Bard continues cardiology sell-off:
This article was originally published in Clinica
Executive Summary
CR Bard is to make a further divestment in its cardiology sector with the sale of its global intra-aortic balloon catheter and pump business to Arrow International, of Reading, Pennsylvania, for $28 million in cash. Bard will retain around $3 million working capital. Last month, the company sold its global coronary catheter laboratory business to Arterial Vascular Engineering for $600 million (see Clinica No 816, p 1). Bard, of Murray Hill, New Jersey, says it will consider options for its remaining coronary vascular businesses over the next few months. Separately, Arrow has bought custom tubing manufacturer Medical Parameter, an $8 million turnover company based in Woburn, Massachusetts.