C.R. Bard Inc. this week agreed to acquire all the outstanding shares of Specialized Health Products International Inc., based in Bountiful.
New Jersey-based Bard will pay $1 per share in cash, totaling about $68.4 million. Specialized Health's stock has been trading at about 83 cents per share during the past month. The transaction is expected to close late in the second quarter.
Bard's Access Systems subsidiary, located in Salt Lake City, will assume marketing responsibility for the related products.
Specialized Health manufactures and markets safety needles and related products for the medical industry. It announced this week that 2007 revenue was $18.9 million, up 43 percent from the previous year, and that net income rose from $385,000 in 2006 to $2.7 million last year.
Bard develops, manufactures and markets medical technologies.