logo
Share SHARE
FONT-SIZE Plus   Neg

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
Women's specialty-clothing retailer J. Jill Inc. said it has launched an initial public offering of 11.67 million shares of its common stock. All shares are being sold by an existing stockholder and J. Jill will not receive any proceeds from the offering. Long queues at peak dining hours at Wendy's may be a history, as the company is planning to introduce automated self ordering kiosks at its more than 1000 retail locations by this year end. The automation will also help in cutting labor costs. Canadian music retail chain Sunrise Records said it plans to take over 70 retail spaces in Canada being vacated by HMV Canada, the industry's largest retailer. The new brick and mortar locations are in malls across Canada. However, Sunrise's expansion comes as people are increasingly shifting to streaming options for music and videos rather than buying tangible, touchable albums.
comments powered by Disqus
Follow RTT