AngioDynamics (ANGO) 44th Annual J.P. Morgan Healthcare Conference summary

Strategic transformation and portfolio evolution

• Shifted from legacy interventional radiology to a science-driven MedTech portfolio, divesting non-core assets and focusing on high-growth, addressable markets.

• MedTech segment now comprises over 45% of revenue, expected to surpass 50% by FY 2027, with a 25% CAGR from FY20 to FY25.

• Active portfolio management and increased R&D investment have driven accelerated growth and improved margins since 2020, with streamlined operations.

• Internal R&D and platform expansion prioritized over M&A, with significant TAM growth opportunities in BPH, DVT, and coronary markets.

• Portfolio optimization may continue, with legacy device assets potentially divested as MedTech gains critical mass.

Product innovation and market performance

• Auryon, launched in 2020, has surpassed $200M in cumulative sales, is used in nearly 150,000 procedures, and has grown to over $60M in annual revenue, taking share from major competitors.

• AlphaVac and AngioVac offer minimally invasive solutions for venous thromboembolism, with AlphaVac FDA-cleared for pulmonary embolism after the APEX-AV study showed superior clot reduction.

• NanoKnife, the only FDA-cleared IRE device for prostate tissue, provides function-preserving therapy for prostate cancer, with strong clinical data from the PRESERVE study showing high efficacy and low side effects.

• NanoKnife was recognized as a top medical innovation by TIME in 2025 and featured in AARP campaigns, boosting national visibility.

• All platforms are positioned for further expansion into adjacent markets, leveraging existing technology.

Market opportunities and recognition

• The company targets large, underpenetrated markets: $800M for PAD, $5.5B for VTE, and $930M for prostate cancer, with significant growth potential as clinical data unlocks new indications.