LeMaitre Vascular
| Company type | Public |
|---|---|
| Industry | Medical technology |
| Founded | 1986 |
| Founder | George D. LeMaitre |
| Headquarters | Burlington, Massachusetts , United States |
Area served | Worldwide (directly in 25 nations, through distributors in over 70 countries) |
Key people | George W. LeMaitre (noted for leadership role) |
| Products | Vascular devices, implants, cryopreservation services for human tissue |
Number of employees | 200 (2005) |
| Website | www |
LeMaitre Vascular is a U.S.-based medical technology firm established in 1986 by vascular surgeon George D. LeMaitre, with its headquarters located in Burlington, Massachusetts. The company focuses on producing devices, implants, and providing cryopreservation services for human tissue, primarily serving surgeons managing vascular diseases such as peripheral vascular disease. By 2022, LeMaitre Vascular distributed products directly to hospitals in 25 nations and through distributors in more than 70 countries spanning North America, Europe, and the Asia/Pacific region.
Foundation
George D. LeMaitre, M.D., who founded the company, was an active vascular surgeon and served as chief of surgery at Lawrence General Hospital while also teaching clinically at Tufts University School of Medicine. In 1981, after treating a patient requiring rerouting of blood flow to prevent amputation, he invented a novel valvulotome. Unhappy with existing tools, LeMaitre partnered with an engineer to create a patented instrument that allowed surgeons to incise valves within peripheral veins without direct visualization, facilitating smaller incisions and minimizing tissue damage.
After initial successful use of this device, LeMaitre continued to enhance the technology between 1981 and 1984. Unable to find manufacturing partners willing to produce the device, he took the risk of mortgaging his home and founded his own business in 1986 to commercialize the LeMaitre Valvulotome. That same year, the device secured FDA clearance.
Expansion and Progress
Following incorporation, George D. LeMaitre’s son, George W. LeMaitre, joined the enterprise and played a key role in evolving the family-owned firm into a publicly traded international corporation. In 1996, the company introduced an improved version of the valvulotome featuring an expandable design. After raising $3 million in capital during 1998, additional funding was sought from vascular surgeons. By 2004, under George D. LeMaitre’s leadership until his board departure that year, operations extended to facilities in Germany, Arizona, Florida, Wales, and Japan. That year also saw the implementation of lean manufacturing principles to enhance production efficiency. By 2005, revenues reached $30.5 million with approximately 200 employees fueling continued growth. At this point, the senior LeMaitre had partially retired to concentrate on writing. Plans for an initial public offering (IPO) emerged in 2006 with an offering of six million shares priced between $8 and $10 apiece. Toward the end of that decade, LeMaitre maintained a distribution partnership with Endologix until its acquisition by Endologix in 2011. George D. LeMaitre passed away in 2018.
As of 2022, LeMaitre Vascular remains engaged in designing, manufacturing, and marketing both disposable and implantable vascular products for open and minimally invasive surgical procedures. Its product range continues to grow with successive iterations of the original valvulotome alongside other innovative vascular instruments developed through ongoing research efforts. The company has pursued strategic expansion through acquisitions: it purchased Applied Medical’s vascular clot management division for $14.2 million in 2018 and acquired Admedus’s biologic patch segment for $15.5 million in 2019. In mid-2020, LeMaitre completed the acquisition of Artegraft, a vascular graft manufacturer, for $90 million—anticipating these additions will substantially increase sales within the U.S. market going forward.
Product categories
Approximately one-quarter of the company's revenue is derived from the sale of valvulotomes, supplemented by offerings such as embolectomy catheters, carotid shunts, and radiopaque tape. The firm's 13 product lines are organized into six distinct segments:
Acquisition history
LeMaitre Vascular has strategically grown its product range and market presence through acquiring either entire companies or specific product lines. Notable acquisitions are listed below:
| Year | Company acquired | Principal products and services |
|---|---|---|
| 1998 | Whittaker Screen Printing | Manufacturing of radiopaque tape |
| 1999 | Vermed | Embolectomy catheter production |
| 2001 | Ideas for Medicine | Carotid shunts, balloon catheters, laparoscopic instruments |
| 2003 | Credent | Polycarbonate grafts |
| 2004 | VCS Clip | Vessel closure devices |
| 2005 | Endomed | Stent grafts |
| 2007 | Vascular Innovations | Contrast injector systems |
| 2007 | Vascular Architects | Devices for remote endarterectomy |
| 2007 | UnBalloon | Catheters for stent graft modeling |
| 2007 | Biomateriali | Polyester grafts and patches |
| 2010 | LifeSpan | ePTFE grafts |
| 2012 | XenoSure | Biologic patch products |
| 2013 | Clinical Instruments | Carotid shunts and embolectomy catheters |
| 2013 | TRIVEX | Powered phlebectomy equipment |
| 2014 | Xenotis Pty Ltd | Biosynthetic grafts |
| 2014 | PeriVu | Angioscopes |
| 2015 | Tru-Incise (Eze-Sit) OUS | Valve cutting tools |
| 2016 | ProCol | Biologic grafts |
| 2016 | RestoreFlow | Cryopreservation services for human tissue |
| 2018 | Syntel and Python | Embolectomy catheters |
| 2018 | Cardial | Polyester grafts, valvulotomes, surgical adhesives |
| 2019 | Tru-Incise (Eze-Sit) US | Valve cutting instruments |
| 2019 | CardioCel and VascuCel | Biologic patch materials |
| 2020 | Artegraft | Production of vascular grafts |
Subsidiaries
To bolster its worldwide operations and foster growth, LeMaitre Vascular maintains several subsidiaries both within the United States and internationally.
| Subsidiary name | State of incorporation |
|---|---|
| LeMaitre UK Acquisition LLC | Delaware |
| LeMaitre Acquisition LLC | Delaware |
| Vascutech Acquisition LLC | Delaware |
| Subsidiary name | Country of incorporation |
|---|---|
| Biomateriali S.r.l. | Italy |
| LeMaitre Vascular GmbH | Germany |
| LeMaitre Vascular GK | Japan |
| LeMaitre Vascular SAS | France |
| LeMaitre Vascular Spain, S.L. | Spain |
| LeMaitre Vascular S.r.l. | Italy |