AngioDynamics Establishes Strategic Relationship with Microsulis Medical Ltd.
- Exclusive International Distribution Rights for Leading Microwave Ablation Products
Equity Investmentwith Exclusive Option to Purchase Technology
The strategic relationship includes the following key elements:
AngioDynamicshas made a $5 millionequity investment in Microsulisthrough the purchase of senior preferred stock, representing a 14.3% ownership position,
AngioDynamicshas been granted exclusive distribution rights to market and sell the Accu2i pMTA microwave ablation system in all markets outside the United Statesfrom May 2012through December 2013,
AngioDynamicshas been granted the exclusive option to purchase, at any time until September 22, 2013, substantially all of the global assets of Microsulis Medical Ltd., including the microwave ablation technology and its worldwide distribution rights.
"This strategic relationship reflects the commitment to investing in the
future growth of our Oncology/Surgery business, and illustrates our
focus on leveraging our strong Oncology/Surgery sales team," said
"Over the past 15 years,
Microsulis' flagship product, the Accu2i pMTA system for percutaneous
use, utilizes a single, high-power, high-frequency 2.45 GHz
saline-cooled needle that delivers significant advantages to clinicians
and patients, including faster and larger soft tissue ablations. The
device was CE Marked in
About Microsulis Medical
Microsulis Medical is a specialist medical device company with market leading solutions in microwave ablation. The company's products deliver significant technological and clinical advances to physicians and patients in minimally invasive, soft tissue ablation. More information is available at www.microsulis.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
News Provided by Acquire Media