AngioDynamics Acquires Vortex Medical for $55,000,000
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Feed Type
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Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=04df631c-e4ac-4828-bf80-1a7431ef3dfa&Preview=1 -
Date
10/9/2012 -
Company Name
Vortex Medical -
Mailing Address
50 Loring Drive Norwell, MA 02061 -
Company Description
The company develops and sells medical devices. -
Website
Undisclosed
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Transaction Type
M&A -
Transaction Amount
$55,000,000 -
Transaction Round
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Proceeds Purposes
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M&A Terms
Under the terms of the definitive agreement, AngioDynamics will acquire all the outstanding capital stock of Vortex Medical for $15M in cash at closing, subject to adjustment, plus future earn out payments based on net sales of the AngioVac system over a 10 year period and payable in cash. AngioDynamics will make a guaranteed minimum earn out payment of approximately $8 million per year for each of the first five years.
