Bard buys vascular access device supplier
This article was originally published in The Gray Sheet
Bard will acquire Specialized Health Products International for $68.4 million in cash to integrate its current supplier of winged infusion sets. The sets are used to deliver therapeutic agents through vascular access ports and "help give Bard a full range of devices for port-based therapies," Bard explains. Bountiful, Utah-based SHPI reported 2007 sales of $18.9 million, reflecting organic growth of 26% over the prior year, due in part to the popularity of its safety needle products. Net income of $2.7 million last year compares to earnings of $385,000 in 2006. Bard notes that its own 2008 financial guidance "remains unchanged." SHPI expects the deal to close in the second quarter
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