On 31 January, AngioDynamics announced that it has entered into a definitive agreement to acquire privately-held Navilyst Medical in a transaction valued at US$372 million. Navilyst Medical is a global medical device company with strengths in the vascular access, interventional radiology and interventional cardiology markets.
Avista Capital Partners acquired the business from Boston Scientific in 2008, and it generated sales of US$149 million in the calendar year 2011. A company release states that the acquisition will significantly expand AngioDynamics’ scale, doubling its share of the vascular access market while building critical mass in the peripheral vascular market.
“The acquisition of Navilyst brings AngioDynamics scale, technology and operational excellence,” said Joseph DeVivo, president and CEO of AngioDynamics. “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. I look forward to working with the excellent management team at Navilyst as we embark on this exciting opportunity for our organisations,” he added.