Bard Picks Up Device Maker Lutonix For $325M

Law360, New York (December 20, 2011, 9:12 PM EST) -- New Jersey-based C.R. Bard Inc. will acquire fellow medical device company Lutonix Inc. for as much as $325 million to tap into an arterial disease treatment Lutonix has been developing, Bard announced Tuesday.

Bard said it would pay $225 million for Minneapolis-based Lutonix at the merger's closing and put forward an additional $100 million if the company's drug-coated balloon technology receives premarket approval from the U.S. Food and Drug Administration.

Lutonix is conducting the first and only FDA-approved investigational device exemption trial using drug-coated balloons for...
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