C.R. Bard To Buy SenoRx For $200M

NEW YORK (AP) -- Medical device maker C. R. Bard Inc. said Wednesday it will buy SenoRx Inc., which makes devices used in detecting and treating breast cancer, for about $200 million.

Bard said the deal values Irvine, Calif.-based SenoRx at $11 per share. That is a 13.6 percent premium from the stock's closing price on Tuesday. SenoRx said its board has approved the deal, and pending approval from regulators and SenoRx shareholders, the sale is expected to close during the third quarter.

Bard, of Murray Hill, N.J., said the acquisition will reduce its net income by 8 to 11 cents per share in 2010.

SenoRx's products include the EnCor breast biopsy system, Gel Mark breast tissue markers, and Contura balloon catheter. Its revenue totaled $55.6 million in 2009. Bard said SenoRx will become part of its peripheral vascular unit.

SenoRx said that including cash acquired, the deal is worth $213 million.

In morning trading, SenoRx stock rose $1.13, or 11.7 percent, to $10.81. Earlier it reached a three-year high of $10.97. Bard shares rose 1 cents to $85.50.

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