LeMaitre Vascular, Inc. (NASDAQ:LMAT) Files An 8-K Entry into a Material Definitive AgreementItem 1.01.Entry into a Material Definitive Agreement
On April5, 2018, LeMaitre Vascular, Inc. (the “Company”) entered into an agreement (the “Asset Purchase Agreement”) with Specialty Surgical Instrumentation, Inc. for the sale of assets related to the Reddick Cholangiogram Catheter and the Reddick-Saye Screw, which are general surgery products. Specialty Surgical Instrumentation, Inc. is a wholly-owned subsidiary of Symmetry Surgical, Inc. The Company consummated the transaction and divested the assets on April5, 2018 (the “Closing Date”) for $7.4million in cash at closing. Assets divested included inventory, equipment and other tangible assets, intellectual property, registrations and approvals, records and certain other assets.
The Asset Purchase Agreement contains customary representations and warranties and covenants by each party. Additionally, for a period of three years following the Closing Date, the Company has agreed not to engage in certain competitive activities with respect to the business sold. Both parties are obligated, subject to certain limitations, to indemnify the other under the Asset Purchase Agreement for certain customary and other specified matters, including breaches of representations and warranties, breaches of covenants and for certain liabilities and third-party claims.
The Company also entered into a transition services agreement and a long-term balloon supply agreement with Specialty Surgical Instrumentation, Inc. in connection with the divestiture.
The foregoing description of the Asset Purchase Agreement is not complete and is qualified in its entirety by reference to the full text of such document, which will be filed with the Company’s Quarterly on Form 10-Q for the fiscal quarter ending March31, 2018.
Item 1.01.Regulation FD Disclosure
On April5, 2018, the Company issued a press release announcing the matters described in Item 1.01 of this Current Report on Form 8-K. A copy of the Company’s press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and shall not be deemed “filed” for any purpose.
Item 1.01.Financial Statements and Exhibits
(d) Exhibits. The following exhibit is being furnished with this Current Report on Form 8-K:
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Exhibit |
Document Description |
| 99.1 | Press Release dated April5, 2018. |
EXHIBIT INDEX
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ExhibitNo. |
Description |
| EX-99.1 | Press Release dated April5, 2018. |
LEMAITRE VASCULAR INC ExhibitEX-99.1 2 d562845dex991.htm EX-99.1 EX-99.1 EXHIBIT 99.1 LeMaitre Vascular Divests General Surgery Product Lines BURLINGTON,…To view the full exhibit click here
About LeMaitre Vascular, Inc. (NASDAQ:LMAT)
LeMaitre Vascular, Inc. is a provider of medical devices for the treatment of peripheral vascular disease. The Company and its subsidiaries develop, manufacture and market medical devices and implants used primarily in the field of vascular surgery. It operates in the design, marketing, sales and technical support of medical devices and implants for the treatment of peripheral vascular disease industry segment. The Company’s product lines include valvulotomes, balloon catheters, carotid shunts, biologic vascular patches, radiopaque marking tape, anastomotic clips, remote endarterectomy devices, laparoscopic cholecystectomy devices, prosthetic vascular grafts, biologic vascular grafts and powered phlebectomy devices. Its portfolio of peripheral vascular devices consists of brand name products that are used in arteries and veins outside of the heart, including the Expandable LeMaitre Valvulotome, the Pruitt F3 Carotid Shunt, VascuTape Radiopaque Tape and the XenoSure biologic patch.