LeMaitre Vascular has acquired the ProCol vascular bioprosthesis product line from Hancock Jaffe Laboratories for US$665,000 plus a three-year royalty. Simultaneously, LeMaitre Vascular purchased from CryoLife finished goods inventory and other ProCol related assets for US$2,035,000.
ProCol is a biological (bovine) graft indicated for vascular access subsequent to at least one failed prosthetic access graft. The ProCol device received premarket approval from the US Food and Drug Administration in 2003. In 2015, hospital sales of ProCol were approximately US$1.3m, all in the USA.
Dave Roberts, LeMaitre Vascular’s president, commented, “ProCol is a natural companion to our XenoSure bovine vascular patch. This acquisition represents another addition to our biologics platform, following our acquisitions of XenoSure in 2012 and the OmniFlow II biosynthetic graft in 2014.”
In conjunction with the acquisition, Hancock Jaffe Laboratories will provide manufacturing transition services to LeMaitre Vascular from its production facility in Irvine, USA, for up to five years.