AngioDynamics to Acquire RadiaDyne & its Revolutionary OARtrac® Radiation Dose Monitoring Platform to Further Expand Oncolog...
September 13 2018 - 7:00AM
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.
About 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.
Safe Harbor
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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version on businesswire.com: https://www.businesswire.com/news/home/20180913005264/en/
AngioDynamics, Inc.Investor Relations:Michael
Greiner,
518-795-1821mgreiner@angiodynamics.comorMedia:Saleem Cheeks,
518-795-1174scheeks@angiodynamics.com
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