SenoRx Inc., an Irvine-based developer of breast cancer devices, is being acquired for $213 million by New Jersey’s C.R. Bard Inc.
C.R. Bard, which makes devices used in surgery to treat vascular and urology conditions and cancer, is offering 14% more than what SenoRx was worth at the close of trading on Tuesday.
Bard is offering cash for SenoRx.
SenoRx’s board has approved the acquisition, which still needs regulatory and shareholder approvals. The deal is expected to close in the third quarter.
Founded in 1998, SenoRx makes devices to diagnose and treat breast cancer.
The company’s products include Contura, a catheter that delivers radiation to break down cancerous tumors, and EnCor, which allows doctors to obtain multiple breast biopsy samples with a single probe insertion.
SenoRx also makes consumables, disposable products that are used by doctors in procedures with EnCor and Contura and need to be replaced frequently.
Medical device makers often look to consumables as a major source of revenue and profits.
The company had 2009 sales of $55.6 million and ranked among the county’s fastest-growing public companies last year in the Business Journal’s annual list.
SenoRx lost $2.9 million last year.
The company went public in 2007, raising $45 million. SenoRx has about 90 workers in Orange County and 155 overall.
It’s unclear how Bard will integrate SenoRx and what will happen to the local operations.
