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news.CR Bard has signed an agreement to acquire the assets of the LifeStent product family from Edwards Lifesciences. The transaction includes cash payments of approximately $74 million upon closing and up to an additional $65 million on the achievement of certain milestones including regulatory approvals.
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Bard’s peripheral vascular division, located in Tempe, Arizona, will assume marketing responsibility for the product. The company expects to close the transaction following the satisfaction of customary conditions, including Hart-Scott-Rodino clearance.
Timothy Ring, chairman and CEO, said: “The acquisition of the LifeStent product family is a significant strategic addition to our portfolio of non-coronary stent and stent graft products. Pending FDA approval, the LifeStent SFA product, the Flair Arteriovenous Access Stent Graft and E Luminexx Iliac Stent will together give Bard one of the broadest product offerings for peripheral vascular stenting.”