C. R. Bard Acquires Lutonix - Set to Gain from a New
Technology - Deal Analysis from GlobalData
Reference Code: GDME0044M&A Publication Date: January 2012
1 Table of Contents
1 Table of Contents.................................................................1
1.1 List of Tables .................................................................1
1.2 List of Figures ................................................................1
2 Deal Summary .....................................................................2
2.1 Transaction Details........................................................2
3 Bard Acquires Lutonix - Set to Gain from a New Technology
.............................................................................................2
3.1 Deal Rationale ...............................................................2
3.1.1 Growth Potential of the PTCA Drug-Eluting
Balloons Market ...................................................2
3.1.2 C. R. Bard’s Inorganic Growth Strategy Led to the
Acquisition of Lutonix ...........................................3
3.1.3 The Deal will Improve Bard’s Position in the
Cardiovascular Devices Market ............................4
3.2 Company Profiles ..........................................................5
3.2.1 C. R. Bard, Inc......................................................5
3.2.2 Lutonix, Inc. ..........................................................6
4 Appendix ..............................................................................6
4.1 Research Methodology .................................................6
4.2 Secondary Research .....................................................7
4.3 Primary Research..........................................................7
4.4 Models ...........................................................................7
4.5 Forecasts.......................................................................7
4.6 Expert Panels ................................................................7
4.7 GlobalData Consulting ..................................................7
4.8 Contact Us.....................................................................8
4.9 Disclaimer......................................................................8
1.1 List of Tables
Table 1: PTCA Drug-Eluting Balloons Market, Revenue ($m),
2010-2017 ................................................................2
Table 2: PTCA Drug-Eluting Balloons, Products ....................3
Table 3: Deals by C. R. Bard, 2004-2011 ...............................3
Table 4: C. R. Bard, Inc., Net Sales by Product Division, ($m),
2008-2010 ................................................................5
Table 5: C. R. Bard, Inc., Marketed Products .........................5
1.2 List of Figures
Figure 1: PTCA Drug-Eluting Balloons Market, Revenue ($m),
2010-2017 ................................................................2
GDME0044M&A /Published JAN 2012/ Page 1
Market Analysis Alert
C. R. Bard Acquires Lutonix - Set to Gain from a New Technology
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2 Deal Summary Figure 1: PTCA Drug-Eluting Balloons Market, Revenue
($m), 2010-2017
C. R. Bard, (Bard) acquired Lutonix, Inc. for a purchase
consideration of $225m, plus an additional $100m to be paid 120
upon Pre-Market Approval (PMA) of Lutonix's product, Moxy.
100
Bard is engaged in the development, manufacture and
CAGR (2010-2017): 8.6%
marketing of medical technologies in the areas of vascular, 80
urology, oncology and surgical specialty products. Lutonix is
focused on the development and commercialization of drug- 60
coated balloon angioplasty technology through its product,
Moxy. Following the acquisition, Bard expects to begin selling 40
the device in Europe in the second half of 2012. It has already
20
received Conformité Européenne (CE) mark approval. It also
plans to begin a larger registry study concurrent with the
0
European launch to support broader marketing claims and 2010 2017
obtain additional clinical data.
Source: GlobalData, Annual Reports, SEC Filings, Investor Presentations,
The acquisition of Lutonix is part of Bard’s strategy to gradually Earning Call Transcripts, News and Press Releases, Scientific Journals, Trade
strengthen its business operations and gain from Lutonix’s Associations, Interviews with Industry Experts and Key Opinion Leaders (KOLs)
presence in the Peripheral Transluminal Coronary Angioplasty
(PTCA) drug-eluting balloons market.
Table 1: PTCA Drug-Eluting Balloons Market, Revenue
2.1 Transaction Details ($m), 2010-2017
C. R. Bard has acquired Lutonix, which is backed by a number Market Segment 2010 2017
of ven