LeMaitre Vascular Acquires Assets of Restore Flow Allografts
November 15, 2016—LeMaitre Vascular, Inc. announced that it has acquired the assets of Restore Flow Allografts, LLC for $14 million, of which $12 million was paid at closing, and $2 million is due on May 10, 2018, as well as potential earnout payments over the next 2 years based on the performance of the acquired business. Restore Flow Allografts derives revenue from human tissue preservation services, particularly the processing and cryopreservation of peripheral vascular veins and arteries. LeMaitre expects this acquisition to increase Q4 and full-year 2016 revenues by $550,000 and to reduce Q4 and full-year 2016 operating income by $200,000.
“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 United States sales force while Canadian and European approvals of Restore Flow might be future expansion paths,” commented Dave Roberts, LeMaitre Vascular’s President.