AngioDynamics Sells Dialysis Product Portfolio and BioSentry Product to Merit Medical

June 8, 2023—AngioDynamics, Inc. announced that it has completed the sale of its dialysis product portfolio and BioSentry tract sealant system biopsy product to Merit Medical Systems, Inc. for $100 million in cash.

The transaction consists of AngioDynamics’ DuraFlow, DuraMax, Evenmore, Schon XL, Trio-CT, and Vaxel Plus hemodialysis catheter brands as well as the BioSentry tract sealant system biopsy brand. This combined portfolio of products contributed approximately $32 million in sales in AngioDynamics’ fiscal year 2023.

Jim Clemmer, President and Chief Executive Officer of AngioDynamics, commented in the company’s press release, “I am excited to announce this divestiture, which supports our focus on our high-growth Med Tech platforms. 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.”

He continued, “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.”

Mr. Clemmer added, “Through this acquisition, Merit gains well-recognized and dependable products from our med device portfolio that clinicians trust to provide the best patient care. We are pleased that Merit, a leading global manufacturer and marketer of health care technology, is acquiring our dialysis brands and BioSentry biopsy product.”

According to the company, AngioDynamics intends to use net proceeds to eliminate its existing debt and support further strategic investments in growth and profitability. The divested assets are included in the company’s medical device business and do not have a significant amount of direct costs.