AngioDynamics Acquires Vortex Medical for $55,000,000
- Feed Type
- 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
- 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.
