It continues to be a busy week for M&A in the medtech industry. This time around AngioDynamics is making a play to acquire RadiaDyne, the developer of a radiation dose monitoring platform, for an undisclosed sum. The deal is set to close at the end of September.
This transaction expands Latham, NY-based AngioDynamics’ growing Oncology business by adding RadiaDyne’s early-stage, OARtrac real-time radiation dose monitoring platform and other market-leading oncology solutions, including the IsoLoc/ImmobiLoc and Alatus balloon stabilizing technologies.
The acquisition follows AngioDynamics’ acquisition of the BioSentry Tract Sealant System from Surgical Specialties for an undisclosed amount in August.
“The acquisition of RadiaDyne, combined with our recent BioSentry asset purchase, delivers on our commitment to build a world-class oncology portfolio,” Jim Clemmer, president and CEO of AngioDynamics said in a release. “We believe that together, these disruptive, patient-focused technologies will deliver safer, clinically-relevant, economically-favorable solutions for patients. This combination will significantly expand our value proposition and meaningfully change how care is delivered.”
During a July earnings call, AngioDynamics CEO Jim Clemmer assured investors the company was able to execute M&A opportunities either in terms of acquisitions or divestitures.
“As we have discussed in recent quarters, one of our top strategic priorities has been portfolio optimization both internally and through value creating M&A,” Clemmer said, according to a transcript from Seeking Alpha. “Our portfolio optimization will focus on the continuum of care within oncology as well as disruptive and patient focused technologies that are differentiated and truly changing healthcare has delivered. We will continue to seek out acquisitions focused on products and technologies that fulfill unmet needs in large addressable markets and generally have high margin profiles.”