C.R. Bard (NYSE:BCR) is set to announce the purchase of Clearstream Technologies, an Ireland-based developer of catheters used in angioplasty procedures, according to a report by the U.K.-based Sky news service.
Murray Hill, N.J.-based Bard will pay a “price well in excess of today’s closing share price of 45.89p,” according to Sky.
Clearstream, based in County Wexford, Ireland, manufactures catheters and stents used in angioplasty procedures. Company officials did not release a statement to the news service.
Bard derives a little under a third of total sales from its vascular business, which produces a wide-array of catheters and stents used to treat peripheral vascular disease and heart arrhythmias. Through the first six months of 2011, Bard’s vascular business jumped 15 percent to $413 million, compared to the same period last year.