Under the terms of the definitive agreement, AngioDynamics will acquire certain assets of Microsulis Medical for an upfront cash payment of $10.0 million, and $5.0 million on December 31, 2013, utilizing cash on hand. AngioDynamics will also assume up to $1 million of liabilities. Microsulis stakeholders could also receive additional cash consideration, based on Microsulis' performance over the next nine years. The transaction is expected to be neutral to the Company's fiscal 2013 non-GAAP earnings and accretive to fiscal 2014 non-GAAP earnings. Subject to customary conditions, AngioDynamics expects to close the transaction by the end of January 2013.
AngioDynamics Inc. is a leading provider of innovative, minimally invasive medical devices used by professional healthcare providers for vascular access, surgery, peripheral vascular disease and oncology. AngioDynamics' diverse product lines include market-leading ablation systems, fluid management systems, vascular access products, angiographic products and accessories, angioplasty products, drainage products, thrombolytic products and venous products. More information is available at www.AngioDynamics.com .
TrademarksAngioDynamics, the AngioDynamics logo and NanoKnife are trademarks and/or registered trademarks of AngioDynamics Inc., an affiliate or a subsidiary. Safe Harbor This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements regarding AngioDynamics' expected future financial position, results of operations, cash flows, business strategy, budgets, projected costs, capital expenditures, products, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include the words such as "expects," "reaffirms," "intends," "anticipates," "plans," "believes," "seeks," "estimates," "optimistic," or variations of such words and similar expressions, are forward-looking statements. These forward looking statements are not guarantees of future performance and are subject to risks and uncertainties. Investors are cautioned that actual events or results may differ from AngioDynamics' expectations. Factors that may affect the actual results achieved by AngioDynamics include, without limitation, the ability of AngioDynamics to develop its existing and new products, technological advances and patents attained by competitors, future actions by the FDA or other regulatory agencies, domestic and foreign health care reforms and government regulations, results of pending or future clinical trials, overall economic conditions, the results of on-going litigation, the effects of economic, credit and capital market conditions, general market conditions, market acceptance, foreign currency exchange rate fluctuations, the effects on pricing from group purchasing organizations and competition, the ability of AngioDynamics to integrate purchased businesses, including Navilyst Medical and its products, R&D capabilities, infrastructure and employees as well as the risk factors listed from time to time in AngioDynamics' SEC filings, including but not limited to its Annual Report on Form 10-K for the year ended May 31, 2012. AngioDynamics does not assume any obligation to publicly update or revise any forward-looking statements for any reason.
CONTACT: Company Contact: AngioDynamics, Inc. Mark Frost, CFO (800) 772-6446 x1981 mfrost@AngioDynamics.com Investor Relations Contacts: EVC Group, Inc. Greg Gin/Robert Jones (646) 445-4801; (646) 201-5447 firstname.lastname@example.org; email@example.com Media Contact: EVC Group, Inc. Amy Phillips (412) 327-9499 firstname.lastname@example.org