AngioDynamics Announces Sale Of Dialysis Product Portfolio And BioSentry Product To Merit Medical Systems For $100M; Announces Preliminary FY23 Net Sales In The Range Of $338M-$339M Vs $338.83M Est.
Portfolio Pulse from Happy Mohamed
AngioDynamics has sold its Dialysis product portfolio and BioSentry Tract Sealant System Biopsy product to Merit Medical Systems for $100 million. The deal includes brands that contributed approximately $32 million in sales in AngioDynamics' Fiscal Year 2023. The company plans to use the proceeds to eliminate debt and support strategic investments in growth and profitability.
June 08, 2023 | 8:03 pm
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AngioDynamics sells Dialysis product portfolio and BioSentry product to Merit Medical Systems for $100M, which will help eliminate debt and support strategic investments in growth and profitability.
The sale of the Dialysis product portfolio and BioSentry product to Merit Medical Systems for $100 million will help AngioDynamics eliminate its existing debt and support further strategic investments in growth and profitability. This is a positive development for the company and its shareholders, as it strengthens the balance sheet and allows the company to focus on its core strategic platforms.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Merit Medical Systems acquires AngioDynamics' Dialysis product portfolio and BioSentry product for $100M, gaining well-recognized and dependable products from the Med Device portfolio.
Merit Medical Systems' acquisition of AngioDynamics' Dialysis product portfolio and BioSentry product for $100 million will add well-recognized and dependable products to its Med Device portfolio. This acquisition is expected to strengthen Merit Medical Systems' position in the healthcare technology market and provide additional revenue streams from the acquired brands.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100