Diomed to Sell Assets to AngioDynamics for $11M

4/11/08

Following on last month’s announcement that it had filed for bankruptcy and planned to sell off its assets, minimally invasive medicine firm Diomed (AMEX: DIO) of Andover, MA, now says it’s inked an $11 million deal to sell its U.S. operations and some of its U.K assets to AngioDynamics of Queensbury, NY. The agreement, which excludes a $7 million patent-suit settlement that Diomed won from AngioDynamics and an anticipated $3.6 million settlement with Vascular Solutions, represents a better offer that the one Diomed said last month it had received from the German firm Biolitec, according to a report in Mass High Tech.

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