Covidien (NYSE:COV) agreed to acquire Sunnyvale, Calif.-based device maker Barrx Medical Inc. for $325 million.
Barrx, a private company, specializes in minimally invasive radiofrequency ablation systems that target precancerous tissue in the esophagus.
Covidien will acquire all outstanding Barrx stock in a deal slated to close by January 31, 2012, according to a press release.
"Barrx Medical products and technology complement our current portfolio of energy-based products and will broaden our presence in the global gastrointestinal market," Covidien surgical solutions group president Bryan Hanson said in prepared remarks.
Barrx’s portfolio includes the Haloflex ablation system, which includes a radiofrequency generator and multiple catheters. The catheters deliver the radiofrequency energy to diseased tissue in the esophagus and to reduce bleeding associated with some chronic diseases, according to a press release.
The news hasn’t done much for COV on Wall Street, where shares were down 2 percent to $44.61 in afternoon trading.
Here’s a roundup of companies announcing mergers, acquisitions and divestitures.
- SurModics completes sale of pharma assets
SurModics Inc. (NSDQ:SRDX) completed the previously-announced sale of its SurModics Pharmaceuticals assets to Evonik Industries AG.
- Vidar sells to 3D Systems Corp. for $137 million in cash
Medical imaging technology maker VIDAR Systems Corporation announced that it will be acquired by 3D Systems
- Samsung picks up diagnostics maker
Samsung Electronics Co. Ltd. acquired the Nexus division of ITC Nexus Holding Company, maker of cardiac point-of-care testing solutions.
- Landauer lands IZI Medical for $93 million
Radiation monitoring equipment maker Landauer, Inc. (NYSE: LDR) acquired all of the outstanding equity interests of IZI Medical Products LLC of Baltimore, MD, for a purchase price of approximately $93 million.