Liberator Medical Holdings Inc fka LBMH

[fourkids_9pets]

C.R. Bard closes $181m Liberator Medical buy
by Brad Perriello - MassDevice

C.R. Bard acquires Liberator MedicalC.R. Bard (NYSE:BCR) said yesterday that it closed the $181 million acquisition of Liberator Medical (NYSE:LBMH), a direct-to-consumer distributor of durable medical equipment.

The deal called for Murray Hill, N.J.-based Bard to pay $3.35 per share for Liberator, a 36% premium over Liberator’s 90-day average closing price through Nov. 19, 2015, the day before the deal was announced.

At the time, Bard said its share of the Stuart, Fla.-based distributor’s offering is small and that it intends to continue to distribute other companies’ products through Liberator.

“This acquisition is a key building block in our strategy to access faster growing markets. As the population ages and more healthcare is expected to occur outside of the hospital setting, we believe that having direct access to the patient in the home is strategically important. We look forward to adding a strong distribution platform with potential for future growth to our product and technology platforms. We also look forward to continuing to work with the other manufacturers that are part of Liberator’s product offering,” chairman & CEO Timothy Ring said at the time.

Bard said last year that it expects the merger to provide a slight boost to adjusted earnings per share next year, on sales of roughly $70 million. In 2017, the Liberator business is expected to add 5¢ to 10¢ to adjusted EPS and contribute to organic sales growth.

(c) 2016 MassDevice Distributed by Newstex, LLC

The views expressed in any and all content distributed by Newstex and its re-distributors (collectively, the "Newstex Authoritative Content") are solely those of the respective author(s) and not necessarily the views of Newstex or its re-distributors. Stories from such authors are provided "AS IS," with no warranties, and confer no rights. The material and information provided in Newstex Authoritative Content are for general information only and should not, in any respect, be relied on as professional advice. Newstex Authoritative Content is not "read and approved" before it is posted. Accordingly, neither Newstex nor its re-distributors make any claims, promises or guarantees about the accuracy, completeness, or adequacy of the information contained therein or linked to from such content, nor do they take responsibility for any aspect of such content. The Newstex Authoritative Content shall be construed as author-based content and commentary. Accordingly, no warranties or other guarantees are offered as to the quality of the opinions, commentary or anything else appearing in such Newstex Authoritative Content. Newstex and its re-distributors expressly reserve the right to delete stories at its and their sole discretion.


Source: Online Publications (January 22, 2016 - 6:22 AM EST)

News by QuoteMedia
www.quotemedia.com