Tuesday, November 22, 2011

BARRX Medical Acquired By Covidien

Sunnyvale-based BARRX Medical, a developer of minimally invasive medical devices, said yesterday that it has agreed to be acquired by Coviden. The deal is worth approximately $325M, plus future earn out. BARRX develops endoscopy devices used to remove precancerous tissue from the gastrointestinal tract. BARRX was venture backed by Alloy Ventures, Delphi Ventures, Frazier Healthcare Ventures, Highland Capital, Montagu Newhall Associates, and Sutter Hill Ventures.