AngioDynamics (NASDAQ:ANGO) Chief Executive Officer Jim Clemmer told investors at a Goldman Sachs investor conference that the company’s transformation over the past several years has repositioned it around higher-growth med-tech markets, particularly cardiovascular disease and solid tumor cancers.
Clemmer said AngioDynamics, founded in 1988, “really lived two different lives,” describing the company before 2020 as primarily focused on serving interventional radiologists. Over the past six years, he said, AngioDynamics has moved “up-market” in product development and markets served, while divesting assets that did not fit its strategy.
Company Focused on Med Tech and Med Device Segments
Clemmer said AngioDynamics reports results in two operating segments: Med Tech and Med Device. The Med Tech segment includes two cardiovascular categories and one cancer category, while Med Device products provide EBITDA and stable cash flow to support investment in higher-growth areas.
He noted that AngioDynamics has a June 1 fiscal year start and said the company had recently finished fiscal 2026, with results expected to be reported in early July. He also said the company has started fiscal 2027.
Auryon Drives Peripheral Arterial Disease Growth
In cardiovascular disease, Clemmer highlighted Auryon, a product launched in September 2020 to treat peripheral arterial disease. He said Auryon uses a 355-nanometer laser wavelength designed to break down hard calcification, hard plaque and soft calcification. The product can be used above and below the knee and to treat in-stent restenosis, he said.
Clemmer said AngioDynamics has become the No. 3 market share player in the category since launch, passing three competitors. He said Auryon grew at high double-digit rates, “just under 20%,” during the first three quarters of the year, and the company expects the product to continue growing above market rates.
“For us, this put a stake in the ground to show we’re a serious cardiovascular company,” Clemmer said.
AlphaVac and AngioVac Target Venous Thromboembolism
Clemmer also discussed AngioDynamics’ venous business, which focuses on venous thromboembolism, including deep vein thrombosis and pulmonary embolism. He said the U.S. market for treating clots with mechanical devices is about $3 billion and less than 20% penetrated.
The company’s AlphaVac and AngioVac products use large-bore catheters with a Vortex funnel tip, which Clemmer said helps physicians access and remove clot while limiting blood loss. He said AngioDynamics is the newest and smallest company among the main competitors in this market and had to develop “a better product.”
Clemmer said the APEX study helped the company secure labeling for AlphaVac and showed reductions in clot burden and procedure time. He added that AngioDynamics is now running an APEX-Return study to evaluate adding a blood return feature.
NanoKnife Positioned for Prostate Cancer Treatment
For solid tumor cancers, Clemmer emphasized NanoKnife, a non-thermal ablation system that uses electrical pulses to break down tumor cell walls. He said the product has historically been used in pancreatic and liver cancers, but AngioDynamics sees its primary opportunity in intermediate-risk prostate cancer.
Clemmer said many men diagnosed with intermediate-risk prostate cancer fall between watchful waiting and radical prostatectomy. He said NanoKnife offers a focal therapy option intended to treat the gland while reducing risks of side effects such as incontinence and impotence.
According to Clemmer, AngioDynamics received an FDA indication for NanoKnife to treat solid tumors on Jan. 1, 2025, and later received a CPT 1 code, which he said supports more consistent reimbursement. He said the company has seen more than 20% year-over-year probe growth in the first three quarters.
Clemmer also cited results from the PRESERVE pivotal study and a second-year follow-up presented at the American Urological Association meeting, saying the results supported the durability of the treatment option. He described the potential market as about $900 million in the U.S. and $2 billion globally.
Pipeline and Financial Outlook
Clemmer said AngioDynamics’ Med Tech products are now nearly 50% of revenue and are growing at high double-digit rates, with gross margins above the company average. He said the company has a pipeline of internally developed products and market expansion opportunities that do not require “a lot of risky M&A.”
Discussing recent performance, Clemmer said the company’s fiscal third-quarter results were strong, with Med Tech revenue growing nearly 20% and the overall company growing nearly 9%. He said AngioDynamics is outgrowing the markets in which it competes and taking share in its target categories.
Clemmer said the company has no debt, “plenty of cash” and expects to generate cash going forward. He also said he believes AngioDynamics trades at a discount to its value, while stating that management will continue to focus on executing its business plan.
“If investors are looking at a company that is in the right place in markets that matter, can win in those markets, and generate a healthy business plan to grow for years to come, we believe we offer that today,” Clemmer said.
About AngioDynamics (NASDAQ:ANGO)
AngioDynamics, Inc is a medical technology company headquartered in Latham, New York, that develops, manufactures and markets a broad range of minimally invasive medical devices. The company’s products focus on three core areas: vascular access, peripheral vascular intervention and interventional oncology. Its solutions are designed to improve procedural outcomes, reduce complications and enhance patient comfort in hospital and outpatient settings.
In the vascular access segment, AngioDynamics offers a portfolio of devices including implanted ports, peripherally inserted central catheters (PICCs), hemodialysis catheters and specialty blood management products.
