AngioDynamics, Inc.

ANGO

$15.42

-0.32%

N/A-$0.05

Healthcare

Medical - Instruments & Supplies

NASDAQ

Active Trading

AngioDynamics, Inc. specializes in the development, manufacturing, and commercialization of a diverse array of medical, surgical, and diagnostic instruments. These products are ...

Supply Chain of ANGO

Upstream

Foundry, packaging, memory, wafers, components, and input vendors.

Upstream

Medical Components, Inc. (MedComp)

Vortex Medical

Various Single & Limited Source Suppliers (Components & Raw Materials)

Contract Manufacturers (Unnamed Transition Partners)

Specialty Medical Tubing & Extrusion Suppliers

Laser Diode & Electronics Component Suppliers

Medical Components, Inc. (MedComp)

Supplier of venous access catheters, ports, and related products; long-standing distribution and supply agreement where AngioDynamics distributes MedComp products under exclusive/non-exclusive terms

Vortex Medical

Original manufacturer/supplier of the AngioVac cannula and circuit system components (as per FDA documentation); AngioDynamics markets and distributes the system

Various Single & Limited Source Suppliers (Components & Raw Materials)

Unconfirmed

Suppliers of key raw materials, product components, subassemblies including medical-grade polymers, extruded tubing, laser diode components, electronic subassemblies, nitinol wire, catheter braiding, sterile packaging, and adhesive materials. Not individually named in public filings per 10-K risk factors citing single/limited source dependencies

Contract Manufacturers (Unnamed Transition Partners)

Unconfirmed

Strategic contract manufacturing partners engaged as part of the January 2024 manufacturing restructuring and shift to outsourced production model. Specific partners not disclosed in public filings. AngioDynamics closed owned facilities in Queensbury and Glens Falls, NY by H2 2025 and executed sale-leaseback in Dec 2024

Specialty Medical Tubing & Extrusion Suppliers

Unconfirmed

Tier 2 sub-suppliers providing precision catheter tubing, braided/reinforced shafts, and multi-lumen extrusions to contract manufacturers and direct suppliers

Downstream

Customers, distributors, OEMs, and channels that absorb output.

Downstream

US Hospitals & Physician Practices (Direct Sales)

Premier Inc. (GPO)

Cardiva

Kimal PLC

Getz Healthcare

M3 Medical (part of Uniphar Medtech)

FloMedical

Various International Distributors

US Hospitals & Physician Practices (Direct Sales)

AngioDynamics sells directly via ~110-person US sales force to hospitals, ambulatory surgery centers, and physician offices. Direct channel represents ~70% of total revenue. No single customer accounts for >10% of revenue per SEC disclosure · 70.0%

Premier Inc. (GPO)

NASDAQ:PINC

Group purchasing organization (GPO) agreement; AngioDynamics awarded a dual-source national GPO contract for implantable infusion ports (awarded 2019). Premier aggregates purchasing for ~4,000 US hospitals

Cardiva

Long-standing distribution partner since 2012 for vascular access portfolio in Spain; expanded in 2023 to include oncology portfolio and Italian market. Covers multiple European markets

Kimal PLC

Distribution partner for vascular access products (PICCs, dialysis catheters, midlines, ports) in the UK. Long-standing partnership extended in 2022

Getz Healthcare

Distribution partner for the NanoKnife System (IRE ablation) and other AngioDynamics products in Australia and New Zealand

Proxies

Public comparables and monitoring names used as representatives for the analysis.

Proxies

Merit Medical Systems, Inc.

LeMaitre Vascular, Inc.

Teleflex Incorporated

CONMED Corporation

AtriCure, Inc.

Merit Medical Systems, Inc.

NASDAQ:MMSI

Direct competitor in vascular access and interventional procedure kits; acquired AngioDynamics' dialysis catheter and BioSentry product portfolios in 2023. Most comparable pure-play med-device peer with similar product adjacencies

LeMaitre Vascular, Inc.

NASDAQ:LMAT

Focused on peripheral vascular devices, a core end-market for AngioDynamics. Comparable size, sales model (direct + distributor), and product exposure to vascular surgery

Teleflex Incorporated

NYSE:TFX

Major player in vascular access and interventional devices. Broader scale but highly relevant comparator for AngioDynamics' Med Device segment (catheters, ports, drainage)

Focused on innovative surgical ablation technologies (similar to NanoKnife IRE platform); med-tech growth story with comparable margin profile and regulatory pathway exposure

Geographic

Region-level exposures that can distort the supply network.

Geographic

United States

China / Asia Pacific

European Union

US Hospitals & Physician Practices

Getz Healthcare

Cardiva

Kimal PLC

United States

Revenue concentration (84% of FY2025 sales); regulatory dependency (FDA 510(k) clearances, PMA pathway)

US Hospitals & Physician PracticesDirect sales to ~4,000+ US hospital accounts and surgery centers via direct sales force

China / Asia Pacific

Component sourcing exposure; growth market via distributors

Getz HealthcareDistribution in Australia and New Zealand

European Union

Regulatory exposure (MDR transition, CE marking); distribution via Cardiva, Kimal, M3 Medical

CardivaDistribution partner for Spain, Italy, and other European markets

Kimal PLCUK distribution partner for vascular access portfolio

Concentration

Customer, supplier, or partner concentration exposures that can distort the supply network.

Other

Critical

Single & limited source supplier dependency: The company relies on sole or limited sources for multiple key raw materials, components, and finished products. A disruption at any critical supplier could materially impact production and revenue. Specific suppliers not publicly identified

Other

High

Manufacturing transition risk: Shift from owned manufacturing (Queensbury & Glens Falls facilities closed H2 2025) to outsourced contract manufacturing model creates execution risk related to quality, regulatory compliance, cost, and supply continuity during the transition period

Other

High

Med Tech growth concentration: Future growth is heavily dependent on the Auryon, AlphaVac, and NanoKnife platforms. Any regulatory setback, competitive entrant, or technology disruption affecting these products would disproportionately impact the company's trajectory

Other

Medium

Tariff exposure: FY2025 gross margin impacted by ~204 bps of tariff-driven COGS ($1.6M). Further trade policy changes could erode margins given dependence on global supply chain for components and materials

Revenue mix

How the target's revenue mix translates into supply-chain leverage and dependency.

Med Tech

43.3%

$0.1B

Highest-growth segment (19.5% YoY in FY2025). Includes Auryon, AlphaVac, NanoKnife, and AngioVac systems. These are capital equipment/consumable systems that rely on specialized electronics (solid-state laser generators, IRE generators), precision catheter extrusion/tubing, fiber optics, nitinol components, and sterile disposables. Single-source supplier risk for several key components is material.

Med Device

56.7%

$0.2B

Larger but lower-growth segment (~1-3% growth). Includes angiographic catheters, ports, drainage catheters, VenaCure EVLT kits, PICCs/midlines (divested Feb 2024), and dialysis catheters (divested Jun 2023). Heavily reliant on MedComp (Medical Components Inc.) as a key supply partner for venous access products. Shift to contract manufacturing model announced Jan 2024 reduces in-house production.

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