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AngioDynamics (ANGO) Purchase of Certain Diomed Holdings, Inc. (DIO) Assets in the United States Approved by Bankruptcy Court



6/4/2008 9:11:55 AM

QUEENSBURY, N.Y.--(BUSINESS WIRE)--AngioDynamics, Inc. (NASDAQ:ANGO), a leading provider of innovative medical devices used by interventional radiologists, nephrologists and surgeons for the minimally invasive treatment of cancer and peripheral vascular disease, announced today that the United States Bankruptcy Court for the District of Massachusetts, Western Division, has granted an order approving AngioDynamics’ purchase of certain United States assets of Diomed Holdings and its wholly-owned subsidiary, Diomed, Inc. The sale conditions are set forth in a definitive asset purchase agreement, whereby AngioDynamics has agreed to pay $8 million in cash for the United States assets and $3 million in cash for certain United Kingdom Assets of Diomed Limited. The final purchase price will be subject to adjustment for changes in working capital at the closing date. The Company expects to simultaneously close the purchase of both the United States and United Kingdom assets on or about June 16, 2008.

Read at BioSpace.com


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