LeMaitre Vascular (NSDQ:LMAT) is jumping into the varicose vein removal business with a $2.5 million buyout of InaVein. The Burlington, Mass.-based vascular device maker snatched up InaVein for more than 100% more than the company’s 2012 sales, according to a company statement.
Lexington, Mass.-based InaVein, which was founded in 2007, is the developer of the TRIVEX system, which uses direct visualization to remove varicose veins in a shorter period of time compared to conventional phlebectomy procedures, according to the company’s website.
The value of the deal could increase if TRIVEX meets certain performance milestones and garners regulatory approval in China.
"TRIVEX is a unique solution for the removal of varicose vein branches, a niche not effectively addressed through devices that focus on the greater saphenous vein," LeMaitre Vascular president David Roberts said in prepared release. "This transaction fits nicely into LeMaitre’s playbook of acquiring under-marketed devices at an attractive price, and bringing them to more potential vascular surgeon customers through the expansive reach of our direct sales force."