C.R. Bard Snaps Up Medivance for $250 million

C. R. Bard Inc. will acquire Medivance Inc. for $250 million.

Once the transaction is completed, Medivance will become part of the firm’s Bard Medical division.

Medivance, based in Louisville, Colo., offers medical technology in the field of therapeutic hypothermia. Accurate manipulation of body temperature is used for a variety of critically ill patients.

Medivance is a good fit in C.R. Bard’s critical care business and their technology addresses a large unmet need in a market that’s growing double digits, Bard CEO Timothy M. Ring said in a statement.

Based on the anticipated completion of the merger in the fourth quarter, Bard expects the dilution impact to be immaterial to earnings per share in 2011.

Bard, headquartered in Murray Hill, N.J., provides medical technologies in the fields of vascular, urology, oncology and surgical specialty products.