C.R. Bard, Murray Hill, N.J., announced it acquired Lutonix, Minneapolis, in a deal worth up to $325 million.
C.R. Bard acquires Minn. device company
C.R. Bard, a medical technology developer, paid $225 million on close of the deal, the company said in a news release.
C.R. Bard agreed to another $100 million payout should the drug-coated percutaneous transluminal angioplasty balloon developed by Lutonix receive regulatory approval from the Food and Drug Administration.
In the news release, Timothy Ring, Bard’s chairman and CEO, called the acquisition a strategic fit because of Lutonix’s position in what he called a “large potential market.”
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