Spectrum Vascular completed the acquisition of the PICC and Midline product portfolios from AngioDynamics for $45m.

Spectrum Vascular, a medical device company, completed the acquisition of the PICC and Midline product portfolios from AngioDynamics, a medical technology company, for $45m. “Today’s divestiture is another significant milestone in our transformation and supports our focus on driving increased penetration of our Med Tech platforms in high-growth markets. It builds upon the divestiture of our Dialysis and Biosentry businesses that we announced in June as well as the plan we announced in January to streamline our manufacturing operations. This transaction, combined with the discontinuation of our radiofrequency ablation and Syntrax products, further strengthens our balance sheet, optimizes our product portfolio and deepens our strategic focus on driving growth and profitability within our NanoKnife, Mechanical Thrombectomy and Auryon businesses,” Jim Clemmer, AngioDynamics President and CEO.