LeMaitre Vascular has acquired the vascular clot management business of Applied Medical Resources Corporation for US$14.2 million, of which US$11 million was paid at closing and US$3.2 million will be paid in two post-closing instalments. As part of the transaction, the parties also signed a transition services agreement under which Applied Medical will continue to manufacture the product line for LeMaitre Vascular for one year.
Applied Medical’s clot management product line, including Syntel embolectomy and thrombectomy catheters, Python over-the-wire embolectomy catheters, Latis graft cleaning catheters and irrigation catheters, is now available through LeMaitre Vascular. Sales of the business during the latest 12-month period were US$3.4 million.
Dave Roberts, LeMaitre Vascular’s president, comments, “We are pleased to expand our clot management product offering through this acquisition, which adds a latex-free over-the-wire embolectomy catheter to our sales bag.”
Gary Johnson, Applied Medical’s group president, adds, “We are confident that our vascular customers will continue to receive the highest level of service and support from LeMaitre.”
In Q4 2018, LeMaitre Vascular expects the acquired business to add US$0.5 million to US$0.6 million in sales, and have no impact on operating income due to short-term business transition-related costs.