Interventional technology provider C.R. Bard has inked an agreement to purchase breast brachytherapy developer SenoRx for approximately $200 million in cash.
The purchase price of $11 per share will be structured as a merger subject to the approval of SenoRx's shareholders and satisfaction of customary conditions, according to Bard of Murray Hill, NJ. Upon completion of the merger, Irvine, CA-based SenoRx will become part of Bard's peripheral vascular division.
For Bard, the acquisition of SenoRx will expand its business beyond its current portfolio of products used in ultrasound-guided procedures to include stereotactic and MRI-guided breast biopsy devices, according to the firm. Bard hopes to complete the deal in the third quarter.
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