Interventional technology developer AngioDynamics has signed a definitive agreement to acquire Navilyst Medical for $372 million.
Navilyst Medical is a global medical device company with technology for vascular access, interventional radiology, and interventional cardiology. According to AngioDynamics, the acquisition will double the company's share of the vascular access market and expand its presence in the peripheral vascular market.
Navilyst generated sales of $149 million in 2011. AngioDynamics projected pro forma net sales of approximately $360 million in fiscal 2013.
Under the terms of the agreement, AngioDynamics will acquire Navilyst from private equity firm Avista Capital Partners, which purchased the business from Boston Scientific in 2008.
