Transactions With Related Parties

12 Months Ended

Dec. 31, 2017

Transactions With Related Parties [Abstract]

Transactions With Related Parties

19.  Transactions with Related Parties

A member of our Board of Directors and a shareholder of the Company is an employee of an investment banking services company.  On January 20, 2016 we acquired On-X.  The investment banking company represented On-X, not us, in that acquisition, for which that investment banking services company earned $3.0 million in fees upon the close of the acquisition.  We paid these fees directly to the investment banking company on behalf of On-X from the acquisition sales proceeds otherwise due On-X shareholders. 

A member of our Board of Directors and a shareholder of the Company was the former Chief of Thoracic Surgery of a university hospital that generated product and preservation services revenues of $133,000,  $316,000, and $329,000 for us in 2017,  2016, and 2015, respectively.  Additionally, the son of this member of our Board of Directors receives a retainer for performing heart and lung transplants from a medical center that generated product and preservation services revenues of $793,000,  $479,000, and $617,000 for us in 2017,  2016, and 2015, respectively.

We expensed $34,000,  $39,000, and $35,000 in 2017,  2016, and 2015, respectively, relating to supplies for clinical trials purchased from a company whose former Chief Financial Officer is a member of the Company's Board of Directors and a shareholder of the Company.

We expensed $53,000, $44,000,  and $43,000 in 2017, 2016, and 2015, respectively, relating to membership fees to a medical device trade association where our President and CEO is a current member of the Board of Directors.