This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

AngioDynamics Establishes Strategic Relationship With Microsulis Medical Ltd.

AngioDynamics (NASDAQ: ANGO), a leading provider of innovative, minimally invasive medical devices for vascular access, surgery, peripheral vascular disease and oncology, today announced a strategic relationship with privately-held Microsulis Medical Ltd. Microsulis is a medical device company specializing in minimally invasive, microwave ablation technology for the coagulation of soft tissue and has systems in more than 80 hospitals world-wide.

The strategic relationship includes the following key elements:

  • AngioDynamics has made a $5 million equity investment in Microsulis through the purchase of senior preferred stock, representing a 14.3% ownership position,
  • AngioDynamics has been granted exclusive distribution rights to market and sell the Accu2i pMTA microwave ablation system in all markets outside the United States from May 2012 through December 2013,
  • AngioDynamics has been granted the exclusive option to purchase, at any time until September 22, 2013, substantially all of the global assets of Microsulis Medical Ltd., including the microwave ablation technology and its worldwide distribution rights.

“This strategic relationship reflects the commitment to investing in the future growth of our Oncology/Surgery business, and illustrates our focus on leveraging our strong Oncology/Surgery sales team,” said Joseph M. DeVivo, President and Chief Executive Officer of AngioDynamics. “We believe Microsulis’ technology is the most innovative microwave system on the market today. The addition of this breakthrough technology will solidify AngioDynamics as the clear market-leading innovator in the $250 million global tissue ablation market, with a full offering of thermal and non-thermal technologies that includes microwave, radiofrequency and the NanoKnife ® System. We expect the agreement will have a modest revenue contribution in fiscal year 2013.”

“Over the past 15 years, Microsulis has developed what we believe to be the most technically advanced microwave ablation technology on the market today,” said Stuart McIntyre, Chief Executive Officer of Microsulis. “We are excited to have AngioDynamics, with its leading position in surgery and oncology, as our strategic partner and very much look forward to working with them in bringing our products to patients across the globe.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs