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
British lender Lloyds Banking Group Plc. Friday reported higher profit in its first half, benefited by increased net interest income and margin as well as lower impairment. Looking ahead, the company lifted its net interest margin forecast. Amgen reported an increase in second-quarter profit, driven by sales of arthritis drug Enbrel and osteoporosis treatments Xgeva and Prolia, and improved margins. Both earnings and sales topped Wall Street estimates. Electronic Arts Inc. (EA) on Thursday reported an increase in profit for the first quarter, reflecting continued strong digital revenues, with both earnings and revenues topping Wall Street estimates. However, shares of the company fell over 4 percent, after having detailed a weak outlook. Redwood...
comments powered by Disqus
RELATED NEWS
Trade BCR now with 
Follow RTT