AngioDynamics buys Eximo Medical and its 355nm Laser Atherectomy tech

Owing to widescale tobacco use, the world is seeing an increased number of cancer and vascular diseases. India alone registers more than 10 million cases of peripheral artery disease on an annual basis. Technology and healthcare enterprises are increasingly innovating novel, non-invasive medical devices to treat peripheral artery disease.

AngioDynamics, Inc., a renowned innovative, non-invasive medical device provider for oncology, vascular access and peripheral vascular disease, reportedly announced that it acquired Israel-based early stage medical device company, Eximo Medical, Ltd., as well as its proprietary 355nm Laser Atherectomy technology for $46 million.

The $46 million would be given in upfront consideration with approximately $20 million worth of contingent consideration subject to completion of certain revenue and technical milestones. AngioDynamics would be funding the transaction exclusively using cash on hand.

The acquisition further expands AngioDynamics’ current product portfolio of Vascular Interventions and Therapies (VIT) through Eximo’s laser technology, which boasts of 510(k) clearance for treating Peripheral Artery Disease (PAD). Israeli company’s technology greatly compliments AngioDynamics’ industry leading venous insufficiency and thrombus management technologies.

The President and CEO of AngioDynamics, Jim Clemmer stated that the takeover brings a remarkable technology to the company’s portfolio, helping it change the way caregivers provide treatments to PAD patients. Clemmer added that the industry is ripe for a disruption, the overall level of safety, precision, and efficiency facilitated by this technology to physicians creates a significantly differentiated alternative to conventional atherectomy devices.

Distinguished from conventional medical devices, the laser atherectomy technology of Eximo is the only platform capable of facilitating high-powered, short pulsed laser in a 355nm wavelength without having to compromise on its fiber optic cable integrity during the atherectomy procedures.

The technology efficiently addresses the perforation risk through tissue selectivity, addressing the risk of embolization for the patient using the availability of aspiration. It is also indicated to treat In-Stent Restenosis (ISR), a gradual, re-narrowing of the patient’s artery after the blockages have been treated with a stent previously.

Moreover, the Eximo laser technology further advances patient treatment alternatives and care by addressing a plethora of PAD lesion types both below- and above-the-knee.

AngioDynamics management was scheduled to discuss the acquisition transaction during the company’s FY2020 First Quarter Financial Results Conference Call on October 3, 2019.

Source credit: https://www.businesswire.com/news/home/20191003005184/en/AngioDynamics-Acquires-Eximo-Medical-Ltd.-Innovative-355nm