Tyco continues to invest heavily in its healthcare business. The firm has signed a definitive agreement to acquire interventional firm C.R. Bard of Murray Hill, NJ, in a stock swap valued at approximately $3.2 billion.
The acquisition will provide Tyco Healthcare with a new product pipeline, including new hernia repair, gastroesophageal reflux disease, prostate cancer and peripheral vascular disease products, as well as platforms for future acquisitions and distribution agreements, according to Tyco. Bard had 2000 revenues of $1.1 billion.
If the deal is completed, Bard would join other companies such as Kendall, U.S. Surgical, Sherwood, and Mallinckrodt in the Tyco Healthcare portfolio. Tyco of Pembroke, Bermuda, completed its acquisition of Mallinckrodt in October.
By AuntMinnie.com staff writersMay 30, 2001
Related Reading
Tyco completes Mallinckrodt purchase after agreeing to settle antitrust issues, October 18, 2000
Tyco announces deal to acquire Mallinckrodt, June 28, 2000
Bard gets clearance for biliary stent, April 17, 2001
Bard to test ePTFE-covered stent, March 8, 2001
Bard gets clearance for Luminexx, March 6, 2001
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