AngioDynamics buys cancer treatment system
AngioDynamics has purchased a multimillion-dollar cancer treatment system from UK-based medical device company Microsulis Medical.
The acquisition included an upfront payment of $10 million in cash, and a $5 million payment at the end of this year. AngioDynamics will assume up to $1 million of the company's liabilities, as well.
AngioDynamics develops minimally invasive medical devices and has headquarters in Latham. The new technology, known as the Acculis MTA microwave ablation system, uses a single, high-power and high-frequency 2.45 GHz saline-cooled applicator that is supposed help clinicians and patients by providing faster ablation of soft tissue.
"We are excited to welcome the Microsulis team to AngioDynamics," said AngioDynamics President and CEO Joseph DeVivo in a company news release. "With the addition of microwave, we have a complete offering of thermal and non-thermal technologies, further building on our status as a market-leader in the $250 million global tissue ablation market."
In March 2012, AngioDynamics and Microsulis established a strategic relationship granting AngioDynamics exclusive distribution rights to market and sell its Accu2i pMTA microwave ablation system in all markets outside the United States through December 2013, according to a company news release posted Jan. 23. The agreement included the exclusive option to purchase all of Microsulis's global assets and certain liabilities, including its microwave ablation technology and worldwide distribution rights.
Follow @GazetteBiz on Twitter.