AngioDynamics (ANGO) Signs PICC Deal with HealthTrust - Analyst Blog

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AngioDynamics Inc. (ANGO) has entered into a strategic partnership with HealthTrust, covering AngioDynamics' PICC (peripherally inserted central catheter) products. Notably, this is the seventh time that this provider of minimally invasive medical devices has struck a deal with HealthTrust.

From Jan 1, 2015, HealthTrust members will have access to AngioDynamics' entire PICC portfolio, including its thromboresistant BioFlo PICC product line and Celerity tip location system.

The new development underscores AngioDynamic's improving PICC product line. In June, the company received the U.S. FDA clearance for the Celerity tip location system, which is to be used as a supplement to assist the placement of PICCs in adult patients.

Celerity is significantly cost-effective compared to other prevalent competitive solutions. Moreover, the company is experiencing strong demand for the BioFlo product. BioFlo, as of the last reported quarter, contributed 50% of overall PICC sales.

Recently, Germany's Ministry of Health issued OPS (a procedure classification code) for AngioDynamic's NanoKnife System. This will help the company to successfully implement the NanoKnife technology in the German market.

Notably, AngioDynamics has reported an impressive first quarter of fiscal 2015, with both earnings and revenues beating the Zacks Consensus Estimate. The company has also provided a positive outlook for the second quarter and fiscal 2015. Adding to the positives, the company has reiterated its long-term five year sales growth target at 10% and gross margin at 60%.

The HealthTrust deal should advance AngioDynamics' prospects in the medical device space, allowing it to gain significant market traction over the coming quarters and help them to compete with the likes of CR Bard Inc. (BCR), Merit Medical Systems, Inc.(MMSI) and Vascular Solutions, Inc. (VASC).

Currently, AngioDynamics carries a Zacks Rank #3 (Hold).


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ANGIODYNAMICS (ANGO): Free Stock Analysis Report

BARD C R INC (BCR): Free Stock Analysis Report

MERIT MEDICAL (MMSI): Free Stock Analysis Report

VASCULAR SOLUTN (VASC): Free Stock Analysis Report

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