C.R. Bard to Acquire Medafor for up to $280 Million
Medical device company C.R. Bardplans to acquire Medafor, a privately held developer and supplier of plant-based hemostatic agents such as Arista MPH Hemostat, which can control bleeding in patients for whom more conventional methods cannot be used, the company announced today.
The transaction structured as a merger includes a purchase price of $200 million, along with additional contingent payments of up to $80 million through June 30, 2015.
C.R. Bard says acquiring Medafor gives it the opportunity to expand in the global market for surgical hemostats, which is over $1.4 billion. C.R. Bard expects the transaction to add approximately 1% to revenue growth in 2014.
Bard Chairman and CEO Timothy Ring was quoted in the press release as saying the Medafor acquisition allows C.R. Bard to "continue to shift the mix of the portfolio to improve the organic growth profile of the business for the longer term," noting that the Arista hemostat "provides a great alternative to other commercially available hemostats while providing strong synergy with our Progel Sealant technology and sales channel."
The article C.R. Bard to Acquire Medafor for up to $280 Million originally appeared on Fool.com.Fool contributor Caroline Bennett has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.