LeMaitre Vascular Acquires Clinical Instruments
LeMaitre Vascular, Inc. (Nasdaq:LMAT), a provider of peripheral vascular devices and implants, announced today that on July 5, 2013 it acquired the assets of Clinical Instruments International, Inc. for $1.1mm, or 1.7X 2012 sales. Clinical Instruments is based in Southbridge, MA and manufactures carotid shunts and embolectomy catheters.
This tuck-in acquisition enables LeMaitre Vascular to grow its #2 and #3 product lines (catheters and shunts respectively). It also brings two new products to the LeMaitre Vascular sales bag: latex-free carotid shunts and latex-free dual-lumen embolectomy catheters.
"We are pleased at the market and SKU expansion opportunity Clinical Instruments affords us, and we anticipate a smooth integration," said David Roberts, President of LeMaitre Vascular.
Guidance on how this acquisition may affect LeMaitre Vascular's 2013 revenue and operating income will be provided on its Q2 2013 earnings call.
About LeMaitre Vascular
LeMaitre Vascular is a provider of devices and implants 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. The Company's diversified product portfolio consists of brand name devices used in arteries and veins outside of the heart. Additional information can be found at http://www.lemaitre.com.
LeMaitre and the LeMaitre Vascular logo are registered trademarks of LeMaitre Vascular, Inc.