AngioDynamics Acquires Vortex Medical for $55,000,000

  • Feed Type
  • 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
  • Transaction Type
    M&A
  • Transaction Amount
    $55,000,000
  • Transaction Round
  • Proceeds Purposes
  • 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.