08.28.13
LeMaitre Vascular Inc., maker of peripheral vascular devices and implants, acquired InaVein LLC for $2.5 million (about 1.1 times 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 makes the Trivex System, which is used for less-invasive removal of varicose veins. Using this technology, an illuminator instrument is inserted through a small incision into the leg, enabling visualization of varicose veins. A second instrument removes the veins. Compared to conventional hook phlebectomy, this surgical procedure is faster and results in more complete vein removal through fewer incisions, according to the company.
This acquisition introduces a new product line to the LeMaitre Vascular sales bag and builds LeMaitre Vascular's presence in the varicose vein market. InaVein is a only a four-employee company based in Lexington, Mass.—less than five miles from LeMaitre Vascular's headquarters in Burlington. LeMaitre Vascular officials anticipate a smooth integration process.
"Trivex is a unique solution for the removal of varicose vein branches, a niche not effectively addressed through devices that focus on the greater saphenous vein. This transaction fits nicely into LeMaitre's playbook of acquiring under-marketed devices at an attractive price, and bringing them to more potential vascular surgeon customers through the expansive reach of our direct sales force," said David Roberts, president of LeMaitre Vascular.
LeMaitre Vascular develops disposable and implantable vascular devices for vascular surgeons. The company's product portfolio consists of brand-name devices used in arteries and veins outside of the heart.
InaVein makes the Trivex System, which is used for less-invasive removal of varicose veins. Using this technology, an illuminator instrument is inserted through a small incision into the leg, enabling visualization of varicose veins. A second instrument removes the veins. Compared to conventional hook phlebectomy, this surgical procedure is faster and results in more complete vein removal through fewer incisions, according to the company.
This acquisition introduces a new product line to the LeMaitre Vascular sales bag and builds LeMaitre Vascular's presence in the varicose vein market. InaVein is a only a four-employee company based in Lexington, Mass.—less than five miles from LeMaitre Vascular's headquarters in Burlington. LeMaitre Vascular officials anticipate a smooth integration process.
"Trivex is a unique solution for the removal of varicose vein branches, a niche not effectively addressed through devices that focus on the greater saphenous vein. This transaction fits nicely into LeMaitre's playbook of acquiring under-marketed devices at an attractive price, and bringing them to more potential vascular surgeon customers through the expansive reach of our direct sales force," said David Roberts, president of LeMaitre Vascular.
LeMaitre Vascular develops disposable and implantable vascular devices for vascular surgeons. The company's product portfolio consists of brand-name devices used in arteries and veins outside of the heart.