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
Embark Veterinary Inc., a startup that makes dog DNA-testing kits for pet owners, vets and breeders, said it has raised $4.5 million in funding from investors and relocated its headquarters to Boston. The company intends to use the new funding to expand its canine genetic testing suite for pet owners, breeders, and veterinarians. Intel Corp. has completely shut down its wearables division about two weeks ago, CNBC reported, citing a person familiar with the matter. The company reportedly intends to focus on augmented reality. According to the CNBC report, Intel laid off about 80 percent of the team that made the Basis fitness watch in November 2016 and has now eliminated the division entirely. The Federal Trade Commission is investigating allegations that Amazon.com Inc. misled consumers about its pricing discounts, Reuters reported, citing a source close to the probe. The FTC probe is reportedly part of the agency's review of Amazon's proposed $13.4 billion deal to buy grocery chain Whole Foods Market Inc.
comments powered by Disqus
Follow RTT