AngioDynamics Powers Ahead with 7% Revenue Growth and Strong Med Tech Segment Performance
AngioDynamics, a leading medical technology company, has reported a strong start to its fiscal year 2027, driven by growth in its Med Tech segment. The company's total revenue grew by approximately 7%, marking a significant milestone in its transformation journey.
In a conference call held on October 8th, Jim Clemmer, President and Chief Executive Officer of AngioDynamics, highlighted the strength of the Med Tech segment, which grew more than 13% compared to the same period last year. This growth is a testament to the company's strategy, which has been guiding its transformation over the past several years.
The Med Tech segment now represents approximately 49% of AngioDynamics' total revenue, and this mix shift is expected to gain momentum as the year progresses. A key driver of this growth is the company's product, Auryon, which has achieved double-digit year-over-year growth for 21 consecutive quarters. Auryon remains one of the most consistent growth engines in AngioDynamics' business, with international adoption building and share-taking across both hospital and office-based laboratory settings.
In addition to its Med Tech segment, AngioDynamics is also growing above market in its mechanical thrombectomy business. The company has a versatile product on the market and a commercial team that is executing at a high level, allowing it to take share from competitors. This growth is expected to support the company's long-term clinical case for Auryon below the knee.
AngioDynamics' President and CEO-elect, Eric Honroth, brings over 20 years of leadership experience in medical devices and life sciences. He joins the company as President and Chief Executive Officer effective November 2nd, succeeding Jim Clemmer. Honroth has a strong track record of driving growth and profitability in large, complex organizations.
The company's financial performance was highlighted by Steve Trowbridge, Executive Vice President and Chief Financial Officer, who emphasized that the Med Tech segment is a significant contributor to AngioDynamics' overall revenue growth. The company's non-GAAP financial measures were also discussed during the call, providing insight into its operational goals and performance.
AngioDynamics' Q1 2027 results demonstrate the company's commitment to innovation and growth. With its strong Med Tech segment performance and strategic leadership changes, the company is poised for continued success in the medical technology industry.
