Healthcare company Medline has completed the proposed acquisition of NAMIC fluid management portfolio from medical devices firm AngioDynamics for $167.5m.

The portfolio includes cardiac catheterisation solutions, and the transaction covers the NAMIC brand, contrast management and closed fluid systems, guidewires, disposable transducers and interventional accessories.

Proposed in April this year, the deal also comprises AngioDynamics manufacturing facility at Glens Falls, New York, US, that produces injection moulded components and kits.

AngioDynamics has used a portion of the approximate $160m net proceeds to pay off all of its outstanding debt.

The company plans to combine its approximately $80m post-transaction cash balance with an additional $125m revolving line of credit for organic and inorganic investments to support growth and future profitability.

AngioDynamics president and CEO Jim Clemmer said: “We are very pleased to have completed the divestiture of the NAMIC fluid management business, which is a critical step in our ongoing portfolio optimisation efforts.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“The proceeds from this transaction enable us to further accelerate our strategic investments in key therapeutic areas and to advance our propriety medical technologies, including AngioVac, BioFlo, and the NanoKnife System, to address the unmet needs of patients around the globe.”

“We are very pleased to have completed the divestiture of the NAMIC fluid management business.”

Medline noted that the transaction combines its customer base, distribution scale and medical kitting experience with the brand presence of NAMIC.

Following completion of the transaction, the NAMIC business will run as a new unit of Medline with a focus on Cath Lab products and solutions.

The acquisition will see the transition of around 330 AngioDynamics employees to Medline. In addition, 14 sales reps across the US, Canada and Europe will become part of the Medline sales team.