Merit Medical has announced signing an asset purchase agreement with BD (Becton, Dickinson and company) to acquire certain assets which BD proposes to sell in connection with its proposed acquisition of CR Bard. Merit’s proposed asset acquisition is subject to the closing of BD’s proposed acquisition of Bard as well as other usual and customary closing conditions.
The assets to be acquired are soft tissue core needle biopsy products currently sold by BD under the trade names of Achieve programmable automatic biopsy system, Temno biopsy system and Tru-Cut biopsy needles. Merit understands these products are currently sold worldwide through a combination of a direct sales force and distribution partners.
Additionally, Merit proposes to acquire the Aspira pleural effusion drainage kits and the Aspira peritoneal drainage system currently marketed by Bard. Merit understands these products are currently sold primarily in the USA.
The purchase price for the product lines and related assets to be acquired is US$100 million, subject to adjustment for fluctuations in the value of transferred inventory.
“We believe this is a perfect fit for Merit,” said Merit’s chairman and chief executive officer Fred P Lampropoulos. “These products are well established with an installed base and complement Merit’s CorVocet full core biopsy system and our recently-acquired bone biopsy products.”