Bio/Med Innovation, Recruitment Drive Growth in New York State
“Companies that innovate and take healthcare costs out are going to be rewarded.”
Joseph M. DeVivo
President and Chief Executive Officer
Location: Albany, N.Y.
Description: AngioDynamics Inc. is a leading provider of innovative, minimally invasive medical devices used by professional healthcare providers for vascular access, surgery, peripheral vascular disease and oncology. AngioDynamics' diverse product lines include market-leading ablation systems, fluid management systems, vascular access products, angiographic products and accessories, angioplasty products, drainage products, thrombolytic products and venous products.
Employees: 1,300 Worldwide; 900 New York State
Revenue: $354.5 million
If New York state can rally around the growing bioscience and medical technology industry here, positive economic impact would follow. Bio/Med companies like Latham, N.Y. based AngioDynamics bring high-paying jobs and draw talent to their respective communities.
AngioDynamics employs some 900 people at three facilities in New York, which produce innovative, minimally invasive medical devices used by professional healthcare providers for vascular access, surgery, peripheral vascular disease and oncology. The company also has facilities in two other states: Massachusetts and Georgia as well as an overseas presence in Amsterdam, Australia, Hong Kong, Germany and the U.K.
“I don’t see any short-term desires to leave the state, but as any company that manufactures here, we’re constantly cycling a decision point as to do we maintain our current footprint or do we move it,” President and Chief Executive Officer Joseph M. DeVivo said.
Difficulties in the industry include FDA regulations that can stymie startups in New York or any other state. But, the improving economy offers a lot of opportunity for Bio/Med businesses.
“Companies that innovate and take healthcare costs out are going to be rewarded,” DeVivo said. “Having a technology that improves an outcome that can show a reduction in healthcare costs will win.”
And the hope is they win in New York State. In AngioDynamics’ case, the company provides paychecks 40 percent higher than the average job in the area, DeVivo said.
The Bio/Med industry requires specialized talent and that attracts recruits from other areas.
“We’ve been trying to bring talent into the organization through a pretty robust internship program that we run every summer,” DeVivo said. “That’s always a way for us to expose ourselves to the new, up-and-coming talent in the area.”
He added AngioDynamics hires more and more from the intern pool of 30 to 50 each year.
“We bring new talent in and we develop talent and create opportunities for them to grow throughout the companies and increase their income,” DeVivo said. “That’s a benefit to the community and to the local economy.”
No region or state will build a name for itself or benefit the community without a quality product, which is where the main focus is for AngioDynamics and DeVivo.
“We’re just focusing on launching new technology like our thromboresistant BioFlo family of Vascular Access products; Acculis microwave system and AngioVac cannula and circuit,” he said. “We have some very novel technologies that’ll help grow our top line and make us a more valuable company.”