Albany, NY, device outfit AngioDynamics is planning to consolidate two of its plants, shedding up to 100 employees in an effort to save as much as $18 million over the next three years.
Flat sales dogged AngioDynamics' 2014 first quarter. But the New York maker of surgical tools and vascular devices narrowed losses to a trickle, and the company boosted its revenue expectations for the rest of the fiscal year. Investors reacted favorably, considering that earnings, such as they are, were better than expected.
AngioDynamics closed off its 2013 fiscal fourth quarter with a net loss that's nearly wiped out, lower net sales in some areas and a surge in other divisions such as oncology/surgery devices and surgical tools. Acquisitions and newly approved products continued to benefit the New York company.
Foes of the 2.3% tax on medical device revenue have been making their case to lawmakers for years, and now they're looping in the workers who could be affected by the charge, hosting sessions to educate employees on what they can do support the repeal effort.
After a fiscal 2013 second quarter that grew like gangbusters, AngioDynamics warns that its third quarter numbers will come in below earlier, rosier projections. Investors reacted harshly, driving the stock down 12% in trading late Friday morning to just over $11.
AngioDynamics is spending $15 million to acquire minimally invasive microwave ablation technology from Microsulis Medical.
AngioDynamics is roaring into its 2013 fiscal year with soaring sales, driven by a boost from acquisitions, new products and also increased international demand.
The market for ablation devices stands to grow the most among all nonvascular interventional radiology devices in the U.S. over the next several years, the Millennium Research Group concludes in a new report.
AngioDynamics is back on the buyer's block, agreeing to pay $55 million over 5 years for Vortex Medical, maker of devices to remove clots from clogged vessels.
AngioDynamics ($ANGO) has agreed to buy rival Navilyst Medical, which focuses on vascular access, interventional radiology and interventional cardiology, in a deal valued at $372 million. The buy is...