Brief: Angiodynamics To Sell PICC And Midline Product Portfolios To Spectrum Vascular For $45 Mln

AngioDynamics

15/02/2024 21:41

Feb 15 (Reuters) - AngioDynamics Inc  ANGO.O :
    * ANGIODYNAMICS ANNOUNCES SALE OF PICC AND MIDLINE PRODUCT
PORTFOLIOS TO SPECTRUM VASCULAR FOR $45 MILLION
    * ANGIODYNAMICS INC - COMPANY TO DISCONTINUE SALES OF
RADIOFREQUENCY ABLATION AND SYNTRAX PRODUCTS
    * ANGIODYNAMICS INC -  ASSETS DIVESTED, DISCONTINUED WILL BE
ACCOUNTED FOR AS DISCONTINUED OPERATIONS, REMOVING THEIR IMPACT
FROM FISCAL 2024 RESULTS
    * ANGIODYNAMICS INC -  DIVESTITURE OF PICC AND MIDLINE
BUSINESSES
WILL REDUCE FULL-YEAR FISCAL 2024 REVENUE BY ABOUT $50 MILLION
    * ANGIODYNAMICS INC -  EXPECTS THAT DIVESTITURE OF PICC AND
MIDLINE BUSINESSES WILL BE ACCRETIVE TO FULL-YEAR FISCAL 2024
GROSS MARGIN
    * ANGIODYNAMICS INC - WILL ELIMINATE CERTAIN SALES,
MARKETING AND
OPERATIONAL EXPENSES
    * ANGIODYNAMICS INC - TRANSACTION, INCLUSIVE OF
RESTRUCTURING, IS
EXPECTED TO BE SLIGHTLY DILUTIVE TO FISCAL 2024 ADJUSTED
EARNINGS PER SHARE

Source text for Eikon:  ID:nBwc7JvCwa 
Further company coverage:  ANGO.O 

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