AngioDynamics announced that it has entered into a definitive agreement to sell its NAMIC fluid management portfolio to Medline Industries for $167.5 M. The transaction consists of AngioDynamics’ NAMIC brand and its extensive offering of manifolds, contrast management systems, closed fluid systems, guidewires, disposable transducers, and interventional accessories. Additionally, AngioDynamics’ primary Glens Falls, New York manufacturing facility, including all related manufacturing jobs and the sales & marketing teams that support the NAMIC business, will be acquired by Medline as part of the transaction. Upon completion of the transaction, AngioDynamics intends to use the net cash proceeds of approximately $160.0M to pay down all outstanding debt. The cash balance of approximately $74.0M will be used to support strategic investments in the company’s existing portfolio to drive enhanced growth and future profitability.
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