logo
Plus   Neg
Share
Email
Comment

Bard To Buy Privately-held Medafor For $200 Mln - Quick Facts

C. R. Bard, Inc. (BCR), Monday said it entered into a definitive agreement to acquire privately-held developer and supplier of plant based hemostatic agents, Medafor, Inc., for $200 million. On specific revenue-based milestones, Bard would make future contingent payments of an additional $80 million hrough June 30, 2015. Bard expects this acquisition to add about 1 percent to revenue growth in 2014, and be a few cents dilutive to adjusted earnings per share in 2013 and neutral to 2014. The deal is expected to close later this year, and through which Bard anticipates business expansion of surgical specialties in its Davol subsidiary.

Timothy Ring, Bard's chairman and CEO, commented, "With its safety and ease of use profile, the Arista hemostat provides a great alternative to other commercially available hemostats while providing strong synergy with our Progel Sealant technology and sales channel. This technology platform represents an important building block for our surgical specialty product offering and provides a global footprint for continued expansion."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Dish Network Corp. on Wednesday reported a surge in profit for the fourth quarter from last year, reflecting an income tax benefit that helped offset the impact of lower revenues. The latest quarter's results were positively impacted by an income tax benefit of about $1.2 billion due to an adjustment to deferred tax assets and liabilities related to tax reform legislation. Shares of Glencore plc were gaining around 4 percent in the morning trading in London after the producer and marketer of commodities reported Wednesday a significant growth in fiscal 2017 profit on strong higher commodity prices. Chief Executive Officer Ivan Glasenberg said, "Our performance in 2017 was our strongest on record, driven by our leading Marketing and Industrial asset businesses." Shares of Orange SA were gaining around 2 percent in the early morning trading in Paris after the French telecom major reported Wednesday a significant growth in fiscal 2017 profit from continuing operations with revenue growth in most regions, mainly France and Spain. In France, revenue grew for the first time since 2009. Attributable net income, meanwhile, declined on the absence of prior
comments powered by Disqus
Follow RTT