{"id":36589,"date":"2023-08-15T18:10:10","date_gmt":"2023-08-15T22:10:10","guid":{"rendered":"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/?p=36589"},"modified":"2023-08-15T18:10:10","modified_gmt":"2023-08-15T22:10:10","slug":"angiodynamics-sells-two-of-its-product-lines-to-merit-medical-systems-in-utah","status":"publish","type":"post","link":"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2023\/08\/angiodynamics-sells-two-of-its-product-lines-to-merit-medical-systems-in-utah\/","title":{"rendered":"AngioDynamics Sells Two Of Its Product Lines To Merit Medical Systems In Utah"},"content":{"rendered":"
AngioDynamics, which has manufacturing plants in Queensbury and Lake George, has sold its dialysis and BioSentry biopsy product lines to Merit Medical Systems of Utah.<\/p>\n
The sale price was reportedly $100 million in cash.<\/p>\n
The sale includes Angio\u2019s DuraFlow, DuraMax and other dialysis catheter brands as well as its BioSentry lung biopsy system. Angio had acquired BioSentry for $39.8 million from Surgical Specialties of Westwood, Mass., in 2018.<\/p>\n
AngioDynamics is a medical device maker.<\/p>\n
<\/span><\/span><\/span><\/strong>Officials estimated the company generated some $32 million in sales through the dialysis and biopsy businesses during fiscal year 2023.<\/p>\n Jim Clemmer, a chief executive at AngioDynamics, said the firm will focus the company on high-growth, next-generation products for treating cancer and improving blood flow to and from the heart. He said the strategy is to transition from a vascular product company into a medical technology company.<\/p>\n \u201cThis is right in line with what our strategic direction had been, but it gives us an opportunity to do that now from a significant net-cash position and not a net-debt position in a capital market environment that is really still up in the air,\u201d said Steve Trowbridge, CFO and executive vice president.<\/p>\n Angio executives said the company had a strong fiscal year, with net sales of $338 million to $339 million.<\/p>\n","protected":false},"excerpt":{"rendered":" AngioDynamics, which has manufacturing plants in Queensbury and Lake George, has sold its dialysis and BioSentry biopsy product lines to Merit Medical Systems of Utah. The sale price was reportedly $100 million in cash. The sale includes Angio\u2019s DuraFlow, DuraMax and other dialysis catheter brands as well as its BioSentry lung biopsy system. Angio had […]<\/p>\n","protected":false},"author":89,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"yoast_head":"\r\n