Bard to purchase Medivance for $250M

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Murray Hill, N.J.-based medical technology developer C.R. Bard will purchase Lousiville, Co.-based Medivance for $250 million.

Medivance develops tools to raise temperatures in hypothermia victims—a practice called targeted temperature management. Their Arctic Sun products provide clinicians the ability to manage patient temperature non-invasively.

The transaction will be structured as a merger, according to a company statement. Upon completion, Medivance will become part of the Bard Medical division. Timothy M. Ring, chairman and CEO of Bard, said Medivance’s product line will complement Bard’s critical care product offering. The merger is expected to be completed in the fourth quarter.