MedTech 100 roundup: Markets dip again

Medtech stocks continue to fluctuate amid the COVID-19 pandemic, with a significant dip in the shares belonging to the industry’s biggest names.

MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 81.88 points at the end of last week (June 26). That total represents a -3.7% decrease from the 85.00-point total at the same time a week prior (June 19), demonstrating another downturn after a 3.5% bump just one week before.

Meanwhile, the S&P 500 Index experienced a -2.9% drop from June 19 to June 26, and the Dow Jones Index fared slightly worse with a -3.3% decrease over the same period of time. Both indexes mirrored the medtech industry’s changes, having each posted marginal increases the week before.

Medtech’s lowest point during the COVID-19 pandemic remains at 62.13 on March 23. Since then, the industry’s stocks have experienced 31.8% growth in total. Stocks in the industry remai…

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LeMaitre Vascular acquires Artegraft

LeMaitre Vascular (NSDQ:LMAT) announced that it acquired the business and assets of Artegraft in a deal worth $90 million.

Under the terms of the acquisition, LeMaitre will pay $72.5 million in cash at closing, with $65 million for Artegraft, plus $7.5 million in escrow to be released on Dec. 31, 2021. There is an additional $17.5 million on the table in potential earnout payments based upon future sales.

LeMaitre will continue to operate Artegraft’s North Brunswick, N.J., manufacturing facility for at least 3.5 years and will retain most of Artegraft’s employees, including seven sales and marketing personnel.

Artegraft processes and sells biologic vascular grafts derived from bovine carotid arteries and implanted primarily in hemodialysis patients. Currently, the products are marketed under the Artegraft name and are only sold in the U.S.

According to a news release, Artegraft generated trade sales of $15.6 million and estimated hospi…

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