Posted at: 09/04/2013 10:22 AM
(ABC 6 NEWS) -- A local medical device company is being acquired by New Jersey medical company C.R. Bard.
The deal for Rochester Medical, Inc. based out of Stewartville, is valued at $262 million dollars.
Rochester Medical is a leader in the urology marketplace.
Timothy M. Ring, Bard’s chairman and CEO, commented, “Rochester’s double-digit growth product portfolio, including their customer access programs, is a key building block in our strategy to access faster growing markets over the long-term. We believe that strengthening our position in the home care market, and specifically the large and fast-growing intermittent self-catheter segment, is strategically important at this time.”
The deal has been approved by the board of directors for each company.
To read the full release, click here.