(ANGO) AngioDynamics Unveils New DuraMax Catheter

Therapeutic and diagnostic devices maker AngioDynamics (ANGO) has unveiled its new DuraMax stepped-tip chronic dialysis catheter in the U.S. The Queensbury, New York-based company has also launched the DuraMaxVP (VascPak) component kit designed for outpatient vascular access centers.

AngioDynamics has begun shipping the DuraMax catheter, which leverages its proprietary Curved Tip catheter technology. The next generation catheter has been geared to facilitate easier insertion, higher blood flow and dialysis efficiency, thereby improving patient outcomes.

Moreover, the catheter’s guidewire lumen, which positions the guidewire in the center of the leading edge of the catheter at the insertion site, significantly improves catheter placement vis-à-vis the existing options. Roughly 30%-50% of dialysis catheters are placed over a guidewire.

AngioDynamics is a leading provider of therapeutic and diagnostic devices for treating peripheral vascular and other non-coronary diseases. It has market leading positions in several of its operating segments including angiographic products and thrombolytic catheters and products. The company’s product lines face strong challenges from the competitive offerings of its larger rivals such as Boston Scientific (BSX) and C.R. Bard (BCR).

AngioDynamics’ offers its dialysis catheters as part of its “Vascular” business unit which has delivered sales of $38.3 million in third-quarter fiscal 2011 (roughly 70% of total sales), down 0.4% year over year, affected by significant pricing pressure and slowdown in procedure volume.

AngioDynamics continues 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 through its internal R&D effort, thereby meeting its target for fiscal 2011. Currently, we are Neutral on the stock, backed by a short-term Zacks #3 Rank (Hold).

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