C.R. Bard Inc. (NYSE:BCR) closed its acquisition of SenoRx Inc. (NSDQ:SENO).
The Murray Hill, N.J.-based device conglomerate bought Irvine, Calif.-based SenoRx for about $200 million, or $11 per share.
C.R. Bard made the purchase at a 14 percent premium over SenoRx’s May 4 closing price, when the companies announced the deal. The share price also represents a 41 percent premium above the average closing price of SenoRx shares in the 90 trading days running up to the announcement, according to a press release.
SenoRx develops devices for detecting and treating breast cancer. Its products include the EnCor breast biopsy system, Gel Mark breast tissue markers and Contura balloon catheter. The company’s revenue was $55.6 million in 2009.
C.R. Bard posted first-quarter sales of $650.8 million, up 9.1 percent compared with $596.4 million during the same period last year. In December 2009, it purchased the Salt Lake City-based hemodialysis catheter business of Spire Corp. (NSDQ:SPIR).