Mission Statement, Vision, & Core Values (2024) of AngioDynamics, Inc. (ANGO)

An Overview of AngioDynamics, Inc. (ANGO)

General Summary of AngioDynamics, Inc.

AngioDynamics, Inc. (NASDAQ: ANGO) was founded in 1982 and is headquartered in Latham, New York. The company primarily specializes in the development and manufacture of innovative, minimally invasive medical devices for various interventional procedures. AngioDynamics offers products and services in the fields of vascular access, oncology, and peripheral vascular disease. Its notable product lines include the BioFlo catheter, the VenaCure laser system, and the Vortex and OncoVue systems.

As of 2024, AngioDynamics reported sales of approximately $270 million, reflecting a growth trajectory driven by expanding market demand and product adoption.

Company's Financial Performance in the Latest Financial Reports

In the latest financial report for the fiscal year ending May 31, 2024, AngioDynamics achieved record-breaking revenue of $270 million, a significant increase of 12% compared to the previous year. The sales growth was primarily attributed to the strong performance of its oncology and vascular access product segments. The following table summarizes the latest financial performance metrics:

AngioDynamics has also seen a robust expansion into emerging markets, contributing to the revenue boost. The company reported a 20% increase in sales in international markets, driven by growing healthcare access and increasing demand for innovative medical technologies.

Introduction to AngioDynamics as a Leading Company in the Industry

AngioDynamics is recognized as a leading player in the medical device industry, particularly in the fields of vascular access and oncology treatment. The company's commitment to innovation is highlighted by its consistent investment in research and development, which accounted for approximately 10% of revenue in 2024. AngioDynamics' strong market position is evidenced by its diversified product portfolio and strategic partnerships.

To understand the factors behind AngioDynamics' success and its impact on the medical device industry, readers are encouraged to explore further insights into the company's operational strategies and market dynamics.

Mission Statement of AngioDynamics, Inc. (ANGO)

Company's Mission Statement Overview

AngioDynamics, Inc. (ANGO) presents a mission statement that functions as a strategic guide for their operations and long-term objectives. The company's mission underscores its commitment to enhancing patient outcomes through innovative medical technologies, establishing a clear identity in the healthcare industry.

Commitment to Innovation

The first core component of AngioDynamics' mission statement revolves around a strong commitment to innovation. The company aims to develop cutting-edge products that address unmet medical needs.

In 2022, AngioDynamics invested approximately $18 million in research and development (R&D), focusing on novel therapies and technologies. This investment represents about 10% of its total revenue of $173 million for that fiscal year.

Focus on Patient-Centric Solutions

The second element emphasizes a focus on patient-centric solutions. AngioDynamics prioritizes delivering high-quality products that directly improve the quality of life for patients undergoing various medical procedures.

According to a 2023 report, AngioDynamics’ products have contributed to a reduction in complications by 20% in patients receiving vascular access procedures compared to traditional methods. The company's flagship product, the NanoKnife System, has been utilized in over 10,000 procedures worldwide, underscoring its impact on patient care.

Commitment to Quality and Safety

The final core component highlights the commitment to quality and safety in all aspects of production and service delivery. AngioDynamics adheres to stringent guidelines and regulatory requirements to ensure that their products meet high safety standards.

In compliance with FDA regulations, AngioDynamics received a 2023 ISO 13485 certification, reflecting its robust quality management systems. The latest audit revealed that 98% of their products met or exceeded performance expectations, which is crucial for maintaining trust in their medical devices.

Vision Statement of AngioDynamics, Inc. (ANGO)

Vision Statement of AngioDynamics, Inc.

The vision statement of AngioDynamics, Inc. outlines the company's aspirations and strategic direction for 2024. It focuses on innovation, patient care, and global health impact, aiming to enhance the quality of life through advanced medical technologies.

Innovation in Medical Technology

AngioDynamics aims to be at the forefront of innovation in the medical technology sector. As of 2024, the company has invested approximately $30 million in research and development (R&D), which represents about 12% of its total revenue for the fiscal year 2023, showcasing a commitment to developing cutting-edge solutions.

Commitment to Patient Care

AngioDynamics' vision emphasizes its dedication to improving patient care through its products. In 2024, the company aims to increase the accessibility of its devices in hospitals and clinics, projected to reach an additional 500 healthcare facilities across the United States, enhancing patient outcomes.

• Enhanced Access: Reach additional 500 facilities
• Patient Satisfaction: Target 90% satisfaction score
• Clinical Outcomes: Aim for 20% reduction in complications

Global Health Impact

The company envisions a broader impact on global health by expanding its market reach. AngioDynamics plans to penetrate emerging markets, targeting a revenue increase of 15% in Asia-Pacific regions by 2025. The global market for minimally invasive devices is projected to grow at a CAGR of 8% from 2023 to 2030.

Strategic Partnerships

In line with the vision statement, AngioDynamics is committed to forming strategic partnerships with healthcare providers and technology firms. In 2024, the company plans to enter into at least 5 new partnerships to foster innovation and broaden its reach.

• New Partnerships: 5 agreements
• Joint Ventures: 2 initiatives
• Collaborative Research Projects: 3 ongoing

Employee Engagement and Development

To achieve its vision, AngioDynamics recognizes that employee engagement is crucial. The company seeks to enhance workforce satisfaction, targeting an employee engagement score of 85% by 2024. This includes investing in training programs with a budget of $2 million.

Core Values of AngioDynamics, Inc. (ANGO)

Integrity

The core value of integrity at AngioDynamics, Inc. underscores the importance of honesty and transparency in every action. This value is essential for maintaining trust with customers, employees, and stakeholders.

AngioDynamics demonstrates its commitment to integrity through:

• Adherence to legal and ethical standards across all operations.
• Regular training sessions focused on ethical conduct and compliance, with over 95% employee participation in 2023.
• Accurate reporting of financial performance, with a revenue of $233.6 million for the fiscal year 2023.

Innovation

Innovation is a cornerstone of AngioDynamics' mission. This value drives the company to continuously evolve its product offerings and enhance patient care.

Examples of AngioDynamics' commitment to innovation include:

• Investment of $8.4 million in research and development in 2023.
• Launch of the new ALPHATEC® device, which received FDA clearance in Q2 2023.
• Partnerships with medical universities for developing next-generation technologies.

Collaboration

Collaboration emphasizes teamwork and partnership within AngioDynamics and with external stakeholders. This value fosters an environment of openness and shared success.

Demonstrated through:

• Cross-functional teams formed to tackle product development challenges, leading to a 15% reduction in time-to-market for new products in 2023.
• Joint projects with healthcare providers resulting in better alignment of products with market needs.
• Participation in over 30 collaborative clinical studies, generating valuable insights into product effectiveness.

Accountability

Accountability is about owning actions and decisions, ensuring that every employee is responsible for their contributions towards the company’s goals.

AngioDynamics illustrates accountability through:

• Regular performance reviews with 100% of employees receiving feedback annually.
• Establishment of Key Performance Indicators (KPIs) tied to financial and operational goals; in 2023, KPIs indicated a 12% increase in operational efficiency.
• Implementation of a whistleblower policy ensuring employees can report unethical behavior without fear.

Commitment to Quality

AngioDynamics is dedicated to delivering high-quality products that meet stringent safety and efficacy standards, a reflection of its commitment to quality.

This commitment is shown in:

• Achieving ISO 13485 certification, ensuring adherence to international quality management systems.
• Reducing product return rates to less than 1% in 2023, showcasing the reliability of its products.
• Conducting over 75 quality audits across manufacturing sites to maintain high standards.

Customer Focus

Customer focus prioritizes the needs and experiences of clients, ensuring that AngioDynamics develops solutions that truly address their challenges.

Examples include:

• Implementation of a customer feedback system leading to a 20% increase in customer satisfaction scores in 2023.
• Development of tailored solutions based on direct customer input, resulting in a 30% growth in repeat business.
• Establishment of a dedicated customer support team, achieving response times of under 24 hours for inquiries.