Three days before Thanksgiving, healthcare behemoth Covidien announced that it will gobble up Barrx Medical for $325 million in cash.
Barrx is best known for its Halo bipolar radiofrequency ablation devices used to treat Barrett’s esophagus syndrome. Covidien said in a statement that the move will allow it to increase its penetration of the gastroenterology market as of January, when it expects to clear closing and regulatory conditions.
Barrx and its 130 employees in Sunnyvale, Calif., will operate as a division of Covidien.
Barrett’s esophagus syndrome is a precancerous condition of the lining of the esophagus often caused by gastro-esophageal reflux disease.
Headquartered in Dublin, Ireland, Covidien employs 41,000 in 65 countries.