Vendor:Navilyst Medical, Inc.
 | |
| Company type | Private |
|---|---|
| Industry | Medical devices |
| Founded | 2008 |
| Headquarters | Marlborough, Massachusetts, US |
Key people | Joseph M. DeVivo, CEO |
| Products | PASV Valve Technology, Xcela PICCs and Ports, Vaxcel PICCs and Ports, Xcela PICC with PASV Valve Technology, NAMIC Fluid Management products and Exodus Drainage Catheters. |
| Owner | Avista Capital Partners |
| Parent | AngioDynamics, Inc. |
| Website | www |
Navilyst Medical, Inc. is a manufacturer of vascular medical equipment, including catheters, ports, and embolization devices. The company name is based on the root navi (as in "navigation") and the suffix lyst (as in "catalyst").[1]
History
Navilyst Medical was founded in February 2008 after the $425 million Avista Capital Partners acquisition of Boston Scientific's Fluid Management and Vascular Access division. The acquisition was seen as a way to focus on "opportunities it sees with vein-access devices, instead of competing for resources with many other projects inside the larger company [of Boston Scientific]," primarily within the hospital realm.[1][2] The purchase included Boston Scientific's manufacturing plant for NAMIC angiography and angioplasty fluid management devices[clarification needed] in Glens Falls, New York.[3][4]
In January 2012, news broke that vascular device manufacturer AngioDynamics, Inc. would be purchasing Navilyst for $372 million, calling the opportunity "an excellent platform for future revenue and earnings growth, as well as substantial cash flow generation."[5] The purchase was completed on May 22, 2012, valued at $355 million.[6] Navilyst Medical was allowed to continue as a subsidiary/division of AngioDynamics.
Changes arrived at the Glens Falls plant in December 2013 with the announcement of consolidation efforts with AngioDynamics' other facility in Queensbury. The company estimated 80 to 100 jobs would be shed over a period of three years, with the Queensbury plant being converted into a distribution center.[7] A year later, the Glens Falls plant was hit with a warning letter from the FDA concerning faults with design control and real-time aging testing found during on-site inspections, though the company strove "to rectify the deficiencies promptly."[8][9]
References
- ^ "Medical device maker gets new name". The Post-Star. Lee Enterprises, Inc. August 4, 2008. Retrieved February 29, 2016.
- ^ Hollmer, M. (September 1, 2008). "Newly hatched life science company eyes expansion". Boston Business Journal. American City Business Journals. Retrieved February 29, 2016.
- ^ Mukherjee, S.; Kaushik, K. (January 31, 2012). "AngioDynamics to buy Navilyst Medical for $372 million". Reuters. Thomson Reuters. Retrieved February 29, 2016.
- ^ "AngioDynamics Completes Acquisition of Navilyst Medical". AngioDynamics, Inc. May 22, 2012. Retrieved February 29, 2016.
- ^ Donnelly, S. (December 5, 2013). "AngioDynamics announces plan to consolidate local facilities, cut jobs". The Post-Star. Lee Enterprises, Inc. Retrieved February 29, 2016.
- ^ House, D.W. (November 14, 2014). "AngioDynamics gets Warning Letter". Seeking Alpha. Retrieved February 29, 2016.
- ^ "Commission File Number 000-50761". U.S. Securities and Exchange Commission. November 5, 2014. Retrieved February 29, 2016.
Notes
This article is a direct transclusion of the Wikipedia article and therefore may not meet the same editing standards as LIMSwiki.
