LATHAM -- AngioDynamics Inc. announced Thursday it has reached a deal to buy RaidaDyne, a privately held medical diagnostic and device firm.
Terms of the deal were not disclosed, but the purchase was expected to close by the end of the month, according to a company statement.
AngioDynamics is an international medical device manufacturer with headquarters in Latham and manufacturing/distribution facilities in Queensbury and Glens Falls. The company has a global workforce of 1,400, according to the firm's website.
In a prepared statement, AngioDynamics said the RadiaDyne purchase will expand the firm's oncology business with devices that provide real-time monitoring of radiation dosages and other devices.
“The acquisition of RadiaDyne, combined with our recent BioSentry asset purchase, delivers on our commitment to build a world-class oncology portfolio,” said AndgioDynamics President and CEO Jim Clemmer, in a prepared statement. “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.”
“We are proud of our technologies, which improve radiation delivery and lower side effects for patients undergoing radiation therapy for cancer treatment," said RadiaDyne Founder and CEO John Isham, in a prepared statement.
RadiaDyne realized more than $6 million in revenue over the past year. The acquisition was expected to be neutral to AngioDynamics' earnings, on an adjusted basis, according to Thursday's press release.