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AngioDynamics (ANGO) investor relations material
AngioDynamics UBS Global Healthcare Conference 2025 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Transformation and business strategy
Underwent a major transformation over the past five years, shifting from a broad device portfolio to a focused MedTech company targeting high-growth, high-margin markets.
MedTech segment now represents about 45% of revenue, up from less than 17% five years ago, and is expected to become the largest segment next fiscal year.
Med device segment provides stable cash flow and EBITDA, funding MedTech growth but is not a focus for future investment.
No debt and a strong balance sheet, with plans to be cash flow positive this fiscal year and beyond.
Capital allocation will prioritize internal innovation and data generation over M&A for the next three to five years.
MedTech segment growth and market opportunities
MedTech segment has achieved a 25% CAGR over the last five years, driven by platform technologies with potential for further market expansion.
Key platforms: NanoKnife (interventional oncology), Arion (PAD), and AlphaVac/AngioVac (VTE/thrombus management).
NanoKnife received a new label for intermediate-risk prostate cancer, opening a $2B+ global market; CPT1 code approved in January.
Arion system has grown from zero to $60M+ in revenue since 2020, now #3 in the PAD market, with hospital sales nearing parity with OBL.
AlphaVac and AngioVac products are taking share in the $3B U.S. PE market, with mechanical thrombectomy business expected to grow from $40M to $50M this year.
Market dynamics, clinical evidence, and innovation
Mechanical thrombectomy market is expanding due to increased clinical evidence and physician confidence, with a focus on data generation and market development.
Pricing in both thrombectomy and PAD markets has stabilized, with potential slight tailwinds from reimbursement changes.
Ambition BTK study aims to demonstrate safety and efficacy of atherectomy below the knee, supporting further adoption and reducing amputations.
Early diagnosis and awareness are key to increasing intervention rates and improving patient outcomes in PAD and prostate cancer.
Innovation strategy centers on leveraging existing platforms for new indications and markets, with minimal additional R&D required.
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