By GlobeNewswire, October 10, 2013, 11:51:00 AM EDT
ALBANY, N.Y., Oct. 10, 2013 (GLOBE NEWSWIRE) -- 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.
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements regarding AngioDynamics' expected future financial position, results of operations, cash flows, business strategy, budgets, projected costs, capital expenditures, products, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include the words such as "expects," "reaffirms," "intends," "anticipates," "plans," "believes," "seeks," "estimates," "optimistic," or variations of such words and similar expressions, are forward-looking statements. These forward looking statements are not guarantees of future performance and are subject to risks and uncertainties. Investors are cautioned that actual events or results may differ from AngioDynamics' expectations. Factors that may affect the actual results achieved by AngioDynamics include, without limitation, the ability of AngioDynamics to develop its existing and new products, technological advances and patents attained by competitors, future actions by the FDA or other regulatory agencies, domestic and foreign health care reforms and government regulations, results of pending or future clinical trials, overall economic conditions, the results of on-going litigation, the effects of economic, credit and capital market conditions, general market conditions, market acceptance, foreign currency exchange rate fluctuations, the effects on pricing from group purchasing organizations and competition, the ability of AngioDynamics to integrate purchased businesses, including Navilyst Medical and its products, R&D capabilities, infrastructure and employees as well as the risk factors listed from time to time in AngioDynamics'SEC filings, including but not limited to its Annual Report on Form 10-K for the year ended May 31, 2013. AngioDynamics does not assume any obligation to publicly update or revise any forward-looking statements for any reason.
CONTACT: Company Contact:
AngioDynamics, Inc.Mark Frost, CFO
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