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AngioDynamics to Sell NAMIC Fluid Management Business to Medline Industries for USD 167.5m
Thursday 18 April 2019

18 April 2019 - US-based medical device company AngioDynamics, Inc. (NASDAQ: ANGO) has entered into a definitive agreement to sell its NAMIC fluid management portfolio to Medline Industries, Inc. for USD 167.5m, the company said.

The transaction consists of AngioDynamics' NAMIC brand and its extensive offering of manifolds, contrast management systems, closed fluid systems, guidewires, disposable transducers, and interventional accessories.

Additionally, AngioDynamics' primary Glens Falls, New York manufacturing facility, including all related manufacturing jobs and the sales and marketing teams that support the NAMIC business, will be acquired by Medline as part of the transaction.

Upon completion of the transaction, AngioDynamics plans to use the net cash proceeds of approximately USD 160m to pay down all outstanding debt.

The cash balance of approximately USD 74m will be used to support strategic investments in the company's existing portfolio to drive enhanced growth and future profitability.

AngioDynamics is a provider of medical devices used by professional healthcare providers for vascular access, peripheral vascular disease, and oncology.

The company's product lines include ablation systems, fluid management systems, vascular access products, angiographic products and accessories, drainage products, thrombolytic products and venous products.

Medline is a healthcare company. The company works with both the country's largest healthcare systems and independent facilities across the continuum of care to provide the clinical and supply chain resources required for long-term financial viability in delivering high quality care. 

With the size of one of the country's largest companies and the agility of a family-owned business, Medline is able to invest in its customers for the long-term and rapidly respond with customised solutions.

Headquartered in Northfield, Illinois., Medline has 20,000+ employees worldwide and does business in more than 90 countries.

Barclays is serving as financial advisor, and Cadwalader, Wickersham and Taft is serving as legal advisor to AngioDynamics.
Details
Date Published: 18/04/2019
Target: NAMIC,  fluid management portfolio
Country: USA
Deal Size: 167.5m (USD)
Sector: Healthcare
Type: Corporate acquisition
Financing: Cash and Stock
Status: Agreed
Vendor: Medline Industries
Buyer: AngioDynamics
Buyer Advisor: Barclays , Cadwalader, Wickersham and Taft
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