Fierce Biotech February 16, 2024
After kicking off 2024 with the news that it had begun restructuring its manufacturing footprint, and following last summer’s sell-off of two product portfolios, AngioDynamics is putting more of its vascular devices on the chopping block.
The Latham, N.Y.-based company has inked a deal to sell off its peripherally inserted central catheter (PICC), midline and tip location products to Spectrum Vascular, it announced late Thursday. The deal saw Spectrum shell out $34.5 million at the deal’s closing while pledging to pay another $5.5 million in earnout payments based on the products’ sales over the next two years. AngioDynamics will also net a $5 million milestone payment once the devices’ production has been transferred to a third-party manufacturer.
Meanwhile, AngioDynamics announced...
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