AngioDynamics Signs Multi-Year, Sole-Source Agreement with Large Integrated Delivery Network Group
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Press release date: October 10, 2013
ALBANY, N.Y. – AngioDynamics (Nasdaq:ANGO), a leading provider of innovative, minimally invasive medical devices for vascular access, surgery, peripheral vascular disease and oncology, announced that it has signed a sole-source, three-year port product agreement with the Large Integrated Delivery Network Group (LIDN) - a group formed by eight IDNs from large Premier, Inc. member healthcare systems, including Adventist Health, Carolinas Healthcare System, Fairview Health System, Henry Ford Health System, Methodist Health System, Norton Healthcare, Park Nicollet, and Texas Health Resources, in order to transform supply chain services.
"The comprehensiveness of our Vascular Access product line following the Navilyst transaction has allowed us to execute a strategy focused on deeper penetration of GPOs and IDNs," said Joseph M. DeVivo, President and CEO of AngioDynamics. "The LIDN's choice of our ports illustrates the promise in this opportunity, demonstrating our ability to increase our patient and product volume by capitalizing on opportunities to gain momentum in the U.S."
Under the terms of the agreement, effective November 1, 2013, AngioDynamics' entire port line, including its new BioFlo Ports, will be available to approximately 130 hospitals in the group that utilize ports. Annually, LIDN Members accounts for approximately $3.8 billion in healthcare spend, with up to $4 million being spent specifically on implantable ports.
"We are pleased to bring value to the LIDN and its member companies by offering our quality port products, including our recently FDA-cleared BioFlo ports," said Scott Centea, AngioDynamics' Director of Corporate Accounts. "Featuring Endexo technology, BioFlo ports are designed to reduce the accumulation of catheter-related thrombus on, and in, the port catheter, highlighting the innovative technologies in our comprehensive port portfolio."
AngioDynamics Inc. is a leading provider of innovative, minimally invasive medical devices used by professional healthcare providers for vascular access, surgery, peripheral vascular disease and oncology. AngioDynamics' diverse product lines include market-leading ablation systems, fluid management systems, vascular access products, angiographic products and accessories, angioplasty products, drainage products, thrombolytic products and venous products. More information is available at www.AngioDynamics.com.
AngioDynamics, the AngioDynamics logo, BioFlo and Navilyst are trademarks and/or registered trademarks of AngioDynamics Inc., an affiliate or a subsidiary. Endexo is a trademark of Interface Biologics.
Mark Frost, CFO
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