Lifeline Scientific : Annual Report 2015

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Lifeline Scientific

LIFELINE SCIENTIFIC, INC. / 2015 ANNUAL REPORT

LIFELINE SCIENTIFIC

Market-leading developers of products and services for cell, tissue and organ transplantation, serving 211 transplant programmes in 29 countries.

STRATEGIC REPORT

1. Our highlights

2. At a glance

3. Our products

4. Our presence

6 Chairman's statement

8 Chief Executive Officer's statement

1. Risks and uncertainties

   GOVERNANCE

2. Board of Directors

3. Report on corporate governance

4. Remuneration report

5. Report of the Directors

FINANCIAL STATEMENTS

1. Independent auditor's report

2. Consolidated balance sheets

1. Consolidated statements of operations

2. Consolidated statements of comprehensive income

3. Consolidated statements of changes in stockholders' equity

4. Consolidated statements of cash flows

5. Notes to consolidated financial statements

OTHER

43 Glossary of terms

IBC Company information and advisors

1

LIFELINE SCIENTIFIC

2015 Annual Report

STRATEGIC REPORT / OUR HIGHLIGHTS

We are delivering

Solid growth in 2015.

Positive momentum going into the new fiscal year.

Revenue (US$m)

39.4

39.4 Revenue from single-use consumable products (US$m)

37.2

31.9

29.4

27.8

23.1

20.8

35.2

33.2

30.2

25.4

23.2

37.2 Operating income (US$m) (before non-recurring items)

5.7

4.5

5.7

2.4

0.9

0.1

1.9

2.8

16.2

18.3

09 10 11 12 13 14 15 09 10 11 12 13 14 15 09 10 11 12 13 14 15

Research and development (US$m)

2.6

2.9

3.2

2.4

1.2 Gross margin (%) 60.2 Cash (US$m)

6.9

9.4

11.1

6.9

3.3

3.0

5.7

3.1

1.2

0.7

0.3

09 10 11 12 13 14 15 09 10 11 12 13 14 15 09 10 11 12 13 14 15

2

LIFELINE SCIENTIFIC

2015 Annual Report

STRATEGIC REPORT / AT A GLANCE

Transforming transplantation

Lifeline Scientific is dedicated to developing and marketing advanced medical products and services designed to improve patient outcomes in transplantation.

211

leading transplant programmes with LifePort® Kidney Transporter

29

countries worldwide employing LifePort Kidney Transporter

75,000+

kidneys preserved on LifePort Kidney Transporter for clinical transplantation

Organ Recovery Systems

The global market-leading provider of organ preservation products and services, Organ Recovery Systems, is committed to advancing organ preservation for transplantation by developing innovative medical technologies and support systems. Organ Recovery Systems

is based in Chicago, with regional offices in Europe (Brussels) and South America (São Paulo).

T3 - a strategic affiliate

Based in Charleston, South Carolina, Tissue Testing Technologies ("T3") is an internationally respected cryobiology research laboratory focused on developing novel approaches to preserve, transport, and evaluate biological living materials for transplantation and other clinical and research applications.

LifePort Kidney Transporter 1.1