LeMaitre Vascular to Acquire XenoSure Rights for $4.6mm
"We look forward to acquiring this high-growth product 14 months ahead of schedule, allowing us to secure manufacturing and distribution rights. Following the manufacturing transfer, we expect our XenoSure gross margin will improve from approximately 50% to 65%. In addition, this option exercise will enable us to extend and enhance the product line," said
During the manufacturing transfer, the Company expects
About LeMaitre Vascular
LeMaitre Vascular is a provider of devices for the treatment of peripheral vascular disease, a condition that affects more than 20 million people worldwide. The Company develops, manufactures and markets disposable and implantable vascular devices to address the needs of its core customer, the vascular surgeon.
LeMaitre, XenoSure and the LeMaitre Vascular logo are registered trademarks of LeMaitre Vascular, Inc.
For more information about the Company, please visit http://www.lemaitre.com.
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Statements in this press release regarding the Company's business that are not historical facts may be "forward-looking statements" that involve risks and uncertainties. Specifically, statements regarding the Company's expectations regarding XenoSure's gross margin and operating income contributions and associated expenses, development plan and timing for additional XenoSure products and sufficiency of the Company's supply of XenoSure are forward-looking, involving risks and uncertainties. Forward-looking statements are based on management's current, preliminary expectations and are subject to risks and uncertainties that could cause actual results to differ from the results predicted. These risks and uncertainties include, but are not limited to, the risk that the XenoSure product is not as accretive as anticipated; the risk that the Company experiences production delays or quality difficulties in the transition of the XenoSure manufacturing operations; and other risks and uncertainties included under the heading "Risk Factors" in our most recent Annual Report on Form 10-K, as updated by our subsequent filings with the
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