New AngioDynamics CEO: I'll focus on current business now, M&A next phase

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24/05/2016

Jim Clemmer said he's focused first on the existing business at the medical device manufacturing company in Latham he now leads.

The new CEO of AngioDynamics spoke with analysts on an earnings call for the first time Thursday, his fourth day on the job. One analyst asked about what opportunities he saw for mergers and acquisitions or divestitures.

"My thoughts are I want to make sure the underlying business is performing at the rate it should be,” Clemmer said. "Most of my focus will be there initially so I can understand the dynamics affecting AngioDynamics in the marketplace ... Once I have a better grasp on that, the second look I'll take beyond that then ... is external M&A opportunities, potential divestiture opportunities. I'm sure those will come into play."

AngioDynamics (NASDAQ: ANGO) employs about 900 people in the Albany area and has manufacturing and distribution operations in Queensbury and Glens Falls. It makes catheters, ports and other medical devices

Clemmer retired from medical device maker Covidien, which was acquired by Minneapolis-based Medtronic last year, in January 2015. He succeeds AngioDynamics' former CEO Joe DeVivo.


Source: Albany Business Review


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