Bard announces SenoRx takeover
6 May 2010 00:00 in Medical Company Restructures
Bard has agreed a deal to acquire fellow medical device company SenoRx in a move designed to increase its offering of breast cancer care products.
The deal has been valued at around $200 million (132.9 million pounds) and is expected to be completed during the third quarter of this year, subject to approval by SenoRx shareholders and regulatory bodies.
Once the merger is complete, Bard will be able to add products such as the EnCor breast biopsy system and Contura balloon catheter to its portfolio, while SenoRx will become part of Bard's peripheral vascular division.
Timothy Ring, chairman and chief executive officer of Bard, said the deal will allow Bard to offer market-leading products across the entire breast biopsy and marker sector.
He added: "SenoRx brings significant product innovation in breast care and we are confident that the combination will result in positive benefits for hospitals, doctors and patients."
This comes after the company last week reported that its sales for the first quarter of 2010 exceeded levels from the corresponding period of 2009 by nine per cent.
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Story collated for Zenopa by the Adfero News Agency