On Tuesday AngioDynamics announced the acquisition of fellow medical device manufacturer Navilyst. As our Matt Hunter reporters, the move should keep local employees in place.

  To view our videos, you need to
enable JavaScript. Learn how.
install Adobe Flash 9 or above. Install now.

Then come back here and refresh the page.

GLENS FALLS, N.Y. – "I think any time you hear news of mergers or acquisitions, the initial reaction is one of being very nervous," Glens Falls Economic Development Director Ed Bartholomew said.

While there may have been a few tense moments, the nerves of Glens Falls city officials were quickly cooled after it was announced Tuesday that Massachusetts based medical device manufacturer Navilyst, which runs a plant in Glens Falls, was being acquired by another local company, AngioDynamics.

"As I've thought it through, I don't see it as transformational,” said AngioDynamics CEO Joe DeVivo, who announced the news at a press conference at the company’s corporate headquarters in Latham Tuesday. “I don't see us doing things much differently, I just think we're going to be better."

"We know AngioDynamics has been very important to the community and the first thing we thought is, what's going to happen to the local jobs?" Glens Falls Mayor Jack Diamond said.

AngioDynamics will purchase Navilyst for $372 million. The company's plant in Queensbury is roughly four miles from the Navilyst facility.

Each location employs between 350 and 400 people and as it stands now, AngioDynamics executives say those numbers will likely stay the same, if not grow.

"You never know what's going to happen in a transaction, but this deal is designed for growth," DeVivo said.

With the merger, AngioDynamics expands its manufacturing capabilities and acquires Navilyst's trademarks and products.

The move all but solidifies the company as the local leader in the medical device manufacturing industry, which has been vital to Glens Falls since the 1950s.

"The medical device industry has been a backbone of economic development for our region and we're looking forward to continuing our relationship with AngioDynamics and working with them," Diamond said.

A company spokesperson says the deal is still under SEC review and should be finalized by spring.