Advertisement
News
Advertisement

LeMaitre Vascular due $1.3M in early exit from stent graft deal

Mon, 07/18/2011 - 6:44am
Mass High Tech: The Journal of New England Technology

Burlington medical devices firm LeMaitre Vascular Inc. (Nasdaq: LMAT) has left the stent graft market in favor of focusing on its vascular products, chairman and CEO George W. LeMaitre said in a news release today, following two separate transactions driving the strategy shift.

The company signed an early termination agreement with Endologix Inc. (Nasdaq: ELGX), of Irvine, Calif., related to European distribution rights LeMaitre held for Endologix’s aortic endovascular technology. The early termination deal – which bumps up the end date of the agreement from June 30, 2013, to Sept. 1, 2011 – gives LeMaitre an extra $1.3 million stemming from a fee Endologix will absorb as it takes over direct sales of the California company’s Powerlink System,

SOURCE

Advertisement

Share this Story

X
You may login with either your assigned username or your e-mail address.
The password field is case sensitive.
Loading