LeMaitre Vascular pays $14m for Restore Flow Allografts

LeMaitre Vascular (NSDQ:LMAT) said last week that it agreed to put up $14 million for tissue preservation service provider Restore Flow Allografts. The deal calls for Burlington, Mass.-based LeMaitre to pay $12 million up front and another $2 million in May 2018, plus earn-puts pegged to sales performance over the next 2 years. Fox River Grove, Ill.-based Restore Flow, which offers human tissue preservation services for the processing and cryopreservation of peripheral vascular veins and arteries, posted break-even operating profits on sales of $3.7 million for the last 12 months, LeMaitre Vascular said. The acquisition is expected to give a $550,000 boost to the top line this year, but cut operating income by $200,000, the company said. That puts the 4th-quarter operating income at $4.5 million on sales of $23.7 million; full-year operating income is now pegged at $16.9 million on revenues of $89.6 million, LeMaitre said. “We are pleased to add cryopreserved allografts to our widening range of biologic products, following our acquisitions of XenoSure in 2012, OmniFlow II in 2014 and ProCol in 2016. We believe vascular surgeons associate biologic implants with reduced infection. This acquisition provides a biologic solution for peripheral bypass to our growing U.S. sales force while Canadian and European approvals of Restore Flow might be future expansion paths,” president Dave Roberts said in prepared remarks. The post LeMaitre Vascular pays $14m for Restore...
Source: Mass Device - Category: Medical Equipment Authors: Tags: Mergers & Acquisitions Vascular Wall Street Beat LeMaitre Vascular Inc. Peripheral Artery Disease Restore Flow Allografts Source Type: news