Full Press Release Details
BURLINGTON, Mass., April 20, 2023 (GLOBE NEWSWIRE) -- LeMaitre Vascular, Inc. (Nasdaq: LMAT), a provider of vascular devices, implants and services, announced today it has entered into an agreement with Aziyo Biologics, Inc. (Nasdaq: AZYO) to become the exclusive distributor of Aziyo’s cardiovascular patches in the United States. Under the agreement, LeMaitre will distribute the products for three years and has an option to acquire Aziyo’s worldwide cardiovascular patch business during the second and third year of the term.
The patches are marketed under the brands ProxiCor®, VasCure® and Tyke® and are made of an extracellular matrix designed to decrease inflammation and stimulate the formation of healthy tissue. Aziyo’s 2022 sales of cardiovascular patches in the U.S. were $6.8 million. LeMaitre expects to generate a 50% gross margin on the sale of these patches.
David Roberts, LeMaitre’s President, commented, “We are pleased to add these next-generation products to our U.S. product offering and to provide our vascular and cardiac surgeons an extracellular option in addition to our range of XenoSure®, CardioCel® and VascuCel® biologic patches.”
Guidance on how this transaction may affect LeMaitre’s 2023 revenue, operating income and EPS expectations will be provided at the Company’s Q1 2023 earnings call on May 2, 2023.
LeMaitre is a provider of devices, implants and services for the treatment of peripheral vascular disease, a condition that affects more than 200 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 is a registered trademark of LeMaitre Vascular, Inc. This press release may include other trademarks and trade names of the Company. For more information about the Company, please visit http://www.lemaitre.com.
LeMaitre Vascular, Inc.