LATHAM, N.Y.--(BUSINESS WIRE)--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 to AngioDynamics.
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.