Spectrum Vascular acquired PICC and Midline Product Portfolios from AngioDynamics, Inc. for $45 million.
February 14, 2024
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Spectrum Vascular acquired PICC and Midline Product Portfolios from AngioDynamics, Inc. (NasdaqGS:ANGO) for $45 million on February 15, 2024. Under the terms of the asset purchase agreement, the consideration consists of $34.5 million in cash paid at closing, an earnout related to sales of the divested products over the next two years equal to $5.5 million, and a milestone payment of $5 million paid upon final transfer of the manufacturing of the divested products to a third-party manufacturer. The transaction consists of AngioDynamics? PICC, Midline and tip location products. This combined portfolio of products contributed approximately $43.5 million in annual sales during AngioDynamics? fiscal year 2023. UBS Investment Bank is serving as financial advisor, and Cadwalader, Wickersham & Taft is serving as legal advisor to AngioDynamics. Fried Frank is serving as legal advisor to Specturm Vascular.
Spectrum Vascular completed the acquisition of PICC and Midline Product Portfolios from AngioDynamics, Inc. (NasdaqGS:ANGO) on February 15, 2024.
AngioDynamics, Inc. is a transformative medical technology company. The Company is focused on restoring healthy blood flow in the body's vascular system, expanding cancer treatment options and improving quality of life for patients. It designs, manufactures, and sells a range of medical, surgical and diagnostic devices used by professional healthcare providers for vascular access, for the treatment of peripheral vascular disease and for use in oncology and surgical settings. Its devices are generally used in minimally invasive, image-guided procedures. Its segments include Med Tech and Med Device. Its product categories include oncology, venous therapies, vascular interventions, and ports. Its oncology products include Model 1500X RF Generator, IsoLoc Endorectal Balloon, Habib 4X Laparoscopic Bipolar Resection Device, Habib 4X Bipolar Resection Device, and Alatus. Its venous therapies include VenaCure EVLT 1470 Pro Laser, VenaCure EVLT System, VenaCure EVLT Procedure Packs, and others.
ANGIODYNAMICS, INC. 
