Therapeutic and diagnostic devices maker AngioDynamics (ANGO) has expanded its VenaCure EVLT laser vein treatment with the launch of a new procedure kit. The new 90 centimeter (cm) NeverTouch kit features a longer TRE-Sheath introducer to gain vascular access above the ankle for treating varicose veins (abnormally swollen veins), a condition affecting more than 40 million Americans annually.

The availability of the 90 cm procedure kit will offer physicians more options, enabling them to provide tailor-made treatments according to each patient’s needs. The new kit complements the existing 25 cm, 45 cm and 65 cm kit lengths.

VenaCure EVLT, which includes DELTA series laser, procedure kits, accessories and a delivery system, continues to be the most preferred laser vein treatment in the market. VenaCure EVLT addresses the high-growth venous intervention market, representing an attractive opportunity for AngioDynamics. The VenaCure franchise continues to grow at a healthy pace in the U.S.

AngioDynamics develops and markets therapeutic and diagnostic devices to treat peripheral vascular disease (“PVD”) and other non-coronary diseases. The company has market leading positions in several of its operating segments including angiographic products and thrombolytic catheters.

AngioDynamics is ramping up R&D investments to broaden its product portfolio. The company is driving product innovation by investing roughly 10% of its revenues in R&D. AngioDynamics has already launched 10 products in the current fiscal year (including four in the last reported quarter), thereby meeting its target for the year.

AngioDynamics’ focus on interventional peripheral products is expected to help drive future growth. The company should continue to benefit from the ongoing shift from open surgery to less invasive interventional procedures.

However, AngioDynamics’ product lines face strong challenges from the competitive offerings of its larger rivals such as Boston Scientific (BSX) and C.R. Bard (BCR). We also remain wary about the pricing and procedure volume headwinds, which continue to affect the company’s core vascular business. We currently have a Neutral recommendation on AngioDynamics.

 
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