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LeMaitre Vascular makes devices that surgeons use to repair or replace blood vessels and create access for dialysis, mainly in open surgery. Tissue-based offerings account for a little over half of sales. These include Artegraft vascular grafts and RestoreFlow services, which process and freeze donated human vascular and cardiac tissue for implantation. The company also sells synthetic grafts and surgical tools.
Hospitals and clinics pay for the products and services. Almost all sales come through the company’s direct-to-hospital sales force, whose main contact is the vascular surgeon; distributors serve other markets. Revenue is spread across product types and hospital customers rather than depending on one product or hospital.
The business depends heavily on continued use of open surgery rather than minimally invasive procedures performed inside blood vessels. It also needs reliable supplies of certain products from sole or limited suppliers and suitable donated tissue for RestoreFlow. U.S. device sales generally require FDA clearance or approval, while human-tissue services must meet donor-screening and processing requirements; the FDA can stop distribution or require tissue recalls or destruction if those requirements are not met.
The risk section is the longest, dullest part of the filing. This keeps only what can really hurt you: where it hits, how hard, when it plays out.
Every company claims an edge. Each one is checked against hard numbers like margins and returns: which hold, and which line gives way first.
LeMaitre's results hinge on demand for open vascular surgery and competition in grafts and tissue, including from W. L. Gore and LifeNet Health, neither of which appears in this list.
Artivion competes with LeMaitre for hospitals' spending on surgical vascular products and services that preserve human vascular and cardiac tissue for implantation. Watch Artivion's Preservation Services revenue for a read on competition facing LeMaitre's RestoreFlow tissue business.
Becton, Dickinson competes with LeMaitre for hospital and vascular-surgeon purchases: its vascular grafts and peripheral vascular devices overlap with LeMaitre's grafts and other vascular surgery products.
Elutia now competes directly with LeMaitre's biologic patches, selling cardiovascular repair patches to healthcare facilities through independent sales agents after its U.S. distribution agreement with LeMaitre ended effective May 1, 2025. Watch sales of ProxiCor, VasCure and Tyke rather than Elutia's unrelated soft-tissue reconstruction products.
AngioDynamics competes for vascular treatment procedures with LeMaitre, selling clinicians peripheral artery and clot-removal devices against LeMaitre's open-surgery products and embolectomy catheters. News on Auryon, AngioVac and AlphaVac helps track alternatives to the open surgery on which LeMaitre largely relies.
Penumbra gives physicians catheter-based ways to remove vascular clots, offering alternatives to procedures using LeMaitre's embolectomy catheters. Watch its clot-removal products for acute limb ischemia as a concrete sign of the treatment alternatives facing LeMaitre.
Merit Medical and LeMaitre serve related vascular treatment needs, so peripheral vascular treatment and dialysis-access procedure volumes matter to both, although their approaches differ. Merit's peripheral intervention and vascular-access device sales are the relevant comparison with LeMaitre's vascular surgery and dialysis-access products.
Boston Scientific's peripheral intervention devices compete with LeMaitre's open vascular surgery products for treating peripheral vascular disease. Watch its peripheral intervention business for signs of the shift toward minimally invasive treatment that LeMaitre identifies as a competitive challenge.
Abbott's peripheral vascular intervention products compete with LeMaitre's surgical devices for treating peripheral vascular disease, but vascular treatment is only one part of Abbott's broader healthcare business.
Boston Scientific Corp. earningsBSX
Boston Scientific’s peripheral intervention business offers minimally invasive treatment options, and its report can show whether clinicians are turning more to approaches that compete with LeMaitre’s open surgery products.
Look at Boston Scientific’s peripheral intervention business in the context of LeMaitre’s products, which are used largely in open surgery. Growth in that business would indicate more demand may be going to minimally invasive options, increasing the competitive pressure on LeMaitre’s procedures. Weak results would offer less evidence of that shift, but would not prove LeMaitre gained sales.
Fed Interest Rate Decision
For LeMaitre Vascular, the Fed’s rate decision matters because it can change what the company earns as its short-term investments mature and are reinvested, income it uses to help fund operations and interest on its convertible notes.
Expected4.0%Last release4.0%
If it comes in above expectations
If the policy rate is above the estimate, higher rates may lift the income LeMaitre earns as short-term investments mature or are reinvested, giving it more income to help cover operating costs and note interest.
If it comes in below expectations
If the policy rate is below the estimate, lower rates may reduce the income LeMaitre earns as short-term investments mature or are reinvested, leaving less income to help cover operating costs and note interest.
Merit Medical Systems Inc earningsMMSI
Merit Medical’s peripheral intervention and vascular-access devices serve needs related to LeMaitre’s business, and its report can show whether demand in those areas is strengthening or softening.
Watch changes in Merit Medical’s sales related to peripheral intervention and vascular-access devices, while keeping them separate from LeMaitre’s vascular-surgery and dialysis-access products. Stronger relevant sales would point to firmer demand in some of the treatment needs the companies share; weaker sales would suggest that demand may be softening. Their devices take different approaches, so this is a demand signal, not a direct measure of LeMaitre’s sales.
LeMaitre Vascular, Inc. earningsThis company
LeMaitre’s sales growth has come from both higher prices and more units shipped, and this report will show whether both are still supporting the business.
Read product sales alongside units shipped and average selling prices, then compare gross margin and the reasons the company gives for its change. If both units and prices support sales growth and margin holds without help from factors such as the 2025 Employee Retention Credit, demand and manufacturing economics are supporting growth together. If units are flat or falling while price increases do most of the work, or shipping and warehousing costs or product mix weigh on margin, growth has a narrower base and price increases are translating less well into profit.
Artivion, Inc. earningsAORT
Artivion’s Preservation Services competes for tissue-preservation needs related to LeMaitre’s RestoreFlow business, and its report can show how demand for that competing service is changing.
Focus on Artivion’s Preservation Services revenue, not on a comparison with all of LeMaitre’s device sales. Growth would indicate stronger demand for tissue-preservation services or a stronger position for Artivion, which could increase competition for RestoreFlow. A decline would mean less evidence of pressure from Artivion, but would not establish that LeMaitre won the business.
Becton, Dickinson and Co. earningsBDX
Becton Dickinson’s vascular grafts and peripheral devices compete with some of LeMaitre’s products for hospital purchases, and its report can show whether that rivalry is intensifying.
Look for results tied to Becton Dickinson’s vascular grafts and peripheral devices as a signal of competition for hospital purchases. If those products perform strongly, Becton Dickinson’s position in overlapping products appears better supported, and LeMaitre may face tougher competition for hospital orders. Weakness would offer less evidence of that pressure, but would not show that LeMaitre gained sales.
Elutia Inc. earningsELUT
Elutia’s cardiovascular repair patches, now sold independently in the United States, compete directly with LeMaitre’s biologic patches, and its report can show whether healthcare facilities are adopting them.
Focus on Elutia’s cardiovascular repair patches, including ProxiCor, VasCure and Tyke, rather than its unrelated soft-tissue reconstruction products. Stronger sales would suggest healthcare facilities are adopting a competing option, raising competitive pressure on LeMaitre’s biologic patches. Weak sales would mean less evidence that those products are gaining traction, but would not mean LeMaitre necessarily gained sales.
