AngioDynamics announced a few months ago that the company would be making an acquisition of some of the holdings of industry competitor Diomed. That acquisition has now been announced as complete which means that AngioDynamics can move forward with integration of Diomed into its business plan in both the United States and the UK.
The acquisition came at a high price of $11 million. However, it is believed that this was a smart financial move because it strengthens AngioDynamics' position in the market. This will mean that varicose vein treatment in areas served both by AngioDynamics and by Diomed can now be expanded.
The employees of Diomed's holding that were purchased in the acquisition remain a part of the company and AngioDynamics says that it's happy to welcome them into the fold. The company has optimistic hopes for the near future as a result of the completion of this deal.
Question of the Day: Will AngioDynamics be able to challenge leader VNUS Medical Technologies in the industry as a result of this acquisition?
