Healthcare technology company Merit Medical Systems has acquired a portfolio of dialysis catheter products and the BioSentry Biopsy Tract Sealant System from AngioDynamics for a total consideration of $100m in cash.
The deal includes AngioDynamics’ DuraFlow, DuraMax, Evenmore, Schon XL, Trio-CT, and Vaxel Plus Haemodialysis Catheter brands.
The acquired dialysis catheter portfolio also includes the BioFlo DuraMax Dialysis Catheter with Endexo Technology.
The BioSentry Biopsy Tract Sealant System acquired by Merit Medical Systems is said to complement its biopsy portfolio.
AngioDynamics expects to pay off its current debt and fund additional strategic investments in expansion and profitability with the net proceeds from the sale.
The assets that were sold are part of the company’s medical device division and do not have any substantial amount of direct expenditures.
AngioDynamics president and CEO Jim Clemmer said: “While this deal divests strong product lines, we’re pleased with the value we’ve received for these assets, as the transaction strengthens our balance sheet and better positions us to focus on driving growth in our NanoKnife, Mechanical Thrombectomy and Auryon businesses.
“This is another significant step in our transformation, and finding an excellent partner to take on these leading dialysis and biopsy assets allows our team to more tightly align around the Company’s core strategic platforms.”
Additionally, Merit Medical Systems announced the recent acquisition of the Surfacer Inside-Out Access Catheter System for $32.5m in cash from Bluegrass Vascular Technologies.
The Surfacer system is created to open the right central venous in patients having venous blockages, thereby enabling this population to access life-saving treatments like chemotherapy and haemodialysis.
Merit Medical Systems chairman and CEO Fred Lampropoulos said: “We are selectively investing to expand our product portfolio in key strategic markets that leverage our existing commercial footprint.
“These acquisitions strengthen our position in the dialysis and biopsy markets, and expand the foundation of our growing specialty dialysis device offering, which includes WRAPSODY Cell-Impermeable Endoprosthesis, HeRO Graft, and the Surfacer System devices.”
Both transactions are expected to expand Merit Medical Systems’ therapeutic platform with different dialysis product solutions and broaden its access catheter offering.
