AngioDynamics has announced it has completed its acquisition of Vortex Medical, according to a news release.
Vortex, based in Norwell, Mass., focuses on the development of medical devices for the removal of thrombus from occluded blood vessels.
According to earlier reports, AngioDynamics acquired Vortex for $15 million plus future earn out payments based on net sales of Vortex's AngioVac system over a 10-year period.
"Blood clots affect more than a million patients every year, and today we acquired a highly differentiated technology that has the potential to revolutionize how treatment is provided," said Joseph M. DeVivo, president and CEO of AngioDynamics, in the release. "The acquisition of Vortex affirms the strategy we laid out at the beginning of the year, which includes focusing our investments on innovative products that offer the potential for profitable, sustainable growth."
The AngioVac system includes the AngioVac Cannula and Circuit, both of which are FDA-cleared for use during extracorporeal bypass for up to six hours.
AngioDynamics is headquartered in Latham, N.Y.
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