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Medical-device firm C.R. Bard plans to acquire Louisville-based Medivance — a venture-backed firm that specializes in temperature-management therapies — for $250 million, the companies announced Tuesday.
As a result of the transaction, Medivance will become part of the Bard Medical division, the Daily Camera reported.
Robert Kline, Medivance’s founder, president and chief executive, said it’s unclear how his company’s workforce and operations could be affected by the acquisition. He added that Bard officials have been “very supportive” of the business.
About 70 people work at Medivance’s Louisville headquarters.
