Bard to acquire Rochester Medical
MURRAY HILL, N.J. – C.R. Bard and Rochester Medical, two players in the urology market, announced Sept. 4 that they have entered into an agreement to merge. The deal is expected to close later this year, with Bard paying $20 per share, about $262 million, for Rochester. “Rochester’s double-digit growth product portfolio, including their customer access programs, is a key building block in our strategy to access faster growing markets over the long-term,” stated Timothy Ring, Bard chairman and CEO, in a press release. “We believe that strengthening our position in the home care market, and specifically the large and fast-growing intermittent self-catheter segment, is strategically important at this time.” Rochester manufactures Magic 3 intermittent self catheters and markets a variety of other products. Bard develops, manufactures and markets vascular, urology, oncology and surgical specialty products. The merger has been approved by the directors of each company, and will be subject to regulatory approval and shareholder approval.