News | March 25, 2008

LMA Expands Product Offering with Purchase of Pain Management Business

March 26, 2008 - LMA International recently announced it acquired the pain management business of Breg Inc., a California-based provider of premium orthopedic, reconstructive and postoperative products and a subsidiary of Orthofix International N.V.

This latest development follows the Group’s acquisition of the PerfecTemp, an innovative patient warming device, in October 2007, in line with LMA’s strategy to acquire products and businesses to strengthen its position as a leading anesthesia-related medical device company.

The group’s wholly-owned subsidiaries LMA North America Inc. and LMA Medical Innovations Ltd. will acquire all the intellectual property, related business assets and distribution rights to the Pain Care range of ambulatory infusion pumps in the U.S. and International markets for a potential consideration of $6.88 million. An initial sum of $5.88 million is payable in cash on completion of the transaction, with the remaining sum to be paid based on the achievement of a revenue benchmark in the first six months post acquisition.

LMA has entered into an agreement with Breg to secure the manufacturing of the Pain Care ambulatory infusion pumps for a transitional period of up to 18 months post acquisition. The infusion pumps are designed to provide direct wound site pain relief without the side-effects of narcotics. The pumps offer a continuous drip that automatically dispenses the appropriate amount of medication for easy, hands-free operation and aid in earlier ambulation, increased mobility, faster recovery and shorter hospital stays.

The total market size for ambulatory infusion pumps in the U.S. is estimated to be about $115 million and is expected to grow as healthcare organizations continue to focus on lowering medical costs and shortening hospital stays. Sales of ambulatory infusion pumps in the U.S. over the last 12 months amounted to $4.5 million. LMA expects to expand sales of this device to the international markets in 2008.

“We are excited about the addition of ambulatory infusion pumps to our family of medical devices, especially as we can leverage the existing sales teams of our LMA airway management devices,” said Steve Block, president and CEO of LMANA. “This new device is also used by anesthesiologists and will strengthen our relationships with our existing customer base and group purchasing organizations as we can now offer a wider basket of products.”

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