Interventional technology provider AngioDynamics of Queensbury, NY, and oncology and medical device developer RITA Medical Systems of Fremont, CA, have signed a definitive agreement in whereby AngioDynamics will acquire RITA for approximately $220 million plus the assumption of approximately $3.3 million in net debt.
The deal will create a diversified medical technology company with a broad line of access, diagnostic, and therapeutic products that enable interventional physicians and surgeons to treat peripheral vascular diseases and cancerous tumors, according to AngioDynamics.
The boards of directors of both companies unanimously approved the acquisition, which is anticipated to close by the end of the first calendar quarter of 2007, subject to regulatory review, approval by the companies' shareholders, and other customary closing conditions, the company said.
By AuntMinnie.com staff writers
November 8, 2006
Related Reading
AngioDynamics gets clearance for soft-tissue ablation technology, November 28, 2006
RITA boosts sales, trims losses in Q3, November 8, 2006
RITA initiates RFA lumpectomy study, October 26, 2006
AngioDynamics to acquire Oncobionic, October 18, 2006
RITA increases sales, losses in Q2, August 9, 2006
RITA launches LC Bead embolization, July 11, 2006
Copyright © 2006 AuntMinnie.com
