BURLINGTON, Mass., March 14, 2023 (GLOBE NEWSWIRE) — LeMaitre Vascular, Inc. (Nasdaq: LMAT), a provider of vascular devices, implants and services, today announced that it has signed a definitive agreement to buy out its Thai distributor, Prompt Serve, for $688,000. In 2022 Prompt Serve purchased $950,000 of LeMaitre devices which it then sold to Thai hospitals for approximately $1.5mm. LeMaitre expects to establish a Bangkok office/warehouse and to begin selling directly to Thai hospitals in H2 2023. This will be LeMaitre’s 29th direct-to-hospital country and follows LeMaitre’s Korean distributor buyout in 2022. Korea and Thailand were previously LeMaitre’s two largest international distributors.
Jacob Petersen, VP of Asia-Pacific, said “We are thrilled to continue our APAC expansion. Thailand will be LeMaitre’s 8th direct country in APAC, and we now expect to be greater than 90% direct in APAC.”
Business Outlook
Guidance on how this transaction may affect LeMaitre’s 2023 revenue, operating income and EPS expectations will be provided at the Company’s Q1 2023 earnings call.
About LeMaitre Vascular
LeMaitre 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 Company develops, manufactures and markets disposable and implantable vascular devices to address the needs of its core customer, the vascular surgeon. LeMaitre is a registered trademark of LeMaitre Vascular, Inc. This press release may include other trademarks and trade names of the Company. For more information about the Company, please visit http://www.lemaitre.com.
Contact:
LeMaitre Vascular, Inc.
Sandra Millar
+1-781-425-1686
smillar@lemaitre.com
