Merit Medical to pay $100m for Bard, BD biopsy assets

Merit Medical (NSDQ:MMSI) said today that it agreed to pay $100 million for soft tissue biopsy assets Becton Dickinson (NYSE:BDX) and C.R. Bard (NYSE:BCR) need to sell to consummate their $24 billion merger. The deal covers BD’s Achieve and Temno biopsy systems and Tru-Cut biopsy needles, plus Bard’s Aspira pleural effusion drainage and peritoneal drainage systems, South Jordan, Utah-based Merit said. “We believe this is a perfect fit for Merit,” chairman & CEO Fred Lampropoulos said in prepared remarks. “These products are well established with an installed base and complement Merit’s CorVocet full core biopsy system and our recently-acquired bone biopsy products. “There are also a number of markets in which Merit has direct representation that will be expanded to include the acquired products, as well as new markets which we plan to develop,” Lampropoulos said. “In summary, we believe this transaction will provide complementary high-margin products, increased use of our existing facilities, market expansion opportunities, accretive margins, profits and our existing sales force utilization.” “Today’s announcement of our intent to divest two product lines is another step forward in the regulatory review process of BD’s planned acquisition of Bard,” added BD chairman & CEO Vincent Forlenza. “We continue to expect that the BD and Bard transaction will close in the fourth cal...
Source: Mass Device - Category: Medical Devices Authors: Tags: Mergers & Acquisitions Wall Street Beat Source Type: news