Merit Medical Systems, a leading manufacturer and distributor of medical devices, recently announced its acquisition of AngioDynamics’ catheter portfolio and biopsy system. The deal, which was valued at $167.5 million, is expected to strengthen Merit Medical’s position in the interventional oncology market.
The acquisition includes AngioDynamics’ BioSentry Tract Sealant System, which is used to prevent air and fluid leaks during lung biopsies, as well as its AccuStick Access System, which is used to access and biopsy tumors in the liver and other organs. The deal also includes AngioDynamics’ line of vascular access catheters, including its BioFlo Midline and BioFlo PICC catheters.
According to Fred P. Lampropoulos, Chairman and CEO of Merit Medical, the acquisition will allow the company to expand its product offerings and provide more comprehensive solutions to its customers. “We are excited to add AngioDynamics’ innovative products to our portfolio and believe that this acquisition will enhance our ability to provide physicians with the tools they need to improve patient outcomes,” he said in a press release.
The acquisition is also expected to benefit AngioDynamics, which will use the proceeds from the sale to pay down debt and invest in its core businesses. “This transaction allows us to focus on our strategic priorities and invest in our growth opportunities,” said Jim Clemmer, President and CEO of AngioDynamics.
The interventional oncology market is a rapidly growing segment of the healthcare industry, driven by an increasing demand for minimally invasive procedures that can treat cancer without the need for surgery. According to a report by MarketsandMarkets, the global interventional oncology market is expected to reach $2.9 billion by 2022, growing at a compound annual growth rate of 6.8% from 2017 to 2022.
With the acquisition of AngioDynamics’ catheter portfolio and biopsy system, Merit Medical is well-positioned to capitalize on this growth and expand its presence in the interventional oncology market. The company already has a strong presence in the market, with a range of products that are used in the diagnosis and treatment of cancer, including its Embosphere Microspheres and QuadraSphere Microspheres.
Overall, the acquisition of AngioDynamics’ catheter portfolio and biopsy system is a strategic move for Merit Medical, allowing the company to expand its product offerings and strengthen its position in the interventional oncology market. As the demand for minimally invasive cancer treatments continues to grow, Merit Medical is well-positioned to meet the needs of physicians and patients alike.
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- Source: Plato Data Intelligence.
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