AngioDynamics, a provider of minimally invasive devices, is set to purchase Navilyst Medical for $372m.
Navilyst provides vascular access, interventional radiology, interventional cardiology devices and is also involved in the diagnosis and treatment of vascular diseases.
Navilyst Medical was formed, when Avista Capital Partners has acquired Boston Scientific’s Fluid Management and Venous Access businesses in 2008.
AngioDynamics president and CEO Joseph DeVivo said the acquisition strengthens the company’s current business by enabling them to focus on their key channels including Vascular Access, Peripheral Vascular and Oncology/Surgery and accelerates the ability of their global sales leaders to focus on key clinical call points.
"At the same time, the acquisition creates an platform for future revenue and earnings growth, as well as substantial cash flow generation leading to increase value for our shareholders," DeVivo said.
"Going forward, we will expand our geographic footprint and be in an even better position to accelerate our strong international sales growth from added scale and the power of the global NAMIC brand."