & services
- On-X mechanical heart valves
- BioGlue surgical sealant
- E-vita / E-xtra stent graft systems
- AMDS hybrid prosthesis
- NEXUS aortic arch stent graft system
- CryoValve SG and tissue preservation services
What is Artivion worth?
On an owner-earnings DCF, Artivion's most-likely value is about $25 versus a recent price near $21 (18% below fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$7) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.
Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.
⚠ High leverage — net debt is 8.8× annual cash flow. Net debt is subtracted from this fair value, but refinancing at higher rates, principal timing, and share dilution aren’t modeled — the equity can be worth far less if cash flow weakens.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
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