Artivion Restoring Systems After Cyberattack

Dow Jones2024-12-09

By Dean Seal

Artivion took certain systems offline last month after a cybersecurity intrusion that involved "the acquisition and encryption of files," according to a securities filing.

The cardiac and vascular surgery company disclosed Monday that it is working to securely restore its systems after a cybersecurity incident on Nov. 21.

Artivion said it took certain systems offline, initiated an investigation and engaged external advisers, including legal, cybersecurity and forensics experts.

The company doesn't currently believe that the incident impacted its financial condition or results of operations. It has caused disruptions to some order and shipping processes as well as certain corporate operations, though they have largely been mitigated, according to the filing.

Artivion said it is incurring costs related to the incident that should be covered adequately by insurance, but believes additional costs going forward won't be covered.

"The company remains subject to various risks due to the incident, including the impact of delays in restoration, and, as a result, cannot provide assurances that the incident will not be determined to have a material impact in the future," according to Artivion.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

December 09, 2024 07:41 ET (12:41 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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