LeMaitre Vascular, Inc. (LeMaitre), a cardiovascular devices company, has completed its termination of distribution agreement with Edwards Lifesciences Corporation (Edwards Lifesciences) for its AlboGraft Vascular Graft, a polyester vascular prosthesis used in the repair or replacement of diseased blood vessels. The company paid Edwards Lifesciences EUR2.25 million in exchange for the termination, detailed customer information and transition services provided by Edwards.
The company also repurchased about EUR0.37 million of inventory.
The company expects to record charges of up to $2.5 million associated with this transaction in Q1, 2009.
“We are pleased to be able to offer the AlboGraft Vascular Graft to our vascular surgeon customers directly through our European sales force,” said David B. Roberts, president of LeMaitre Vascular. “A polyester graft is an essential device in vascular surgery and perfectly complements our product portfolio. Obtaining the distribution rights for this high-quality product allows our Company to now offer implants for both endovascular and open aortic repair.”