AngioDynamics to Acquire RadiaDyne and its Revolutionary OARtrac® Radiation Dose Monitoring Platform to Further Expand Oncology Portfolio
Thursday, September 13, 2018
Source: Business Wire
AngioDynamics, Inc. (NASDAQ:ANGO), a leading provider of innovative, minimally invasive medical devices for vascular access, peripheral vascular disease and oncology, today announced an agreement to acquire RadiaDyne, a privately held medical diagnostic and device company that designs and develops patient dose monitoring technology to improve cancer treatment outcomes.
“We are proud of our technologies, which improve radiation delivery and lower side effects for patients undergoing radiation therapy for cancer treatment. This partnership immediately strengthens our commercial infrastructure, allowing us to deliver the benefits of our innovative products to a wider patient population.”
This transaction expands AngioDynamics’ growing Oncology business by adding RadiaDyne’s early-stage, proprietary OARtrac® real-time radiation dose monitoring platform and other market-leading oncology solutions, including the IsoLoc®/ImmobiLoc® and Alatus® balloon stabilizing technologies.
“The acquisition of RadiaDyne, combined with our recent BioSentry asset purchase, delivers on our commitment to build a world-class oncology portfolio,” said Jim Clemmer, President and Chief Executive Officer of AngioDynamics, Inc. “We believe that together, these disruptive, patient-focused technologies will deliver safer, clinically-relevant, economically-favorable solutions for patients. This combination will significantly expand our value proposition and meaningfully change how care is delivered.”
RadiaDyne’s recently launched OARtrac® system provides precise, real-time measurement via a proprietary intracavitary device. The system delivers critical dose feedback to medical and radiation oncologists, providing customized adaptive radiotherapy, reduced side effects, and improved clinical outcomes across all forms of radiation and photon beam therapy.
RadiaDyne’s market-leading endorectal technology, IsoLoc®/ImmobiLoc®, removes transient rectal gas using a patented gas-release tip and reliably reduces prostate motion and radiation toxicity. RadiaDyne’s Alatus® Vaginal Balloon Packing System provides physicians with an improved method for optimal dosimetry protection and decreased complications. Both patient-centric technologies improve clinical outcomes and are used widely in practice today.
“We are excited that AngioDynamics chose to acquire RadiaDyne,” said John Isham, Founder and Chief Executive Officer of RadiaDyne. “We are proud of our technologies, which improve radiation delivery and lower side effects for patients undergoing radiation therapy for cancer treatment. This partnership immediately strengthens our commercial infrastructure, allowing us to deliver the benefits of our innovative products to a wider patient population.”
RadiaDyne’s trailing 12-months revenues exceeded $6 million, and the acquisition is expected to close by the end of September and be neutral to earnings on an adjusted basis.
Deutsche Bank Securities Inc. served as the exclusive financial advisor to AngioDynamics.