LeMaitre Vascular Acquires Assets Of InaVein LLC For $2.5 Mln

(RTTNews) - LeMaitre Vascular Inc. (LMAT), a provider of peripheral vascular devices and implants, announced that it acquired the assets of InaVein, LLC for $2.5 million or 1.1X InaVein's 2012 sales, and potential earn-out payments in 2014 and 2015 based on the performance of the acquired business and regulatory approval in China.

InaVein owned and marketed the TRIVEX System, a business that carried a 60-70% gross margin.

TRIVEX is a system comprised of capital equipment and disposables that enables less invasive removal of varicose veins. In this procedure, an illuminator instrument is inserted through a small incision into the leg, enabling visualization of varicose veins.

This acquisition introduces a new product line to the LeMaitre Vascular sales bag and builds LeMaitre Vascular's presence in the varicose vein market. Because InaVein is a 4 employee company based in Lexington, MA—less than 5 miles from LeMaitre Vascular's headquarters—LeMaitre Vascular anticipates a smooth integration process.

The company noted that guidance on how this acquisition may affect its 2013 revenue and operating income will be provided on its third-quarter of 2013 earnings call.