Device maker buys Liberator Medical
MURRAY HILL, N.J. – C.R. Bard, a manufacturer of medical devices for vascular, urology, oncology and surgical specialty fields, announced today that it has acquired Liberator Medical for $181 million.
Liberator is a director-consumer-provider of home medical supplies, including catheters, ostomy, diabetes and mastectomy.
“As the population ages and more healthcare is expected to occur outside of the hospital setting, we believe that having direct access to the patient in the home is strategically important,” said Timothy Ring, Bard CEO and chairman. “We look forward to adding a strong distribution platform with potential for future growth to our product and technology platforms.”
Liberator was founded by Mark Libratore, a former Liberty Medical exec, more than a decade ago and has enjoyed steady growth since. In August, the provider reported net revenues of $20.4 million for its fiscal third quarter ended June 30, 2015, a 9.7% increase compared to the same period last year. Liberator began trading on the New York Stock exchange in 2013 under LBMH.
The transaction is structured as a merger and is expected to close in the first quarter of 2016.