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Panzer gone from AngioDynamics

By Bethany Bump
Wednesday, May 29, 2013

Medical device manufacturer AngioDynamics terminated its senior vice president and general manager last week.

Alan Panzer was let go May 22, but his employment technically won't end until July 31. He will receive his current base salary and benefits until Feb. 28, 2014, as well, according to the terms of a separation agreement and general release.

The company offered no explanation for his termination, which was recorded in a Tuesday filing with the U.S. Securities and Exchange Commission.

AngioDynamics just came off a disappointing quarter. The Latham-headquartered company reported a net loss of 3 cents per share in the third quarter, despite a year-over-year increase in net sales.

Net sales in the fiscal 2013 third quarter ending Feb. 28 were $81.6 million, up from $51.6 million a year ago. But taking into account the company's sales from its 2012 acquisition of global medical device company Navilyst and discounting sales of a device its no longer allowed to sell, the company actually saw its net sales for the quarter shrink 2 percent from prior-year net sales of $83.4 million.

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