AngioDynamics spends $15M on microwave ablation tech
|AngioDynamics is buying Microsulis' Accu2i pMTA device, designed to ablate cells with microwave energy--courtesy of Microsulis|
The company already had distribution rights to Microsulis' soft-tissue-treating device, Accu2i pMTA, but the new deal gives AngioDynamics full ownership in exchange for $10 million up front and another $5 million at the end of the year. Accu2i is CE marked and FDA-cleared.
The device is used to blast away unwanted cells, including tumors, in soft tissue, and microwave ablation is faster and more powerful at generating the necessary heat than the more-common radiofrequency variety.
AngioDynamics has partnered with Microsulis since March, and CEO Joseph DeVivo said the company has proven that its microwave ablation tool is the most innovative on the market.
"Our thermal ablation business, which generated $23 million of global sales in fiscal year 2012, has been flat over the last three years," DeVivo said in a statement. "With the addition of microwave, we expect sales to grow an average of 20% annually over the next three years at margins that are nicely accretive to our overall business."
AngioDynamics plans to launch a second generation Accu2i pMTA applicator in the U.S. after the transaction closes, DeVivo said, which the company expects to happen by the end of this month.
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