Medline Industries Acquires Namic Fluid Management Portfolio from AngioDynamics for $167.5 Million

VCBeat (WeChat ID: vcbeat) has learned that on June 5, Medline Industries announced the acquisition of AngioDynamics’ Namic fluid management portfolio for $167.5 million. The portfolio includes contrast media injection lines, contrast management systems, closed fluid systems, fluid delivery systems, disposable sensors, and Namic fluid management accessories.

In addition, AngioDynamics’ primary manufacturing facility in Glens Falls, New York, and the sales and marketing team supporting the Namic business were also acquired by Medline as part of the transaction.

AngioDynamics stated that it has used a portion of this revenue to repay debt, and that its cash balance of approximately $80 million, combined with a new $125 million revolving credit facility, will be leveraged to drive company growth.

In this acquisition transaction, Barclays PLC served as the financial advisor to AngioDynamics, and Cadwalader, Wickersham & Taft served as legal counsel to AngioDynamics.

AngioDynamics is a medical device company that designs, develops, manufactures, and markets a portfolio of therapeutic and diagnostic devices to help interventional physicians (such as interventional radiologists, vascular surgeons, and surgical oncologists) treat peripheral vascular disease (PVD), tumors, and other non-coronary conditions. The company’s products include radiofrequency ablation (RFA) systems, malignant tumor and surgical resection systems, the NanoKnife® ablation system, and embolization therapy products.

MedlineHeadquartered in Northfield, Illinois, Medline employs more than 20,000 people worldwide and operates in over 90 countries, making it the largest privately held manufacturer and distributor of medical supplies in the United States. The company offers a product portfolio of up to 350,000 items, covering nearly all services required throughout the entire continuum of care.

Jim Clemmer, President and Chief Executive Officer of AngioDynamics, stated: “Today marks another significant chapter in AngioDynamics’ transformation. Over the past three years, we have streamlined our manufacturing operations, enhanced our research and development processes, and optimized our portfolio—including this acquisition—thereby creating opportunities for the company to drive sustainable growth and increase revenue. This transaction will accelerate our highly focused investments in key therapeutic areas, including oncology and thrombosis management.”

Mr. Clemmer added, “Through this acquisition, Medline has gained an experienced and dedicated workforce committed to providing clinicians with high-quality, reliable devices to deliver optimal patient care. We welcome the Medline team into the vibrant ‘Catheter Valley’ business community.”

Medline CEO Charlie Mills stated, “Namic’s fluid management business aligns perfectly with our portfolio of medical devices and products. Medline’s market reach and support services will undoubtedly drive greater momentum for Namic’s products and enable us to better serve our customers. At present, we intend to maintain production in Glens Falls, and we look forward to joining the local business community and expanding our operations in the coming years.”

(Compiled by Li Chengping)