Endologix ends Europe distribution agreement
Endologix Inc. said Monday it is ending an agreement with LeMaitre Vascular Inc., which had been distributing some of its products in Europe.
Endologix said it will pay LeMaitre $1.3 million, and it will begin selling its Powerlink aortic endovascular system and related products on Sept. 1. Under the old agreement, LeMaitre had the right to market the Powerlink system in some countries until June 30, 2013.
Endologix focuses on endovascular stent grafs for the treatment of abdominal aortic aneurysms, a weakening of the wall of the aorta, the largest artery in the body.
The company, based in Irvine, Calif., said the deal will not affect its annual revenue guidance of $78 million to $82 million. FactSet says analysts expect the company to report $81.2 million in revenue on average.
Shares of Endologix rose 10 cents to close at $9.46 Monday, while shares of Burlington, Mass.-based LeMaitre, declined 6 cents to $7.44. LeMaitre provides devices for the treatment of peripheral vascular disease, or disease in the blood vessels outside the heart.