BURLINGTON, Mass., March 18, 2016 (GLOBE NEWSWIRE) -- LeMaitre Vascular, Inc. (Nasdaq:LMAT), a provider of peripheral vascular devices and implants, announced today that it has acquired the ProCol Vascular Bioprosthesis product line from Hancock Jaffe Laboratories, Inc. for $665,000 plus a three year royalty. Simultaneously, LeMaitre Vascular purchased from CryoLife, Inc. finished goods inventory and other ProCol related assets for $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 PMA approval from the FDA in 2003. In 2015, hospital sales of ProCol were approximately $1.3 million, all in the United States.
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, CA for up to five years.
Guidance on how this acquisition may affect LeMaitre Vascular’s 2016 revenue and operating income expectations will be provided at the Company’s Q1 2016 earnings call on May 2.
About LeMaitre Vascular
LeMaitre Vascular is a provider of devices for the treatment of peripheral vascular disease, a condition that affects more than 20 million people worldwide. The Company develops, manufactures and markets disposable and implantable vascular devices to address the needs of its core customer, the vascular surgeon.
LeMaitre and the LeMaitre Vascular logo are registered trademarks of LeMaitre Vascular, Inc. This press release contains other trademarks and trade names of the Company.
For more information about the Company, please visit http://www.lemaitre.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Statements in this press release regarding the Company's business that are not historical facts may be "forward-looking statements" that involve risks and uncertainties. Forward-looking statements are based on management's current, preliminary expectations and are subject to risks and uncertainties that could cause actual results to differ from the results predicted. These risks and uncertainties include, but are not limited to, the risk that the Company may not realize the anticipated benefits of its strategic activities and other risks and uncertainties included under the heading "Risk Factors" in its most recent Annual Report on Form 10-K, as updated by its subsequent filings with the SEC, all of which are available on the Company's investor relations website at http://www.lemaitre.com and on the SEC's website at http://www.sec.gov. Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made. The Company undertakes no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date they were made, or to reflect the occurrence of unanticipated events.
CONTACT: For information contact: David B. Roberts President LeMaitre Vascular, Inc. 781-425-1693 firstname.lastname@example.org
Source:LeMaitre Vascular, Inc.