The deal will add RadiaDyne’s early-stage OARtrac real-time radiation dose monitoring platform and its IsoLoc, ImmobiLoc and Alatus balloon stabilizing technologies to Latham, N.Y.-based AngioDynamic’s oncology portfolio, the company said.
“The acquisition of RadiaDyne, combined with our recent BioSentry asset purchase, delivers on our commitment to build a world-class oncology portfolio. 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,” AngioDynamics prez & CEO Jim Clemmer said in a press release.
The OARtrac system is designed to provide real-time does measurements through an intracavitary device, AngioDynamics said. The system is intended to provide critical dose feedback to oncologists to reduce side effects and improve clinical outcomes for radiation and photon beam therapies.
The newly acquired IsoLoc and ImmobiLoc systems are intended to remove transient rectal gas using a gas-release tip and to reduce prostate motion and radiation toxicity. The Alatus vaginal balloon packing system is intended to provide improved optimal dosimetry protection and decreased complications during procedures, the company said.
“We are excited that AngioDynamics chose to acquire RadiaDyne. We are proud of our technologies, which improve radiation delivery and lower side effects for patients undergoing radiation therapy for cancer treatment. This partnership immediately strengthens our commercial infrastructure, allowing us to deliver the benefits of our innovative products to a wider patient population,” RadiaDyne founder & CEO John Isham said in a prepared statement.
AngioDynamics said that its 12-month trailing revenues exceeded $6 million, and that it expects the acquisition to close by the end of September and be neutral to its earnings on an adjusted basis.
Last month, AngioDynamics said that it acquired Surgical Specialties’ BioSentry Tract Sealant assets for an undisclosed amount, and touted a recent legal win in a case against Becton Dickinson & Co. (NYSE:BDX) subsidiary C.R. Bard.
Steve MacMillan took over as CEO of Hologic in 2013, drawing on his experience at medtech titans like Stryker and Johnson & Johnson. Since then, Hologic has grown into a $3 billion business.
At DeviceTalks Boston, MacMillan will provide exclusive insights into the Massachusetts-based company and its evolving definition of women's healthcare. You don't want to miss it!
Use code WOMENSHEALTH to save an additional 10%.