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AngioDynamics Reports 2015 Third Quarter Financial Results

  • Third quarter fiscal 2015 net sales of $86.6 million; flat vs. prior year, excluding the wind down of supply agreement and $1 million on a constant currency basis
  • GAAP loss of $0.12 per share primarily due to one-time non-cash charges
  • Non-GAAP adjusted net income of $0.12 per share, negatively impacted $0.02 by foreign currency
  • Operating cash generation of $12.2 million
  • Company updates full-year fiscal year 2015 net sales and adjusted EPS guidance

ALBANY, N.Y., April 9, 2015 (GLOBE NEWSWIRE) -- AngioDynamics (Nasdaq:ANGO), a leading provider of innovative, minimally invasive medical devices for vascular access, surgery, peripheral vascular disease and oncology, today reported financial results for the third quarter ended February 28, 2015.

Q3 FY15 Financial Results

Net sales of $86.6 million decreased 2% year over year from $88.2 million in last fiscal year's third quarter. Sales were flat year-over-year on a constant currency basis and excluding the planned wind down of the supply agreement with Boston Scientific (BSC). The following sales comparisons exclude the BSC supply agreement.

Peripheral Vascular net sales in the third quarter were $46.2 million, down 2% compared to $47.4 million in fiscal year 2014 third quarter. Vascular Access net sales were $26.4 million, a decrease of 3% from $27.3 million in the year ago quarter. Oncology/Surgery net sales of $13.1 million grew 9% over the $12 million in the prior year's third quarter. Overall, net sales in the U.S. were down 2% year over year to $68.4 million from $69.8 million. International net sales grew 3% to $17.3 million from $16.8 million in last year's third quarter. On a constant currency basis, international sales increased 8% compared to the fiscal 2014 third quarter.

The Company's GAAP net loss was $4.3 million, or $0.12 loss per share, compared to net income of $4.5 million, or $0.13 per share, in the fiscal 2014 third quarter. The current year period includes $15.5 million of non-cash, long-term asset impairment charges, $5.9 million of expenses associated with a product recall and discontinuance and $5.1 million of amortization, partially offset by a $10 million benefit from changes in the present value of contingent consideration. Excluding the items shown in the attached quarterly non-GAAP reconciliation table, adjusted net income was $4.4 million, or $0.12 per share, for the third quarter compared to net income of $4.9 million, or $0.14 per share, for the year ago quarter. This includes $0.02 impact from movements in currencies, particularly the euro and Canadian dollar, which declined against the U.S. dollar.

Third quarter EBITDA was a loss of $1.4 million, or $0.04 loss per share, compared to $13.8 million, or $0.39 per share, in the year ago period. Adjusted EBITDA, excluding the items shown in the attached reconciliation table, was $13.5 million, or $0.37 per share, compared to $13.9 million, or $0.39 per share, in the year ago comparable period.

During the third quarter, the Company voluntary recalled its Morpheus PICC line. An internal cost/benefit analysis, coupled with the favorable market response to the Company's BioFlo product offerings, prompted the acceleration of a pre-existing strategy to focus the Vascular Access business on products featuring BioFlo technology, resulting in the termination of the Morpheus PICC product line.

At February 28, 2015, cash and investments were $21.4 million and debt was $148.9 million.

"We delivered mixed financial results in the fiscal 2015 third quarter," said Joseph M. DeVivo, President and Chief Executive Officer. "Facing an extremely difficult operating environment, coupled with a decision to withdraw from the market our Morpheus PICC product line, we delivered at the low end of our expectations, excluding currency effects. Otherwise our team continues to execute well, driving more of our top line to higher growth thanks to our focus on innovative products that improve patient outcomes and reduce overall healthcare costs. Our Vascular Access business' BioFlo products continued to experience strong volume growth, further establishing its position as a truly disruptive technology. During the quarter we received an FDA clearance allowing for the elimination of a follow up X-ray when our Celerity tip location PICC is used, significantly improving our competitive position in this market. Sales in our Oncology/Surgery business grew 9% driven by continued strong NanoKnife disposable sales, particularly in the international market. We continued to rationalize our cost structure as part of our Operational Excellence program as we balance investments in growth areas with operating efficiency measures to meet our financial goals.

"I am also very pleased we signed a definitive agreement with EmboMedics," Mr. DeVivo added. "EmboMedics' resorbable microsphere technology positions us to return to the embolic market with a highly differentiated, highly margin-accretive technology. Adding a winning high growth technology to the Oncology/Surgery portfolio, coupled with NanoKnife and Acculis Microwave ablation system, helps deliver the most potent interventional oncology product line in the marketplace."

Recent Events

  • On April 9, 2015, the Company announced a worldwide licensing agreement with privately-held EmboMedics Inc., of Minneapolis, Minn., which develops injectable and resorbable microspheres. Embolization is the fastest growing segment in Interventional Radiology, and this newly formed strategic relationship will allow AngioDynamics to leverage the talent and knowledge of its sales team to re-enter the approximately $150 million addressable global embolic market.
  • AngioDynamics received U.S. Food and Drug Administration (FDA) clearance for an expanded indication for the Celerity tip location system. The new clearance allows for the elimination of a follow-up X-ray when the Celerity system is used to aid in positioning Peripherally Inserted Central Catheters (PICCs) in adults.

Nine Months Financial Results

For the nine months ended February 28, 2015, net sales were $266.1 million, a 2% increase compared to the $260.4 million reported in the year ago nine month period. The growth rate was 3% excluding the supply agreement and on a constant currency basis. The Company's net loss was $2.5 million, or $0.07 loss per share, compared to net income of $3.9 million, or $0.11 per share, reported for the first nine months of fiscal year 2014. Excluding the items shown in the attached quarterly non-GAAP reconciliation table, adjusted net income was $16.2 million, or $0.45 per share, compared to net income of $13.8 million, or $0.39 per share, a year ago representing a 15% increase. Excluding the impact of unfavorable currency adjustments, net income was $0.47, or a 21% increase. EBITDA was $20.4 million, or $0.56 per share, compared to EBITDA of $30.5 million, or $0.86 per share, a year ago. Adjusted EBITDA, excluding the items shown in the attached reconciliation table, was $43.8 million, or $1.21 per share, compared to $39.5 million, or $1.12 per share, in the year ago period, an increase of 8%.

Fiscal 2015 and Fourth Quarter Guidance

"We expect to show sequential improvement in our financial results in the fiscal fourth quarter ended May 31, 2015," said Mark Frost, Chief Financial Officer and Executive Vice President. "We believe the action we took in the third fiscal quarter to voluntary recall/discontinue our Morpheus PICC product line will drive longer-term strategic benefits; however, its short term impact coupled with the headwinds due to foreign currency exchange has resulted in a revision of net sales for fiscal year 2015 to a range of $356 million to $360 million from our prior outlook of a range of $362 million to $368 million. At the midpoint, excluding the supply agreement and based on constant currency, this represents an increase of 3% over fiscal year 2014. As a result of the revision to our revenue expectation, adjusted earnings per share (EPS) excluding amortization is anticipated to be between $0.57 and $0.60 per share. At the guidance midpoint, on a constant currency basis this would be a 12% increase over fiscal year 2014.

"We are anticipating revenue to range from $90 million to $94 million in the fourth quarter, 3% at the top end on a constant currency basis and excluding our supply agreement," Mr. Frost continued. "Adjusted EPS without amortization is expected to be $0.13 to $0.16."

Conference Call

AngioDynamics will host a conference call today at 4:30 p.m. Eastern Time to discuss its third quarter results. To participate in the live call by telephone, please call 1-888-430-8691 and reference the Conference ID: 6669789. In addition, a live webcast and archived replay of the call will be available at http://investors.angiodynamics.com. To access the live webcast, please go to the website 15 minutes prior to its start to register, download and install the necessary software.

Use of Non-GAAP Measures

Management uses non-GAAP measures to establish operational goals, and believes that non-GAAP measures may assist investors in analyzing the underlying trends in AngioDynamics' business over time. Investors should consider these non-GAAP measures in addition to, not as a substitute for or as superior to, financial reporting measures prepared in accordance with GAAP. In this news release, AngioDynamics has reported net sales, excluding a supply agreement; EBITDA (income before interest, taxes, depreciation and amortization); adjusted EBITDA; adjusted net income and adjusted earnings per share. Additionally, this press release evaluates results on a constant currency basis. As a non-GAAP measure, constant currency excludes the impact of foreign currency exchange rate fluctuations. Management uses these measures in its internal analysis and review of operational performance. Management believes that these measures provide investors with useful information in comparing AngioDynamics' performance over different periods. By using these non-GAAP measures, management believes that investors get a better picture of the performance of AngioDynamics' underlying business. Management encourages investors to review AngioDynamics' financial results prepared in accordance with GAAP to understand AngioDynamics' performance taking into account all relevant factors, including those that may only occur from time to time but have a material impact on AngioDynamics' financial results. Please see the tables that follow for a reconciliation of non-GAAP measures to measures prepared in accordance with GAAP.

About AngioDynamics

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.

Trademarks

AngioDynamics, the AngioDynamics logo, BioFlo and NanoKnife are trademarks and/or registered trademarks of AngioDynamics Inc., an affiliate or a subsidiary. Celerity is a trademark and/or registered trademark of Medical Components Inc.

Safe Harbor

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, 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, 2014; its Annual Report on Form 10-K/A for the fiscal year ended May 31, 2014; its quarterly reports on form 10-Q for the fiscal quarters ended August 31, 2014, and November 30, 2014; and the current report on Form 8-K, filed with the SEC on March 2, 2015. AngioDynamics does not assume any obligation to publicly update or revise any forward-looking statements for any reason.

In the United States, the NanoKnife System has received a 510(k) clearance by the Food and Drug Administration for use in the surgical ablation of soft tissue, and is similarly approved for commercialization in Canada, the European Union and Australia. The NanoKnife System has not been cleared for the treatment or therapy of a specific disease or condition.

ANGIODYNAMICS, INC. AND SUBSIDIARIES
CONSOLIDATED INCOME STATEMENTS
(in thousands, except per share data)
         
  Three months ended Nine months ended
  Feb 28, Feb 28, Feb 28, Feb 28,
  2015 2014 2015 2014
  (unaudited) (unaudited)
         
Net sales $ 86,597 $ 88,150 $ 266,077 $ 260,365
Cost of sales  48,746  43,357  134,745  128,107
Gross profit  37,851  44,793  131,332  132,258
% of net sales 43.7% 50.8% 49.4% 50.8%
         
Operating expenses        
Research and development  6,855  7,045  19,642  20,757
Sales and marketing  19,355  20,700  60,405  61,736
General and administrative  6,917  6,445  22,213  19,542
Medical device excise tax  1,034  980  3,105  2,955
Amortization of intangibles  5,106  4,248  13,182  12,696
Change in fair value of contingent consideration  (10,044)  (4,154)  (8,626)  (2,481)
Acquisition, restructuring and other items, net  18,779  3,016  23,745  7,697
Total operating expenses  48,002  38,280  133,666  122,902
Operating income (loss)  (10,151)  6,513  (2,334)  9,356
Other income (expense), net  (1,828)  (1,970)  (5,398)  (5,726)
Income (loss) before income taxes  (11,979)  4,543  (7,732)  3,630
Income tax expense (benefit)  (7,717)  28  (5,278)  (251)
Net income (loss)  $ (4,262)  $ 4,515  $ (2,454)  $ 3,881
         
Earnings (loss) per share        
Basic  $ (0.12)  $ 0.13  $ (0.07)  $ 0.11
Diluted  $ (0.12)  $ 0.13  $ (0.07)  $ 0.11
         
Weighted average shares outstanding        
Basic  35,755  35,184  35,568  35,088
Diluted  35,755  35,704  35,568  35,372
         
         
ANGIODYNAMICS, INC. AND SUBSIDIARIES
GAAP TO NON-GAAP RECONCILIATION
(in thousands, except per share data)
         
Reconciliation of Gross Profit to non-GAAP Adjusted Gross Profit
         
  Three months ended Nine months ended
  Feb 28, Feb 28, Feb 28, Feb 28,
  2015 2014 2015 2014
  (unaudited) (unaudited)
         
Gross profit  $ 37,851  $ 44,793  $ 131,332  $ 132,258
         
Recall expenses included in cost of sales  4,997  --   4,997  -- 
Amortization of inventory basis step-up (1)  --   75  --   150
Adjusted gross profit  $ 42,848  $ 44,868  $ 136,329  $ 132,408
Adjusted gross profit % of sales 49.5% 50.9% 51.2% 50.9%
         
Reconciliation of Net Income to non-GAAP Adjusted Net Income:
         
  Three months ended Nine months ended
  Feb 28, Feb 28, Feb 28, Feb 28,
  2015 2014 2015 2014
  (unaudited) (unaudited)
         
Net income (loss)  $ (4,262)  $ 4,515  $ (2,454)  $ 3,881
         
Recall expenses included in cost of sales  4,997  --   4,997  -- 
Amortization of inventory basis step-up (1)  --   75  --   150
Amortization of intangibles  5,106  4,248  13,182  12,696
Change in fair value of contingent consideration  (10,044)  (4,154)  (8,626)  (2,481)
Fixed and intangible asset impairments  9,074  --   9,074  -- 
Indefinite-lived intangible asset impairment  6,400  --   6,400  -- 
Acquisition, restructuring and other items, net (2)  3,305  3,016  8,271  7,697
Tax effect of non-GAAP items (3)  (10,221)  (2,793)  (14,610)  (8,169)
Adjusted net income  $ 4,355  $ 4,907  $ 16,234  $ 13,774
         
         
Reconciliation of Diluted Earnings Per Share to non-GAAP Adjusted Diluted Earnings Per Share:
         
  Three months ended Nine months ended
  Feb 28, Feb 28, Feb 28, Feb 28,
  2015 2014 2015 2014
  (unaudited) (unaudited)
         
Diluted earnings (loss) per share  $ (0.12)  $ 0.13  $ (0.07)  $ 0.11
         
Recall expenses included in cost of sales  0.14  --   0.14  -- 
Amortization of inventory basis step-up (1)  --   0.00  --   0.00
Amortization of intangibles  0.14  0.12  0.36  0.36
Change in fair value of contingent consideration  (0.27)  (0.12)  (0.24)  (0.07)
Fixed and intangible asset impairments  0.25  --   0.25  -- 
Indefinite-lived intangible asset impairment  0.18  --   0.18  -- 
Acquisition, restructuring and other items, net (2)  0.09  0.08  0.23  0.22
Tax effect of non-GAAP items (3)  (0.28)  (0.08)  (0.40)  (0.23)
Adjusted diluted earnings per share  $ 0.12  $ 0.14  $ 0.45  $ 0.39
         
         
Adjusted diluted sharecount  36,526  35,704  36,236  35,372
         
(1) Amortization of step-up of acquired inventory value in accounting for acquisitions.
(2) Includes costs related to acquisitions, integrations, restructurings, debt refinancings, litigation, and other items.
(3) Represents the net tax effect of non-GAAP adjustments.
         
         
ANGIODYNAMICS, INC. AND SUBSIDIARIES
GAAP TO NON-GAAP RECONCILIATION (Continued)
(in thousands, except per share data)
         
Reconciliation of Net Income to EBITDA and Adjusted EBITDA:
         
  Three months ended Nine months ended
  Feb 28, Feb 28, Feb 28, Feb 28,
  2015 2014 2015 2014
  (unaudited) (unaudited)
         
Net income (loss)  $ (4,262)  $ 4,515  $ (2,454)  $ 3,881
         
Income tax expense (benefit)  (7,717)  28  (5,278)  (251)
Other income (expense), net  1,828  1,970  5,398  5,726
Depreciation and amortization  8,777  7,243  22,776  21,113
EBITDA  (1,374)  13,756  20,442  30,469
         
Recall expenses included in cost of sales  4,997  --   4,997  -- 
Amortization of inventory basis step-up (1)  --   75  --   150
Change in fair value of contingent consideration  (10,044)  (4,154)  (8,626)  (2,481)
Fixed and intangible asset impairments  9,074  --   9,074  -- 
Indefinite-lived intangible asset impairment  6,400  --   6,400  -- 
Acquisition, restructuring and other items, net (2,3)  2,929  2,641  7,142  7,322
Stock-based compensation  1,488  1,599  4,389  4,022
Adjusted EBITDA  $ 13,470  $ 13,917  $ 43,818  $ 39,482
         
Per diluted share:        
EBITDA  $ (0.04)  $ 0.39  $ 0.56  $ 0.86
Adjusted EBITDA  $ 0.37  $ 0.39  $ 1.21  $ 1.12
         
(1) Amortization of step-up of acquired inventory value in accounting for acquisitions.
(2) Includes costs related to acquisitions, integrations, restructurings, debt refinancings, litigation, and other items.
(3) Excludes depreciation expense captured in the depreciation and amortization component of the reconciliation.
         
         
ANGIODYNAMICS, INC. AND SUBSIDIARIES
PRELIMINARY NET SALES BY PRODUCT CATEGORY AND BY GEOGRAPHY
(unaudited in thousands)
                     
  Three months ended (a) Nine months ended (b)
        Currency Constant       Currency Constant
  Feb 28, Feb 28, % Impact Currency Feb 28, Feb 28, % Impact Currency
  2015 2014 Growth (Pos) Neg Growth 2015 2014 Growth (Pos) Neg Growth
                     
Net Sales by Product Category                    
Peripheral Vascular $ 46,195 $ 47,358 -2%     $ 142,996 $ 141,718 1%    
Vascular Access  26,400  27,259 -3%      80,793  78,113 3%    
Oncology/Surgery  13,066  11,968 9%      39,062  35,692 9%    
Total Excluding Supply Agreement  85,661  86,585 -1% 1% 0%  262,851  255,523 3% 0% 3%
Supply Agreement  936  1,565 -40% 0% -40%  3,226  4,842 -33% 0% -33%
Total $ 86,597 $ 88,150 -2% 1% -1% $ 266,077 $ 260,365 2% 1% 3%
                     
Net Sales by Geography                    
United States $ 68,410 $ 69,814 -2% 0% -2% $ 208,848 $ 206,466 1% 0% 1%
International  17,251  16,771 3% 5% 8%  54,003  49,057 10% 3% 13%
Supply Agreement  936  1,565 -40% 0% -40%  3,226  4,842 -33% 0% -33%
Total $ 86,597 $ 88,150 -2% 1% -1% $ 266,077 $ 260,365 2% 1% 3%
                     
(a) There were 61 sales days in the three months ended February 28, 2015 and 2014.
(b) There were 187 sales days in the nine months ended February 28, 2015 and 2014.
                     
                     
ANGIODYNAMICS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in thousands)
     
  Feb 28, May 31,
  2015 2014
  (unaudited) (unaudited)
Assets    
Current Assets    
Cash and cash equivalents $ 19,704 $ 16,105
Marketable securities  1,682  1,809
Total cash and investments  21,386  17,914
     
Accounts receivable, net  57,770  61,968
Inventories  68,710  61,234
Deferred income taxes  2,638  4,625
Prepaid income taxes  1,929  510
Prepaid expenses and other  4,859  5,471
Total current assets  157,292  151,722
     
Property, plant and equipment, net  58,295  66,590
Intangible assets, net  186,547  205,256
Goodwill  360,473  360,473
Deferred income taxes, long-term  16,469  10,403
Other non-current assets  4,060  4,447
Total Assets $ 783,136 $ 798,891
     
Liabilities and Stockholders' Equity    
Accounts payable $ 21,696 $ 32,895
Accrued liabilities  19,946  17,251
Income taxes payable  677  689
Current portion of long-term debt  7,500  5,000
Current portion of contingent consideration  9,868  10,918
Total current liabilities  59,687  66,753
Long-term debt, net of current portion  141,410  137,660
Deferred income taxes, long-term  1,146  1,146
Contingent consideration, net of current portion  37,137  56,413
Other long-term liabilities  --  84
Total Liabilities  239,380  262,056
     
Stockholders' equity  543,756  536,835
Total Liabilities and Stockholders' Equity $ 783,136 $ 798,891
     
     
ANGIODYNAMICS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
         
  Three months ended Nine months ended
  Feb 28, Feb 28, Feb 28, Feb 28,
  2015 2014 2015 2014
  (unaudited) (unaudited) (unaudited) (unaudited)
         
Cash flows from operating activities:        
 Net income (loss)   $ (4,262)  $ 4,515  $ (2,454)  $ 3,881
 Adjustments to reconcile net income (loss) to net cash provided by operating activities:         
Depreciation and amortization  8,777  7,243  22,776  21,113
Stock-based compensation  1,488  1,599  4,389  4,022
Change in fair value of contingent consideration  (10,044)  (4,154)  (8,626)  (2,481)
Fixed and intangible asset impairments and disposals  9,188  --   9,188  -- 
Indefinite-lived intangible asset impairment  6,400  --   6,400  -- 
Deferred income taxes  (7,823)  545  (4,138)  1,700
Change in accounts receivable allowance  315  (31)  659  281
Tax effect of exercise of stock options and inssuance of performance shares  --   --   --   (146)
Amortization of acquired inventory basis step-up  --   75  --   150
Other  19  (26)  (70)  (50)
 Changes in operating assets and liabilities, net of acquisitions:         
Receivables  466  (9,545)  3,535  (9,668)
Inventories  6,605  860  (7,476)  (3,491)

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Privacy Policy

ANGIODYNAMICS® PRIVACY POLICY

AngioDynamics, Inc. (ADI) is dedicated to keeping the information you choose to share with us through the web sites (Sites) owned and/or operated by us secure. Ensuring your understanding of how we use and maintain your information is important to ADI. To that end, we have provided below our General Policy and our Registered User Requirements and Information.

Note: for purposes of this Privacy Policy, when we use the term "your information" or similar terms, we mean information personally identifiable with a specific user of our Sites or about a user's current or former relationship with ADI or any of its subsidiaries or affiliates.

This Privacy Policy discloses our privacy practices as to:

  • collection and use of information provided by you.
  • the privacy protection mechanisms we have implemented; and
  • how you can access, update or delete any information provided by you.

If you have any questions concerning our Privacy Policy, what information about you we collect and use, or if you do not understand any of the terms or disclosures noted below, you may contact us at info@angiodynamics.com.

I. General Policy.

ADI maintains physical, electronic and procedural safeguards to protect your information. Though no data transmission over the Internet is 100% secure from intrusion, we have used and will continue to use reasonable efforts to ensure the protection of your information. We assess new technology for protecting information and, when appropriate, upgrade our information security systems.

We collect information about you when you visit and use the Sites and when you enter or input information.

You can visit the Sites and learn about our company, products and services, and find out how to contact us without giving us any personal information about yourself. If we request personally identifiable information, you may decline to provide such and thus opt out of receiving future communications from us.

We may use information about you to inform us on how best to update the Sites and enhance the experience for such visitors. Personally identifiable information is not extracted for this purpose. We use such information on an aggregated basis to help us operate the Sites, enhance and improve our service, improve the look of the Sites and display advertising and marketing information. We may use personally identifiable information to display content we think will be of interest to you, or to customize what you see when you visit the Sites.

The information we may collect and store generally consists of information gathered from your registration, data input, forms and other information you provide us, electronically, by phone, in writing, in person or by any other means and information about your transactions and experience with ADI, such as account balances and purchasing activity.

Information is critical to our ability to provide high quality service to you, but the trust that you place in how we provide that service is an important asset. Keeping your information secure is a top priority for all of us at ADI. Consequently, our privacy standards are designed to ensure that we will:

  • collect and use only the necessary information required for us to deliver high quality service, to administer our business and to let you know of products and services that are available from our family of companies;
  • protect the information you share with us, maintaining strict standards of security and confidentiality;
  • not disclose information, personal or business, to any external organization in a manner not otherwise contemplated herein unless we have previously notified you (or the business, in the case of a commercial enterprise) and obtained your consent or if we enter into a specific agreement with you;
  • require any other organization that we retain or engage to provide support services for us to conform to our privacy standards.

Your privacy is important to us. However, there are legal and technical reasons why we cannot fully ensure that your personally identifiable information will be kept confidential at all times. For example, we may be compelled to disclose your information to a governmental agency or a court; or third parties may unlawfully intercept or access transmissions or private communications. Additionally, we may (and you hereby authorize us to do so) disclose any information about you to private entities, law enforcement or other government officials as we, in our sole discretion, believe necessary or appropriate to investigate or resolve possible problems or inquiries or to protect our own business and assets. In such circumstances, we will, where possible, require such third parties to maintain the confidentiality of any information so disclosed.

ADI may change this Privacy Policy from time to time. Any changes will be effective immediately upon posting to the Sites. Please check back regularly to ensure you read and understand our current privacy practices

II. Registered User Requirements And Information

Some features on the Sites may require you to register in order to get our authorization before you can use those features. Whether you are an individual or a corporation, partnership or other form of commercial enterprise, in order for you to obtain our authorization to use those features and be considered a registered user, you must provide us with certain information about you and your business and, for security purposes, we may require some personal information about you and, if you represent a business, we may request personal information about those you designate to represent that business.

If you are a registered user, you acknowledge and also consent to our tracking your activities and use of the Sites in connection with the non-public functions of the Sites, such as confirming and filling orders, maintaining quality control and contacting you concerning your orders, transactions or subscription.

In addition to information about your business, for security purposes, we require that you provide us with information such as names, addresses, e-mail addresses, telephone numbers and other personally identifiable information for each individual who will use the Sites, in order for us to authorize you and those individuals to access the features of the Sites that are available only to registered users. This information also helps us to ensure we are able to securely identify you and each of these individuals as authorized users for the features you have successfully registered to use. Once registration is complete and we have granted you authorization, we will provide you with a user identification number and allow you to select a unique user ID and password. You will be able to change your password, as well as any personal data you have given us in order to update your information. If you are a designated representative of a business, keep in mind that an authorized representative of the business will also have the right to revoke that designation and, if so notified, we will immediately terminate your right to use the Sites.

When you submit personally identifiable information on behalf of others, you represent that you have their authorization to provide this information to us. We reserve the right to (i) ask you to provide evidence of that authorization at any time during or after the submission process and (ii) contact those individuals to confirm the authorization. If we determine that such authorization has not been properly obtained, we may immediately and without notice, discontinue your authorization to use the Sites.

Submitting information to us is not a guarantee or assurance that we will grant authorization or permit you, or anyone you designate, to use any or all of the features of the Sites. If, for any reason, you are not granted authorization we will only retain the information you submit to us in order to communicate with you regarding your application and perhaps request additional or follow-up information, for audit purposes or as may be required by law or regulation and we will not use your information for any other purposes.

The personal information you provide and any data, personal or otherwise, that you disclose may be saved on the Sites for the following purposes:

(i) we may use such information to advise you of or provide additional information regarding products or services that may be available through ADI or its affiliates;

(ii) we may use such information and data to administer our business, the Sites, and our services in a manner consistent with the Terms of Use that govern your use of the Sites as well as all applicable laws, rules, regulations and other legal obligations; and

(iii) we may disclose such information to third party physicians and health care providers who purchase our products and services for the benefit of their respective patients for the sole purpose of contacting you directly regarding the same, unless you indicate to us via the Site or otherwise in writing that you wish to opt out of such disclosures. Except as set forth above, we do not sell or market your personal information or personalized data to unaffiliated organizations. If you provide us with your email address, we may occasionally send you e-mail and any e-mail sent to us by you through the Sites will be handled and maintained in accordance with the legal and regulatory requirements we must comply with, if any, regarding communications from users and the public.

ADI may collect and use the information you provide to enable us to save you time and money by better understanding your needs so that we can provide you with more relevant information about ADI's products and services.

III. "Cookies"

Some of our Web Sites will send a "cookie," a small text file, to your computer. This allows us to recognize your computer the next time you visit, without bothering you with another request to register. If you do not wish to receive cookies, please refer to the "Help" file of your Internet Browser to learn how to either block all cookies or receive a warning before a cookie is stored. To learn more about cookies we encourage you to visit www.cookiecentral.com If you visit our Web Sites to browse, read, or download information, we collect and store some "visitor information" from you, such as the name of the domain and host from which you access the Internet, the Internet Protocol (IP) address of the computer you are using, the date and time you access our Web Site, and the Internet address of the website from which you linked directly to our Web Site. We use this information to measure the traffic on our Web Sites and to help us make our Web Sites more useful. We delete this information after some time

IV. Information About Minors

ADI's Web Sites are generally not targeted at children under the age of fourteen. We will not knowingly collect information from site visitors in this age group. We encourage parents and legal guardians to monitor their children's Internet usage and to help enforce our Privacy Policy by instructing their children to never provide Personal Information on this Site without their permission.

V. Links to Other Sites

As a resource to our visitors, ADI may provide links to other Internet sites. Please be aware that we do not control other Internet sites and that, in any case, this Internet Privacy Policy does not apply to those Internet sites. We encourage you to read the privacy policy of every Internet site you visit.

VI. Anti-Spam Policy

ADI does not distribute or sell customers' confidential information from our opt-in lists.

Definition of Spam from MAPS – Mail Abuse Prevention System
An email is spam if:

  1. The recipient's personal identity and context are irrelevant because the message is equally applicable to many other potential recipients; AND
  2. The recipient has not verifiably granted deliberate, explicit, and still-revocable permission for it to be sent; AND
  3. The transmission and reception of the message appears to the recipient to give a disproportionate benefit to the sender.

ADI's Commitment:

  • AngioDynamics DOES NOT send out unsolicited email (UCE/Spam) (Please note UCE stands for unsolicited commercial email)
  • AngioDynamics DOES NOT knowingly do business with any company that participates in sending UCE/SPAM
  • AngioDynamics DOES NOT sell or exchange personal information from our opt-in lists.

Rev. December 16, 2009

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A Global Reach, A Community Presence

During the last 25 years, AngioDynamics has grown to have a global reach, with facilities in three U.S. states, The Netherlands, Hong Kong, Germany and Great Britain. The company has its Corporate Headquarters in Albany, N.Y., U.S., and continues to have a major presence in Queensbury, N.Y., U.S., and Glens Falls, N.Y., where it designs, develops and manufactures many of its products. The manufacturing of AngioDynamics’ port systems, electrosurgical devices and needle sets occurs at its Manchester, Ga., U.S., facility, while cutting-edge research and development is performed in Marlborough, Mass., U.S. The company also has opened an International Headquarters in Amsterdam, The Netherlands, and sales offices in Hong Kong and Canada, as well as a facility in Denmead, U.K., focused on the manufacture of its microwave ablation systems.

New York – Global Headquarters 
14 Plaza Drive
Latham, N.Y. 12110 USA
Phone: 1-800-772-6446
+1 (518) 795-1400
Fax: +1 (518) 795-1401

Airport: Albany International Airport (ALB)
Hotel:
Holiday Inn Express & Suites Latham
400 Old Loudon Road
Latham, NY 12110
(Closest to the Global Headquarters.)
Directions

Hotel Indigo
254 Old Wolf Road
Latham, NY,12110
(Closest to the Albany Airport.)
Directions


New York – Queensbury Manufacturing Facility
603 Queensbury Ave.
Queensbury, NY, 12804 USA
Phone: 1-800-772-6446
+1 (518) 798-1215
Fax: +1 (518) 798-3625

Airport: Albany International (ALB)

Hotels:
Comfort Suites Lake George
1533 State Route 9
Lake George, NY 12845 
(Closest to facility) 
Directions

Hampton Inn & Suites 
25 Lake Avenue
Saratoga Springs, NY 12866
(Within walking distance to restaurants and night life; approximately 30 minutes from facility) 
Directions


New York - Glens Falls Manufacturing Facility
10 Glens Falls Tech Park
Glens Falls, NY 12801
Phone: 1-800-772-6446
+1 (518) 742-4495
Fax: 518-798-3625

Airport: Albany International (ALB)

Hotels:
Comfort Suites Lake George
1533 State Route 9
Lake George, NY 12845 
(Closest to facility) 
Directions

Hampton Inn & Suites 
25 Lake Avenue
Saratoga Springs, NY 12866
(Within walking distance to restaurants and night life; approximately 30 minutes from facility) 
Directions

Georgia
AngioDynamics
1 Horizon Way
Manchester, GA, 31816 USA

Airport: Atlanta (ATL)

Hotels:
Best Western White House Inn
2526 White House Pkwy
Warm Springs, GA 31830
(Closest to facility)
Directions

Springhill Suites Newnan
1119 Bullsboro Drive
Newnan, GA 30265
(Closest to restaurants; about 50 miles from facility)
Directions

Massachusetts
26 Forest Street
Marlborough, MA 01752
Phone: 1-877-658-7990
508-658-7990

Airport: Logan (BOS)




The Netherlands
AngioDynamics Netherlands BV
Haaksbergweg 75 (Margriettoren)
1101 BR Amsterdam Z-O

Airport:
Amsterdam Schipol, 13 miles from facility

Hotels:
Hotel JL no 76
Jan Luijckenstraat 76  
1071 CT Amsterdam   
The Netherlands
Directions

Hotel Vondel
Vondelstraat 26
1054 GD Amsterdam
The Netherlands
Directions


Hong Kong
Suite 6, 6/F Luk Kwok Centre
72 Gloucester Road, Wan Chai
Hong Kong SAR

Airport:
Hong Kong International, 25 miles from facility

Canada
2275 Upper Middle Road East #101
Oakville, ON L6H0C3
Tel: +1 905-491-6981

Airport:
Toronto Pearson International Airport

Hotel:
Hilton Garden Inn Mississauga
100 Traders Boulevard
Mississauga, ON L4Z 2H7, Canada
Directions


United Kingdom
1 Falcon Court
Parklands Business Park
Denmead
Hampshire, PO7 6XP
United Kingdom

Airport:
Southampton

 

Hotel:
Portsmouth Marriott Hotel
Southampton Road
Portsmouth,  PO6 4SH
United Kingdom
Phone: 44-23-9238 3151
Fax: 44-23-9238 8701
Directions

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Patient Resources

At AngioDynamics we are focusing on patient care every day, but we understand that undergoing a procedure is not an everyday occurrence for most patients. You probably have a lot of questions, and we hope that the materials on this page will help answer some of the most common questions about our products and your upcoming procedure. Additionally, we have listed links to the Web sites of several organizations below that you may find helpful during your journey. Please remember these are only tools, and that your physician is best suited to answer your questions.

National Cancer Institute
http://www.cancer.gov
American Academy of Dermatology
http://www.aad.org/forms/pamphlets/
American Cancer Society
http://www.cancer.org
American Academy of Family Physicians
http://www.familydoctor.org
Mayo Clinic
http://www.mayoclinic.com
Society of Interventional Radiology
http://www.sirweb.org/patients
WebMD
http://www.webmd.com
American College of Phlebology
http://www.phlebology.org
VenaCure EVLT™
http://www.venacure-evlt.com
American Venous Forum
http://www.venous-info.com
Vascular Disease Foundation
http://www.vdf.org

Mission

To provide benefits to patients by being the leader in design, development, manufacturing and marketing of innovative, proprietary, therapeutic devices used by interventionalists and surgeons for the minimally invasive treatment of peripheral vascular disease, tumor therapy and other, non-vascular disease.

Values

AngioDynamics is deeply committed to improving patient care by ethically serving its customers, shareholders and employees. We value the importance of trust and honesty in all of the relationships that we build. AngioDynamics is dedicated to its pursuit of innovation and tenaciously strives for continuous improvement in every area.

AngioDynamics seeks to add significant value in every interaction with its customers by providing unsurpassed service and the highest quality, best performing products. To accomplish this, AngioDynamics is committed to its employees receiving the highest level of training, and to providing an environment that promotes continual employee growth. All AngioDynamics employees constantly endeavor to be the best and the brightest in the medical device industry.

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About AngioDynamics

AngioDynamics® history is best characterized by innovation and growth. Originally founded in Queensbury, N.Y., U.S., in 1988, AngioDynamics® has grown into a NASDAQ-listed public company with a global reach.

Queensbury was chosen due to its location in the heart of “Catheter Valley,” an area in New York’s Adirondack Region named for its long history of catheter and other medical device manufacturing. Today, the Company has made its presence apparent far beyond Upstate New York with 1,400 employees worldwide at facilities in the United States, Europe and Asia. AngioDynamics is currently selling in more than 50 markets through direct sales and distributors.

Initially dedicated to the research and development of products used in interventional radiology, AngioDynamics began shipping product in the early 1990s. The Company soon became well established as a producer of diagnostic catheters for non-coronary angiography and thrombolytic delivery systems. In May 2004 the Company became publicly traded on the NASDAQ stock exchange under the symbol ANGO.

Through acquisitions of companies such as RITA Medical Systems in January 2007, Oncobionic in May 2008, and the assets of Diomed in June 2008 and FlowMedica in January 2009, AngioDynamics now boasts a diverse product line that includes market-leading radiofrequency ablation and NanoKnife® systems, vascular access products, angiographic products and accessories, dialysis products, angioplasty products, drainage products, thrombolytic products, embolization products, venous products and targeted renal therapy products.

Continuing its expansion, AngioDynamics opened a new headquarters in Albany, N.Y., in March 2010. Most recently, in May 2012, AngioDynamics acquired Navilyst Medical, bringing market-leading fluid management systems into its portfolio. The acquisition significantly expanded the Company’s scale, doubling its share of the vascular access market while building critical mass in the peripheral vascular market. A comprehensive look at the Company’s history can be found in the form of an interactive timeline of events at www.angiodynamics.com.


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Contact AngioDynamics

Please be advised, effective January 21st, 2014, AngioDynamics and Navilyst Medical will merge under one unified business information system. This will impact the way our customers order products. All products in the AngioDynamics portfolio will now have universal part numbers. To avoid business interruptions, please visit our resource materials, herein, for further information and updates required.
Corporate Office
14 Plaza Drive
Latham, NY 12110
Hours of Operation: 
8 a.m. to 5 p.m. ET
Tel: +1 518-795-1400
Fax: +1 518-795-1401
General e-mail: 
info@angiodynamics.com

International Offices

Amsterdam Office

AngioDynamics Netherlands BV
Haaksbergweg 75 (Margriettoren)
1101 BR Amsterdam Z-O
Hours of Operation: 08.30 - 17.00 (Local)
Tel: +31 (0)20 753 2949
Fax: +31(0)20 753 2939
General e-mail:
amsterdam@angiodynamics.com

U.S. Customer Service
603 Queensbury Ave.
Queensbury, NY 12804
Hours of Operation: 
8 a.m. to 6 p.m., Monday-Friday
Toll Free Telephone: 1-800-772-6446
(select option 2 for Customer Service)
Fax: +1 518-798-1360
customerservice@angiodynamics.com

Physician Clinical Product Questions
Contact our clinical specialists by calling 1-800-772-6446, option 5

Canada Office 
2275 Upper Middle Road East #101
Oakville, ON L6H0C3
Tel: +1 905-491-6981

Hong Kong Office
Suite 6, 6/F Luk Kwok Centre
72 Gloucester Road, Wan Chai
Hong Kong SAR
Hours of Operation:
Weekdays 09:00 - 18:00
Tel: +852 3127 5507
Fax: +852 3127 5656
General e-mail:
hongkong@angiodynamics.com

Denmead
1 Falcon Court
Parklands Business Park
Denmead
Hampshire, PO7 6XP
United Kingdom
Phone: +44 (0)2392 240011
Fax: +44 (0)2392 240051

Investor Relations Contacts
EVC Group, Inc.
Christopher Dailey
646.445.4801
cdailey@evcgroup.com

Robert Jones
646.201.5447
bjones@evcgroup.com
Customer Service International

GERMANY/DEUTSCHLAND (08:30 – 17:00 Local)
Rufnummer: 0800 180 8497 (Kostenlos)
Fax: 0800 100 3827 (Kostenlos)
E-mail: csinternational@angiodynamics.com
 
FRANCE (08:30 – 17:00 Local)
Téléphone: 0800 907 948 (numéro Vert - gratuit)
Fax: 0800 940 395 (numéro Vert - gratuit)
E-mail: csinternational@angiodynamics.com

NETHERLANDS/NEDERLAND (08:30 – 17:00 Local)
Telefoon: 0800 40 40 013 (Gratis)
Fax: 0800 40 40 014 (Gratis)
E-mail: csinternational@angiodynamics.com
 
UNITED KINGDOM (08:30 – 17:00 Local)
Telephone: 0808 234 7774 (UK Toll Free)
Fax: 0800 358 0866 (UK Toll Free)
E-mail: csinternational@angiodynamics.com

ALL OTHER COUNTRIES (08:30 – 17:00 CET)
Telephone: +31 (0) 20 753 2949
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