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GLENS FALLS, N.Y. -- A local medical device creator is making a nearly $400 million buy in Glens Falls.

AngioDynamics in Latham is buying Navilyst Medical for $372 million.

AngioDynamics provides catheters for vascular access, peripheral vascular disease and oncology.

With the new acquisition, the company says it will double its share of the vascular access market while building its presence in the peripheral vascular market.

"You have to be able to negotiate on a larger scale. And you have to be able to deliver value. And so we believe that the combination of these businesses create a significant amount of value in the market place," said AngioDynamics CEO Joe DeVivo.

All workers from both companies will keep their jobs after the acquisition is complete.