AngioDynamics, a provider of medical devices for vascular access, surgery, peripheral vascular disease, and oncology, announces a program designed to save $15 million to $18 million during the course of the next three years. During the course of the three-year program it is expected that the company’s New York employee base will be reduced by approximately 80-100 positions as a result of the reorganization.
The plan incorporates the consolidation of the company’s New York plants to establish a single manufacturing center in Glens Falls and a distribution center in Queensbury. AngioDynamics plans to invest $5-7 million in its Glens Falls facility, on top of approximately $2 million in one-off charges, to increase its capacity to accommodate the additional lines coming from the Queensbury plant.
“Our operational excellence program is focused on creating an organization that is more efficient within the context of its current assets,” says George Bourne, Senior Vice President and Chief Technology & Operations Officer. “We believe bringing our New York manufacturing teams under one roof and centralizing our distribution center will result in the propagation of best practices and continuous improvement techniques, while also contributing to our overall efforts to reduce costs.”
“The three-year savings of $15 million to $18 million will build on our initial integration savings of $10 million in fiscal 2013 and $5 million in fiscal 2014,” says Mark Frost, Executive Vice President and Chief Financial Officer. “This is an opportunity to not only bolster the gains earned through recent acquisitions and the execution of our strategic plan, but to invest in our New York team to position us well for the future by proactively anticipating, and reacting to, the rapidly changing healthcare industry.”
AngioDynamics’ product lines include ablation systems, fluid management systems, vascular access products, angiographic products and accessories, angioplasty products, drainage products, thrombolytic products, and venous products. The company’s corporate office is located in Latham, N.Y.
Release Date: December 5, 2013
Source: AngioDynamics Inc.
