AngioDynamics to buy Navilyst for $372M

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AngioDynamics, a maker of minimally invasive medical devices for vascular access, surgery, peripheral vascular disease and oncology, has announced plans to buy Navilyst Medical from Avista Capital Partners for $372 million in cash and stock.

Marlborough, Mass.-based Navilyst has products in the vascular access, interventional radiology and interventional cardiology markets, according to the joint statement. Avista had acquired the business from Boston Scientific in 2008.

The Albany, N.Y.-based AngioDynamics expects the acquisition to double its share of the vascular access market, expanding its presence in the peripheral vascular market.

The transaction is subject to customary closing conditions, clearance under antitrust guidelines and the approval of AngioDynamics’ shareholders.