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LeMaitre Vascular acquires Vascular Architects as part of expansion plans

LeMaitre Vascular : 20 September, 2007  (New Product)
LeMaitre Vascular has acquired the business of Vascular Architects, a privately-held medical device company, for $2.8 million
Vascular Architects markets and sells devices for Remote Endarterectomy (RE), a hybrid open/endovascular procedure for the minimally invasive removal of plaque, typically in the superficial femoral artery in the thigh.

The all-cash purchase price represents a 1.6 multiple of the acquired company's last-twelve-months' net revenues of $1.8 million.

Vascular Architects markets a suite of six surgical and endovascular de-bulking tools for treating long-segment peripheral occlusive disease via RE. These six tools account for the majority of Vascular Architects' net revenues. Five of these tools are single-use, disposable and patent protected.

Vascular Architects also markets an implantable, helical covered stent. Ninety percent of Vascular Architects' net revenues are derived from sales in the USA.
Vascular Architects' devices are sold primarily direct to hospitals.

The Vascular Architects business was owned by The Wallace Enterprises, based in Nashville, Tennessee, USA.

Vascular Architects' devices are used primarily by peripheral vascular surgeons.

'We expect that the Vascular Architects products will leverage our targeted vascular surgery sales force. The expanding geographic reach of our sales force should help bring the RE procedure into the armamentarium of more vascular surgeons' said David B Roberts, president of LeMaitre Vascular. 'As is typical in our past acquisitions, the essence of the Vascular Architects transaction is about bringing together an innovative vascular product and our expanding sales force,' he added.

LeMaitre Vascular did not acquire Vascular Architects' Nashville facility in Tennessee, USA, or any manufacturing operations in the transaction.
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