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news.C R Bard has signed an agreement to acquire all the outstanding shares of Specialized Health Products International, for a purchase price of $1 per share in cash, totaling approximately $68 million.
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Bard’s Access Systems subsidiary, located in Salt Lake City, Utah, will assume marketing responsibility for the related products. The company expects to complete the transaction following approval by the shareholders of Specialized Health Products and customary closing conditions, including Hart-Scott-Rodino clearance.
Timothy Ring, chairman and CEO of Bard, said: “The SafeStep technology provides a differentiated approach to reducing needlestick injuries and the associated risk of transmitting blood-borne pathogens. This acquisition represents a good strategic addition to our port franchise.”