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AngioDynamics to Purchase Navilyst Medical for $372 million
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AngioDynamics has entered into a definitive agreement to acquire Navilyst Medical, manufacturers of devices for vascular access, interventional cardiology, interventional radiology and IV therapies, for $372 million.
This deal follows after Navilyst Medical posted sales earnings of $149 million in 2011. The acquisition is expected to expand AngioDynamics’ scale by doubling its share of the vascular access markets and building critical mass in the peripheral vascular market, an accompanying press release stated.
Looking ahead, AngioDynamics expects this acquisition to result in net sales of approximately $360 million and net cost savings of roughly $5 million to $7 million, excluding associated one-time costs, in the fiscal year of 2013, as well as acquired tax assets of $11.5 million in annual tax savings each year from fiscal year 2013 to fiscal year 2023.