AngioDynamics To Acquire Navilyst Medical
February 07, 2012
New York based AngioDynamics which makes surgical, oncological and vascular access equipment is in a process to buy privately held Navilyst Medical from owners Avista Capital Partners in a mixed cash and stock deal valued at $372 million. The company wants Navilyst to expand its presence in the cath lab and vascular access sectors.
The deal is expected to close, pending customary closing conditions, by the end of May. Reportedly, AngioDynamics will pay for the deal with $97 million in cash on hand and a $150 million financing facility from J.P. Morgan, Bank of America and KeyBank National Association and 9.5 million shares of stock.
Navilyst which is based in Marlborough makes catheters, vascular access equipment and the NAMIC line of fluid management products. AngioDynamics expects that the deal will accrete sales, operating income and earnings per share in the next fiscal.