LeMaitre Vascular Buys BD’s Cardial Business

LeMaitre Vascular Inc. announced that it has acquired the assets of Cardial, a subsidiary of BD (Becton, Dickinson & Company), located in Saint-Étienne, France. The total purchase price for the acquired assets was €2.0 million, structured as €1.1 million of cash at closing, €0.5 million of assumed liabilities, and €0.4 million of post-closing installments. 
 
Cardial’s product lines, including knitted and woven vascular grafts, valvulotomes and surgical glue, are now available through LeMaitre Vascular. Sales of the business during the latest 12-month period were €2.9mm, concentrated mostly in Europe.   
 
Dave Roberts, LeMaitre Vascular’s president, commented, “We are pleased to expand our international footprint and product offering through this acquisition. LeMaitre now has 15 product lines, all of which are used primarily by our core customer, the vascular surgeon.”
 
LeMaitre Vascular expects the acquired business to contribute $0.3 million in sales and $1.6 million in operating income in Q4 2018. The operating income contribution includes an estimated $1.7 million gain resulting from the excess of the value of the assets acquired over the purchase price.