AngioDynamics (ANGO) Invests, Enters Distribution Agreement with Microsulis Medical

AngioDynamics (Nasdaq: ANGO), announced a strategic relationship with privately-held Microsulis Medical Ltd. Microsulis is a medical device company specializing in minimally invasive, microwave ablation technology for the coagulation of soft tissue and has systems in more than 80 hospitals world-wide.

The strategic relationship includes the following key elements:

• AngioDynamics has made a $5 million equity investment in Microsulis through the purchase of senior preferred stock, representing a 14.3% ownership position,
  
  
• AngioDynamics has been granted exclusive distribution rights to market and sell the Accu2i pMTA microwave ablation system in all markets outside the United States from May 2012 through December 2013,
  
  
• AngioDynamics has been granted the exclusive option to purchase, at any time until September 22, 2013, substantially all of the global assets of Microsulis Medical Ltd., including the microwave ablation technology and its worldwide distribution rights.

Morgan Joseph TriArtisan LLC served as exclusive financial advisor to Microsulis Medical Ltd.

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