Rochester Medical purchased by New Jersey medical device maker

A New Jersey medical device maker is buying Rochester Medical of Stewartville, Minn., for about $262 million in cash.

Rochester Medical makes catheters and other products for home treatment of male urinary incontinence.

C.R. Bard, the company buying Rochester Medical, manufactures and markets urology, surgical and other medical products. The deal will expand Bard's homecare urology products business, the company said. The deal is expected to close later this year.

Rochester Medical says the merger allows the combined companies to offer a more comprehensive range of products to customers. Bard had nearly $3 billion in revenue last year. Rochester Medical's sales were about $60 million.