The M&A’s just keep coming this week as AngioDynamics announced a plan acquire Eximo Medical. Latham, NY-based AngioDynamics will pick up the company for about $46 million in up-front consideration with the possibility of up to $20 million in milestones.
The announcement comes a day after Lantheus Holdings revealed its intention to acquire Progenics Pharmaceuticals.
Eximo has developed technology that delivers short, high-powered pulsed-laser energy in 355nm wavelength without compromising the integrity of its fiber optic cables during atherectomy procedures. The technology addresses the risk of perforation through tissue selectivity, addresses the risk of embolization to the patient through the availability of aspiration and is indicated to provide treatment for In-Stent Restenosis (ISR).
Additionally, Eximo’s laser technology has been cleared by FDA for use in the treatment of Peripheral Artery Disease.
This transaction expands AngioDynamics’ existing Vascular Interventions and Therapies (VIT) product portfolio by adding Eximo’s laser technology. The Eximo technology complements AngioDynamics’ leading thrombus management and venous insufficiency technologies.
“The acquisition of Eximo brings a remarkable, foundational technology to our portfolio that will change the way caregivers deliver treatment to patients with PAD,” Jim Clemmer, president and CEO, of AngioDynamics, said in a release. “The market is ripe for disruption, and the level of precision, safety, and efficiency offered to physicians by this laser technology creates a substantially differentiated alternative to legacy atherectomy devices.”
Last year, during an investor’s call, Clemmer said the company was ready for M&A and could participate in divestitures without significant disruption. Since that announcement, AnagioDynamics acquired RadiaDyne, a developer of a radiation dose monitoring platform; and divested the Namic Fluid Management Portfolio to Medline Industries for $167.5 million.