M&A Deal Summary

Bayer Acquires Medrad

On June 29, 2006, Bayer acquired medical products company Medrad from Schering AG

Acquisition Highlights
  • This is Bayer’s 1st transaction in the Medical Products sector.
  • This is Bayer’s 1st transaction in the United States.
  • This is Bayer’s 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2006-06-29
Target Medrad
Sector Medical Products
Buyer(s) Bayer
Sellers(s) Schering AG
Deal Type Divestiture

Target

Medrad

Indianola, Pennsylvania, United States
Medrad, Inc. is a manufacturer and distributor of high tech medical devices that enable or enhance diagnostic and therapeutic medical procedures for computed tomography, magnetic resonance, and cardiovascular applications.

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Buyer(S) 1

Buyer

Bayer

Leverkusen, Germany
Category Company
Founded 1863
Sector Life Science
Employees98,189
Revenue 47.6B EUR (2023)
DESCRIPTION
Bayer office building in North Sydney, Australia.
Bayer office building in North Sydney, Australia.

Bayer is a global enterprise with core competencies in the fields of health care, agriculture and high-tech polymer materials. As an innovation company, it sets trends in research-intensive areas. Bayer’s products and services are designed to benefit people and improve the quality of life. At the same time, the Group aims to create value through innovation, growth and high earning power. Bayer was founded in 1863 and is based in Leverkusen, Germany.

DEAL STATS #
Overall 2 of 20
Sector (Medical Products) 1 of 3
Type (Divestiture) 1 of 2
State (Pennsylvania) 1 of 1
Country (United States) 1 of 9
Year (2006) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-08-15 Wipak Walothen

Bomlitz, Germany

Wipak Group holds a rank in the development and manufacture of multilayer films (in particular barrier films) and high-end packaging solutions in Europe.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-07-06 Metrika

Sunnyvale, California, United States

Metrika is a manufacturer and marketer of single-use diabetes monitoring products. Using proprietary technology, Metrika integrates miniaturized digital electronics, micro-optics, and dry reagent chemistries into easy-to-use hand-held, low-cost, single-use monitoring devices.

Buy $57M

Seller(S) 1

SELLER

Schering AG

Berlin, Germany
Category Company
Sector Healthcare Services
DESCRIPTION

DEAL STATS #
Overall 1 of 1
Sector (Medical Products) 1 of 1
Type (Divestiture) 1 of 1
State (Pennsylvania) 1 of 1
Country (United States) 1 of 1
Year (2006) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-01-12 Mitsui Pharmaceuticals

Tokyo, Japan

Mitsui Pharmaceuticals is focusing on the three main areas of Oncology, Cardiovascular and Central Nervous System, providing a perfect strategic fit. Mitsui Pharmaceuticals's distinctive expertise and experience in the development of therapeutic products and its sales.

Buy -
Mergr

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