LATHAM, N.Y.--(BUSINESS WIRE)--Sep. 13, 2018--
AngioDynamics, Inc. (NASDAQ:ANGO), a leading provider of innovative,
minimally invasive medical devices for vascular access, peripheral
vascular disease and oncology, today announced an agreement to acquire
RadiaDyne, a privately held medical diagnostic and device company that
designs and develops patient dose monitoring technology to improve
cancer treatment outcomes.
This transaction expands AngioDynamics’ growing Oncology business by
adding RadiaDyne’s early-stage, proprietary OARtrac®
real-time radiation dose monitoring platform and other market-leading
oncology solutions, including the IsoLoc®/ImmobiLoc®
and Alatus® balloon stabilizing technologies.
“The acquisition of RadiaDyne, combined with our recent BioSentry asset
purchase, delivers on our commitment to build a world-class oncology
portfolio,” said Jim Clemmer, President and Chief Executive Officer of
AngioDynamics, Inc. “We believe that together, these disruptive,
patient-focused technologies will deliver safer, clinically-relevant,
economically-favorable solutions for patients. This combination will
significantly expand our value proposition and meaningfully change how
care is delivered.”
RadiaDyne’s recently launched OARtrac® system provides
precise, real-time measurement via a proprietary intracavitary device.
The system delivers critical dose feedback to medical and radiation
oncologists, providing customized adaptive radiotherapy, reduced side
effects, and improved clinical outcomes across all forms of radiation
and photon beam therapy.
RadiaDyne’s market-leading endorectal technology, IsoLoc®/ImmobiLoc®,
removes transient rectal gas using a patented gas-release tip and
reliably reduces prostate motion and radiation toxicity. RadiaDyne’s
Alatus® Vaginal Balloon Packing System provides physicians
with an improved method for optimal dosimetry protection and decreased
complications. Both patient-centric technologies improve clinical
outcomes and are used widely in practice today.
“We are excited that AngioDynamics chose to acquire RadiaDyne,” said
John Isham, Founder and Chief Executive Officer of RadiaDyne. “We are
proud of our technologies, which improve radiation delivery and lower
side effects for patients undergoing radiation therapy for cancer
treatment. This partnership immediately strengthens our commercial
infrastructure, allowing us to deliver the benefits of our innovative
products to a wider patient population.”
RadiaDyne’s trailing 12-months revenues exceeded $6 million, and the
acquisition is expected to close by the end of September and be neutral
to earnings on an adjusted basis.
Deutsche Bank Securities Inc. served as the exclusive financial advisor
AngioDynamics, Inc. (NASDAQ: ANGO), is a leading provider of innovative,
minimally invasive medical devices used by professional healthcare
providers for vascular access, peripheral vascular disease and oncology.
AngioDynamics’ diverse product lines include market-leading ablation
systems, fluid management systems, vascular access products,
angiographic products and accessories drainage products, thrombolytic
products and venous products. For more information, visit www.angiodynamics.com.
This release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. All statements
regarding AngioDynamics' expected future financial position, results of
operations, cash flows, business strategy, budgets, projected costs,
capital expenditures, products, competitive positions, growth
opportunities, plans and objectives of management for future operations,
as well as statements that include the words such as "expects,"
"reaffirms," "intends," "anticipates," "plans," "believes," "seeks,"
"estimates," "optimistic," or variations of such words and similar
expressions, are forward-looking statements. These forward-looking
statements are not guarantees of future performance and are subject to
risks and uncertainties. Investors are cautioned that actual events or
results may differ from AngioDynamics' expectations. Factors that may
affect the actual results achieved by AngioDynamics include, without
limitation, the ability of AngioDynamics to develop its existing and new
products, technological advances and patents attained by competitors,
infringement of AngioDynamics' technology or assertions that
AngioDynamics' technology infringes the technology of fourth parties,
the ability of AngioDynamics to effectively compete against competitors
that have substantially greater resources, future actions by the FDA or
other regulatory agencies, domestic and foreign health care reforms and
government regulations, results of pending or future clinical trials,
overall economic conditions, the results of on-going litigation,
challenges with respect to fourth-party distributors or joint venture
partners or collaborators, the results of sales efforts, the effects of
product recalls and product liability claims, changes in key personnel,
the ability of AngioDynamics to execute on strategic initiatives, the
effects of economic, credit and capital market conditions, general
market conditions, market acceptance, foreign currency exchange rate
fluctuations, the effects on pricing from group purchasing organizations
and competition, the ability of AngioDynamics to integrate purchased
businesses, as well as the risk factors listed from time to time in
AngioDynamics'SEC filings, including but not limited to its Annual
Report on Form 10-K for the year ended May 31, 2018. AngioDynamics does
not assume any obligation to publicly update or revise any
forward-looking statements for any reason.
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Source: AngioDynamics, Inc.