Bard to buy SenoRx for $200m

Medical Device maker C.R.Bard, of Murray Hill, N.J., has reached an agreement to acquire SenoRx for $200 million.

The transaction has been approved by the boards of directors of both companies and will be structured as a merger subject to the approval of SenoRx’s shareholders.

SenoRx, which is based in Irvine, Calif., markets the EnCor stereotactic-guided and MRI-guided breast biopsy systems, the Gel Mark line of breast tissue markers and the Contura balloon catheter for the treatment of breast cancer, and had 2009 revenues of $55.6 million. Upon completion of the merger, the SenoRx organization will become part of Bard’s Peripheral Vascular division.

According to Bard, the addition of SenoRx will expand Bard’s business beyond its current portfolio of products used in ultrasound-guided procedures.

“The SenoRx acquisition represents a very compelling strategic opportunity for Bard, enabling us to provide customers leadership products across all breast biopsy and marker segments in addition to providing Bard its first therapeutic device for site-specific partial breast irradiation after lumpectomy procedures,” said Timothy Ring, Bard chairman and CEO. “SenoRx brings significant product innovation in breast care and we are confident that the combination will result in positive benefits for hospitals, doctors and patients.”

Bard expects the merger to be completed in the third quarter.