With the acquisition, AngioDynamics is expected to double its share of the vascular access market, build critical mass in the peripheral vascular market and establish a strong operating platform for future growth.

AngioDynamics president and chief executive officer Joseph DeVivo said AngioDynamics is a stronger and more competitive company as a result of scale, technology and talent gained by this acquisition.

"Our integration plan is underway and we are excited to begin creating the new AngioDynamics," DeVivo said.

The transaction was financed through the issuance of approximately 9.5 million shares of AngioDynamics Common Stock, $150m in drawn acquisition debt financing, and $97m of balance sheet cash.

The company has placed $20m of purchase consideration in escrow in order to satisfy any working capital adjustment and potential indemnification claims.

As a result of the acquisition, Avista Capital Partners has entered into a stockholders agreement with AngioDynamics and investment funds affiliated with Avista received about 9.4 million shares of the company’s Common Stock.

AngioDynamics is a provider of innovative, minimally invasive medical devices for vascular access, surgery, peripheral vascular disease and oncology.