LeMaitre Vascular (NSDQ:LMAT) this week ponied up $11 million in cash and another $3 million in post-closing payments for the vascular clot business at Applied Medical Resources Corp.
The Burlington, Mass.-based company said the $14.2 million deal includes a one-year transition services provision that will see Applied Medical manufacture the devices for LeMaitre.
The deal covers the Syntel embolectomy and thrombectomy catheters, Python over-the-wire embolectomy catheters, Latis graft cleaning catheters and irrigation catheters. LeMaitre said the product line brought in about $3.4 million during the last year.
“We are pleased to expand our clot management product offering through this acquisition, which adds a latex-free over-the-wire embolectomy catheter to our sales bag,” president Dave Roberts said in prepared remarks.
“We are confident that our vascular customers will continue to receive the highest level of service and support from LeMaitre,” added Applied Medical Gary Johnson.
LeMaitre said it expects the Applied Medical products to add $500,000 to $600,000 in sales during the fourth quarter.
In April, the company dealt its Reddick general surgery assets to Symmetry Surgical for more than $7 million.
