LeMaitre Vascular Buys Xenotis For $7.7 Mln - Quick Facts

(RTTNews) - LeMaitre Vascular Inc. (LMAT) said Monday that it acquired Xenotis, the manufacturer and marketer of the Omniflow II biological graft for peripheral bypass and dialysis access, on August 14th. Total consideration for 100% of Xenotis' shares was $7.7 million, consisting of $5.1 million at the closing, $1.4 million due August 13, 2015 and assumed bank debt of $1.2 million. In its fiscal year ended June 30, 2014, Xenotis broke even on sales of $2.3 million, or approximately $3.4 million if sold through LeMaitre's sales channel.

Xenotis sold 95% of its products through distributors in its fiscal 2014 and owns regulatory approvals in Europe, Australia, New Zealand, Canada, Brazil and several other international markets. Xenotis manufactures Omniflow II in its own facility in North Melbourne, Victoria, Australia and has 10 full-time employees. LeMaitre acquired the Xenotis building with an appraised value of $1.9mm as part of this $7.7mm transaction.