MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

Home » Bard nabs angioplasty balloon maker for $325 million | Acquisitions Roundup

Bard nabs angioplasty balloon maker for $325 million | Acquisitions Roundup

By

C.R. Bard logo
Lutonix logo

C.R. Bard (NYSE:BCR) acquired Minneapolis-based angioplasty balloon maker Lutonix Inc. for $325 million.

The merger, announced during Bard’s 2012 guidance update conference call, grants Lutonix $225 million up front with another $100 million when Lutonix achieves pre-market approval for its drug-coated balloons.

Lutonix is conducting the first and only investigational device exemption trial approved by the FDA for a drug-coated percutaneous transluminal angioplasty balloon for treatment of peripheral artery disease, according to a press release.

"Lutonix has the only third-generation drug-coated balloon technology. They also have a significant lead with respect to U.S. launch, outstanding quality and depth of pre-clinical science, a strong clinical program, a very skilled and motivated team, and a coating technology we believe will demonstrate superior safety and efficacy," Bard chairman & CEO Timothy Ring said in prepared remarks. "This position of leadership in a large potential market, combined with our current market leadership in PTA, makes this acquisition a compelling strategic fit for Bard."

Lutonix enrolled the first patient in its Levant 2 clinical trial, the largest randomized peripheral drug-coated balloon trial to date, in July 2011. PMA submission could occur in 2014, the company estimates.

The devices have CE Mark approval for sale in Europe, and Bard plans to begin sales in the European Union during the second half of 2012, concurrent with larger registry studies to support broader marketing claims.

No such devices are cleared for the U.S. just yet.

Bard expects the merger to reduce 2012 earnings per share by about 25 cents, according to a press release.

The merger hasn’t done much for BCR stock, which dove more than 5 percent to $83.20 by about 10:45 a.m. today after closing at $87.78 last night.

Here’s a roundup of companies announcing mergers, acquisitions and divestitures.

Mergers and Acquisitions

Mindray Medical to grab controlling share in Chinese diagnostic company
Mindray Medical International (NYSE:MR) agreed to acquire a controlling stake in Chinese diagnostics company Hunan Changsha Tiandiren Biotech Co. Ltd. The terms of the deal were not made public. Read more

iMedX acquires Abacus

iMedX nabbed up more of its competition in the electronic medical record management systems by acquiring the assets of Abacus Transcriptions Inc. for an undisclosed amount.
Read more

In case you missed it

RSS From Medical Design & Outsourcing

  • Contract manufacturers fuel medtech expansion in Costa Rica
    Medical device manufacturing is flourishing in the Central American country, spurred by a host of incentives. This year is seeing a wave of expansions by medtech contract manufacturers in Costa Rica. Medtech OEMs have made the Central American company a manufacturing hub since the 1990s. Major companies operating there include Abbott, Bayer, Boston Scientific, Cardinal… […]
  • Purdue researchers develop biosensor for use during surgery
    Surgeons may soon be able to identify critical regions in tissues and organs during surgery using a biosensor recently developed at Purdue University. The biosensor can be printed in 3D using an automated printing system and allows for simultaneous recording and imaging of tissues and organs during surgery, according to its creator, Chi Hwan Lee.… […]
  • Amcor adds heat seal coating for medtech packaging
    Amcor has introduced a new heat seal coating for medical-grade DuPont Tyvek and paper packaging applications. The Buffalo Grove, Ill.-based company designed this next-generation coating technology to deliver enhanced performance features for healthcare applications. Amcor will produce the new coating, ACT2100, in multiple locations worldwide to offer customers the flexibility to receive supply from the… […]
  • Latest iCad 3D mammography AI gains CE mark
    iCad (NSDQ:ICAD) today announced that the third version of its ProFound AI for digital breast tomosynthesis (DBT) has won CE mark approval. Compared with previous software versions, the latest generation of ProFound AI offers up to a 10% improvement in specificity performance while maintaining a high sensitivity level and approximately 40% faster processing on the… […]
  • Device could reduce chemotherapy-induced pain
    Researchers in Singapore have partnered with Paxman Coolers (U.K.) to develop a device to prevent or reduce numbness and pain caused by chemotherapy. Chemotherapy-induced peripheral neuropathy (CIPN) is a severe side-effect of chemotherapy drugs called taxanes, which are used to treat common cancers such as breast, lung, ovarian and stomach cancer. CIPN affects about 1.4… […]
  • What medtech’s top executives learned from their dads
    For better or worse, parents including dads play a major role in who we become. With Father’s Day approaching in the U.S., Medical Design & Outsourcing and MassDevice reached out to some of medtech’s top executives to ask what they learned from their dads. Here’s what they said: “My father built a business in the… […]
  • FDA issues docs on medtech remanufacturing, servicing
    The FDA has issued two documents to help distinguish between remanufacturing and servicing of medical devices. One is a draft guidance written to clarify the activities that likely constitute the remanufacturing of a device. The other is a discussion paper on cybersecurity and medtech servicing. The guidance also describes the FDA’s current position on remanufacturing,… […]
  • HelixBind wins $3M grant for sepsis test
    HelixBind announced today it has landed a $3 million federal grant to help develop a test to diagnose bloodstream infections associated with sepsis. The FDA granted Breakthrough Device Designation to the RaPID/BSI test and platform in 2020. Boxborough, Mass.-based HelixBind’s RaPID platform can provide definitive identification and characterization of infections directly from a blood draw… […]
  • Supreme Court upholds Affordable Care Act again
    The U.S. Supreme Court has turned back a third Republican challenge to the Affordable Care Act (ACA), this time by a 7-2 vote. The latest challenge to the law popularly known as Obamacare came from Texas and other states, backed by the administration of former President Donald Trump. The justices ruled that the challengers lacked… […]
  • New monitor could diagnose pregnancy complications
    Researchers at the National Institutes of Health (NIH) have developed a prototype device that could potentially diagnose pregnancy complications by monitoring the oxygen level of the placenta. The device sends near-infrared light through the abdomen to measure oxygen levels in the arterial and venous network in the placenta. The method was used to study the… […]
  • Dabir Surfaces forges deal with Vizient
    Dabir Surfaces (Harwood Heights, Ill.) recently announced that it has landed a contract with group purchasing firm Vizient. Dabir also announced a deal with Premier this month.  The contract with Vizient, effective April 1, 2021, involves both OR products and patient care products. Dabir will provide powered overlay surfaces for patients at risk of developing pressure… […]

Leave a Reply