June 22, 2020
LeMaitre Vascular Acquires Artegraft
June 22, 2020—LeMaitre Vascular, Inc. announced that it has acquired the business and assets of Artegraft, Inc.
Artegraft processes and sells biologic vascular grafts derived from bovine carotid arteries that are implanted primarily in hemodialysis access patients. The products are marketed under the brand Artegraft and are sold only in the United States.
Under the terms of the deal, LeMaitre will continue to operate Artegraft’s manufacturing facility in North Brunswick, New Jersey, for at least 3.5 years and will retain most of Artegraft’s employees, including seven sales and marketing personnel.
LeMaitre Vascular is a provider of devices, implants, and services for the treatment of peripheral vascular diseases. The transaction included payment of $90 million, plus potential earnout payments of $17.5 million based on future sales of the acquired business.
Dave Roberts, LeMaitre Vascular’s President, commented in the company’s announcement, “We are pleased to add Artegraft to our product offering, augmenting the suite of biologic and dialysis access products used by our core customer, the vascular surgeon. With this acquisition, we expect Artegraft to be the largest product line in our United States sales bag and the cornerstone of our offering of devices used to treat patients with end-stage renal disease.”
Rick Gibson, CEO of Artegraft, added, “With their focus on hemodialysis access procedures, biologic implants, and the vascular surgeon, LeMaitre Vascular is ideally positioned to build on Artegraft’s success. We look forward to working with the LeMaitre team to ensure a smooth transition of the business.”