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AngioDynamics/Rita

This article was originally published in The Gray Sheet

Executive Summary

AngioDynamics subsidiary Rita Medical pays $2,750 to the U.S. government to settle allegations that it traded with an entity in Iran between October 2002 and January 2003 without disclosing the activities to the Treasury Department's Office of Foreign Assets Control, a violation of the Iranian Transactions Regulations. AngioDynamics bought radiofrequency ablation device maker Rita for $220 million in January (1"The Gray Sheet" Dec. 4, 2006, p. 10). Another device maker, EP MedSystems, paid $277,000 to settle similar charges in 2006 and earlier this year

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