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news.LeMaitre Vascular has acquired Biomateriali, a privately held Italian vascular graft manufacturer, for E1.8 million in cash and the assumption of E0.8 million in intercompany liabilities and contingent liabilities of E1-1.5 million. The acquisition was structured as a stock purchase.
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The company does not expect to record Biomateriali revenue for the balance of 2007. It is expected that this acquisition will be dilutive in 2008. The Biomateriali acquisition does not change the company’s previous 2007 revenue guidance of $40.5 million to $41.3 million.
George LeMaitre, chairman and CEO of LeMaitre Vascular, said: “Biomateriali’s high quality vascular grafts fit well in our product range and will leverage our growing European sales force.”