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Bard Acquires Neomend Amid Mixed Third Quarter Results

CR Bard Inc. announced the acquisition of private firm NeoMend Inc. Oct. 23 in conjunction with reporting mixed third-quarter results.

The deal, which has already closed, will “significantly expand” the business opportunities for Bard’s surgical specialties unit, the firm said.

The purchase price for the firm is an initial $140 million, with an additional $25 million potentially following by 2016, depending on milestones. The deal, which has already closed, will “significantly expand” the business opportunities for Bard’s surgical specialties unit, the firm said.

Neomend has only one product at this time, the Progel air leak sealant, which is the only FDA-approved intraoperative sealant of air leaks following lung resection, according to Bard. Progel...

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