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March 17, 2016
LeMaitre Vascular Acquires ProCol Vascular Bioprosthesis
March 18, 2016—LeMaitre Vascular, Inc. announced that it has acquired the ProCol vascular bioprosthesis product line from Hancock Jaffe Laboratories, Inc. for $665,000 plus a 3-year royalty. Hancock Jaffe will provide manufacturing transition services to LeMaitre Vascular from its production facility in Irvine, California, for up to 5 years.
Simultaneously, LeMaitre Vascular purchased from CryoLife, Inc. finished goods inventory and other ProCol-related assets for $2,035,000. In March 2014, CryoLife announced that it had acquired the exclusive worldwide distribution rights for the ProCol vascular bioprosthesis from Hancock Jaffe with the right to acquire the ProCol product line beginning 24 months after execution of the agreement.
ProCol is a biological bovine-derived graft indicated for vascular access subsequent to at least one failed prosthetic access graft. The ProCol device received US Food and Drug Administration premarket approval in 2003.
In addition to ProCol, LeMaitre Vascular’s biologics platform includes the XenoSure bovine vascular patch and the OmniFlow II biosynthetic graft.
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