BURLINGTON, Mass., July 9, 2013 (GLOBE NEWSWIRE) -- 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.
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Statements in this press release regarding the Company's business that are not historical facts may be "forward-looking statements" that involve risks and uncertainties. Forward-looking statements are based on management's current, preliminary expectations and are subject to risks and uncertainties that could cause actual results to differ from the results predicted. These risks and uncertainties include, but are not limited to, the risk that the Company may not realize the anticipated benefits of its strategic activities and other risks and uncertainties included under the heading "Risk Factors" in its most recent Annual Report on Form 10-K, as updated by its subsequent filings with the SEC, all of which are available on the Company's investor relations website at http://www.lemaitre.com and on the SEC's website at http://www.sec.gov. Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made. The Company undertakes no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date they were made, or to reflect the occurrence of unanticipated events.
LeMaitre Vascular, Inc. Mary Nielson +1-781-425-1659 http://www.lemaitre.com
LeMaitre Vascular, Inc.
Burlington, Massachusetts, UNITED STATES
Day's Range: 8.21-8.29
Previous Close: 8.30
Market Cap: 127.80M
Day's Volume: 24,446
LeMaitre Vascular, Inc. Logo