LeMaitre Vascular’s $90 Million Acquisition Of Artegraft


Lowenstein Sandler represented Artegraft in the transaction.

Artegraft, Inc. executed the sale of its business and assets to LeMaitre Vascular, Inc. (Nasdaq: LMAT) for $90 million, including $72.5 million in cash paid at closing as well as potential earnout payments of $17.5 million payable based upon future sales of the acquired business. Under the terms of the deal, LeMaitre will continue to operate Artegraft’s manufacturing facility in North Brunswick, New Jersey, for at least three-and-a-half years and will retain most of Artegraft’s employees.

Artegraft processes and sells biologic vascular grafts that are derived from bovine carotid arteries and are implanted primarily in hemodialysis access patients. Artegraft generated trade sales of $15.6 million and estimated hospital-level sales of $18.6 million during the 12-month period ended May 31, 2020.

LeMaitre Vascular 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 Lowenstein deal team representing Artegraft included Michael J. Lerner (Picture), Michael Reinhardt, Annie Nazarian Davydov, Darren Goodman, Robert J. Paradiso, Mary E. Storella, Brian A. Silikovitz, Sophia Mokotoff, James C. Shehan, Norman W. Spindel, Taryn E. Cannataro, Danielle M. Falzone, and Jesse S. O’Connell.

Involved fees earner: Taryn Cannataro – Lowenstein Sandler LLP; Danielle Falzone – Lowenstein Sandler LLP; Darren Goodman – Lowenstein Sandler LLP; Michael Lerner – Lowenstein Sandler LLP; Sophia Mokotoff – Lowenstein Sandler LLP; Annie Nazarian Davydov – Lowenstein Sandler LLP; Jesse O’Connell – Lowenstein Sandler LLP; Robert Paradiso – Lowenstein Sandler LLP; Michael Reinhardt – Lowenstein Sandler LLP; James Shehan – Lowenstein Sandler LLP; Brian Silikovitz – Lowenstein Sandler LLP; Norman Spindel – Lowenstein Sandler LLP; Mary Storella – Lowenstein Sandler LLP;

Law Firms: Lowenstein Sandler LLP;

Clients: Artegraft;

Author: Ambrogio Visconti