AngioDynamics, a medical devices company, has completed its acquisition of Navilyst Medical, a portfolio company of Avista Capital Partners. Based on AngioDynamics recent closing price of $12.44 a share the transaction is valued at $355 million. As a result of the acquisition, Avista Capital Partners received approximately 9.4 million shares of AngioDynamics common stock in the transaction and entered into a stockholders agreement with the company.
Navilyst Medical is a manufacturer and distributor of single use fluid management and venous access medical devices. Navilyst Medical was formed in February 2008 to acquire the Fluid Management and Venuous Access businesses from Boston Scientific Corporation. The company is based in Marlborough, MA (www.navilystmedical.com).
AngioDynamics is a provider of minimally invasive medical devices used by healthcare providers for vascular access, surgery, peripheral vascular disease and oncology. The company’s product line include ablation systems, vascular access products, angiographic products and accessories, angioplasty products, drainage products, thrombolytic products and venous products. AngioDynamics is based in Latham, NY (www.AngioDynamics.com).
Avista Capital Partners makes control or influential minority investments in growth-oriented healthcare, energy, and media companies as well as select industrial and consumer businesses. The firm was founded in 2005 and is based in New York, NY with offices in Houston, TX and London, UK (www.avistacap.com).
