ANGIODYNAMICS Business Summary

AngioDynamics Inc. (ANGO) is a medical technology firm that generates revenue primarily through the sale of minimally invasive medical devices and high-margin consumables used in vascular access, peripheral vascular disease, and oncology. The company’s business model is bifurcated into two primary segments: the high-growth "Med Tech" segment, which includes the Auryon atherectomy system, AlphaVac mechanical thrombectomy platform, and NanoKnife irreversible electroporation (IRE) system; and the "Med Device" segment, comprising its legacy vascular and oncology products. Following the strategic divestiture of its PICC and Midline portfolios in 2024, the company has transitioned toward a technology-focused portfolio with a recurring revenue stream driven by single-use disposables. AngioDynamics competes directly with larger diversified peers such as Boston Scientific, Merit Medical Systems, Becton Dickinson (BD), and Inari Medical, positioning itself as a specialized, high-agility innovator in the interventional oncology and thrombus management markets. The company was founded in 1988 by Howard S. Stern as a division of E-Z-EM, Inc. before spinning off into an independent public entity. The current leadership team is led by President and CEO Jim Clemmer, a veteran of the medical supplies industry who previously served as President of Medical Supplies at Covidien (now Medtronic); notably, Clemmer announced his planned retirement in early 2026 and is currently managing a transition period through November 2026. He is supported by Executive Vice President and CFO Stephen A. Trowbridge, who previously served as the company’s General Counsel and has been instrumental in the firm’s recent portfolio optimization and debt-free restructuring. The Board of Directors is chaired by Jan Keltjens, while major institutional investors include BlackRock, The Vanguard Group, and Nantahala Capital Management, reflecting a shareholder base aligned with the company’s pivot toward high-margin medical technology platforms.