Technology News

Bard Acquires Lutonix For Angioplasty Balloon

Wednesday, December 21, 2011 5:01:00 AM PDT | VentureDeal Staff

   Murray Hill, New Jersey  -- C. R. Bard (NYSE: BCR) announced that it has acquired medical device maker Lutonix.

Lutonix is conducting an investigational device exemption (IDE) trial for using drug-coated balloons for the treatment of peripheral arterial disease.

The company says that the market for drug-coated balloons could "approach $1 billion annually over the next decade."

Bard paid approximately $225 million at closing, with a milestone payment of an additional $100 million upon PMA approval of Lutonix' balloon device.

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