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Transactions With Related Parties
12 Months Ended
Dec. 31, 2014
Transactions With Related Parties [Abstract]  
Transactions With Related Parties

18.  Transactions with Related Parties

 

A member of the Company’s Board of Directors and a shareholder of the Company is an employee of an investment banking services company.  The Company made stock repurchases of $5.6 million, $321,000, and $794,000 in 2014,  2013, and 2012, respectively, which includes the cost of stock and commissions of less than 1%  to that investment banking services company.

 

A member of the Company’s 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 $273,000, $353,000, and $267,000 for the Company in 2014,  2013, and 2012, respectively.  Additionally, the son of this member of the Company’s Board of Directors receives a retainer for performing heart and lung transplants from a medical center that generated product and preservation services revenues of $616,000, $345,000, and $312,000 for the Company in 2014,  2013, and 2012, respectively.

 

The Company expensed $45,000, $47,000, and $22,000 in 2014,  2013, and 2012, respectively, relating to supplies for clinical trials purchased from a company whose Chief Financial Officer is a member of the Company's Board of Directors and a shareholder of the Company.

 

A relative of the Company’s Executive Chairman is employed as a vice president of the Company.  His compensation and benefits are set and subject to review by the Compensation Committee of the Board of Directors.