LifeNet Health continues strategic growth with Austrian tissue bank acquisition

VIRGINIA BEACH, Va., Feb. 2, 2017 /PRNewswire-USNewswire/ -- LifeNet Health, a leading, non-profit regenerative medicine company, has completed an all-equity acquisition of Austrian tissue bank AlloTiss Gemeinnützige Gewebebank GmbH.

Founded in 2014, AlloTiss is a trusted member of the biomedical community, with partnerships throughout the European Union. The acquisition enables LifeNet Health to establish a European headquarters that will serve as a training and distribution center to support the growing use of allografts in Europe. This facility, which is planned to open in summer 2017, will be located in Vienna, Austria, and will leverage AlloTiss's existing logistical infrastructure. Initially, approximately five employees will be based in the 7,000-square-foot space.

The move represents a natural extension of LifeNet Health's mission of saving lives, restoring health and giving hope through the gift of organ and tissue donation. In addition to training, the Vienna location will streamline the process of providing grafts to clinicians throughout the United Kingdom and the European Union, allowing for enhanced customer service.

"LifeNet Health's innovations have enhanced allograft safety and efficacy around the world," said LifeNet Health President and CEO Rony Thomas. "Establishing a European center of excellence will expand that effort by providing physician education and facilitating the introduction of advanced technologies in Europe."

LifeNet Health grafts are distributed in more than 25 countries on five continents, but this marks its first investment in a facility dedicated exclusively to serving the European clinical community.

About LifeNet Health
LifeNet Health helps save lives, restore health, and give hope to thousands each year. It is the world's most trusted provider of transplant solutions — from organ procurement to bio-implants and cellular therapies — and a leader in regenerative medicine, while always honoring the donors and healthcare professionals who enable healing. For more information about LifeNet Health, go to www.LifeNetHealth.org.

SOURCE LifeNet Health

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http://www.LifeNetHealth.org