Bard secures Venetec
This article was originally published in The Gray Sheet
Executive Summary
CR Bard announces April 10 that it has completed its $166 mil. acquisition of StatLock securement technology manufacturer Venetec International. Bard has estimated that the move will result in an additional $18 mil. in 2006 revenue (1"The Gray Sheet" March 6, 2006, In Brief)...
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Bard buy
CR Bard signs $166 mil. agreement March 1 to acquire catheter securement technology firm Venetec International. Bard, with net sales of $1.77 bil. in 2005, estimates the deal will increase 2006 revenue growth by one percentage point over prior expectations, to 10%-11%, or by roughly $18 mil. The deal is expected to close in the second quarter. San Diego-based Venetec makes the StatLock line of molded gripping devices, which provide an alternative to tape or sutures for holding catheters in place. The items are used in catheter insertion kits and trays sold by Bard and other firms. Bard CEO Timothy Ring said the StatLock devices "fit very well strategically" with leading Bard products, including central venous and peripherally inserted central catheters and Foley and dialysis catheters...
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