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AngioDynamics Inc (NMS: ANGO)+ to Company Analysis List
Address: 14 Plaza Drive,Latham, NY 12110 United States  |  Phone: 518 795-1400  |  Company Website: www.angiodynamics.com

Incorporated: 1988 , NY, United States

Reincorporated: 1992 , DE, United States

Auditor: DELOITTE & TOUCHE LLP

Legal Counsel: Davies Ward Phillips & Vineberg LLP

Transfer Agent: Registrar and Transfer Company, Cranford, NJ

Country:  United States

Industry: Medical Supplies (ICB 20102015)

Industry: Surgical and medical instruments (SIC 3841)

Industry: Surgical and Medical Instrument Manufacturing (NAICS 339112)

Number of Employees: 815 (Approximate Full-Time as of 05/31/2023)

Number of Shareholders: 169 (record) (as of 08/02/2023)

Market Cap: 247,867,400

Revenue: 303,914,000

Net Income: -184,349,000

EPS Basic: -4.59    EPS Diluted: -4.59

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History

Incorporated in New York in 1988. Reincorporated in Delaware in 1992 as A.D., Inc. Present name adopted in 1996.

On July 27, 2000, Co. sold all the capital stock of AngioDynamics Ltd. (Limited) and certain other assets to Limited's management. The aggregate consideration received was $3,250,000 in cash.

On Aug. 17, 2004, Co. was spun-off from E-Z-EM Inc.

On Jan. 29, 2007, Co. acquired RITA Medical Systems, Inc. (RITA) for a total purchase price of approximately $244,000,000, comprised of approximately $24,000,000 in cash, 7,900,000 shares of common stock, and assumption of outstanding RITA options and other convertible securities, which are exercisable for an additional 1,900,000 shares of Co.'s common stock.

On May 9, 2008, Co. acquired Oncobionic, Inc. (Oncobionic) pursuant to the terms of a stock purchase agreement entered into on Oct. 12, 2006. Under the stock purchase agreement, Co. agreed to pay a total purchase price of $25,400,000, including $400,000 of assumed liabilities. Co. made a payment of $5,000,000 upon the execution of the stock purchase agreement in Oct. 2006. Co. paid $10,000,000 on May 9, 2008 upon the closing of the acquisition, $5,000,000 in Nov. 2008, and $5,000,000 in Nov. 2009.

In June 17, 2008, Co. completed the acquisition of certain U.S. and U.K. assets of Diomed, Inc., for an aggregate purchase price of approximately $11,100,000 in cash including capitalized acquisition costs.

On Jan. 12, 2009, Co. completed the acquisition of certain assets of FlowMedica, Inc. for approximately $1,750,000.

On May 22, 2012, Co. completed the acquisition of privately-held NM Holding Company, Inc. The acquisition and related transaction costs were financed through the issuance of approximately 9,500,000 shares of Co.'s common stock, $150,000,000 in drawn acquisition debt financing and $97,000,000 of cash. Based on the closing price of Co.'s stock of $12.44 on the day prior to the transaction, the purchase price was approximately $361,000,000.

On Oct. 15, 2012, Co. acquired all the outstanding capital stock of Vortex Medical, Inc. The total estimated purchase consideration of $75,300,000 included an upfront payment of $15,100,000 and the estimated fair value of contingent (Earn out) consideration of $60,300,000, $40,000,000 of which is guaranteed.

During the third fiscal quarter of 2013, Co. made the decision to discontinue its Benephit product offering.

On Feb. 1, 2013, Co. completed the acquisition of certain assets of Microsulis Medical Ltd. The total estimated purchase consideration of $33,600,000 included the initial investment of $5,000,000, closing payments totaling $10,600,000, a $5,000,000 payment due on Dec. 31, 2013 and the estimated fair value of contingent consideration (Earn out) of $13,200,000.

On Aug. 15, 2013, Co. acquired all the outstanding shares of capital stock of Clinical Devices, B.V. The total purchase consideration of $8,700,000 includes an upfront payment and the estimated fair value of contingent consideration of $5,000,000.

On Aug. 14, 2018, Co. acquired the BioSentry Tract Sealant System technology from Surgical Specialties, LLC, for a total purchase price of $39,800,000 of which $37,000,000 was paid on Aug. 14, 2018 and $2,800,000 was recorded as contingent consideration.

On Sept. 21, 2018, Co. acquired RadiaDyne LLC. The aggregate purchase price of $75,000,000 included an upfront payment of $47,900,000, contingent consideration with an estimated fair value of $22,300,000, an indemnification holdback of $4,600,000 and a purchase price holdback of $200,000.

On Oct. 2, 2019, Co. acquired Eximo Medical, Ltd. The aggregate purchase price was $60,700,000 included an upfront payment of $45,800,000 and contingent consideration with an estimated fair value of $14,900,000.

On June 8, 2023, Co. sold its dialysis product portfolio and BioSentry tract sealant system biopsy product to Merit Medical Systems, Inc., a Utah corporation for a purchase price equal to $100,000,000 in cash, subject to the terms and conditions of the Asset Purchase Agreement.



History for 2023

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2023

On June 8, 2023, Co. sold its dialysis product portfolio and BioSentry tract sealant system biopsy product to Merit Medical Systems, Inc., a Utah corporation for a purchase price equal to $100,000,000 in cash, subject to the terms and conditions of the Asset Purchase Agreement.