Tuesday, July 23, 2024

AngioDynamics completes $100M sale of dialysis, BioSentry products

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Maksim Labkouski

AngioDynamics (NASDAQ:ANGO) has completed the sale of its dialysis and BioSentry product lines to Merit Medical Systems for $100M in cash, which it plans to use to eliminate debt and for strategic purposes.

The sale included AngioDynamics’ portfolio of dialysis products plus its BioSentry Tract Sealant System Biopsy product, which generated combined sales of around $32M for the company in fiscal 2023.

AngioDynamics said the deal would be dilutive to adjusted earnings per share and slightly dilutive to its gross margins.

For fiscal 2023, which ended May 31, AngioDynamics expects to report net sales of $338M to $339M, which includes sales generated by its BioSentry and dialysis products.

The company plans to issue fiscal 2024 guidance when it releases its fiscal 2023 earnings report in early July.

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