NEW YORK (Reuters) - The New York Rangers acquired defenseman Bryan McCabe from the Florida Panthers in a bid to boost their power play and young defense, the team said on Saturday.

Florida gains forward Tim Kennedy and a third round pick in the 2011 NHL Entry Draft in exchange for the Florida captain.

"Bryan McCabe adds an established veteran presence to our young defensive corps," Rangers general manager Glen Sather said in a statement. "He can help provide offense with his strong shot on the power play, and his versatility allows him to play either the left or right side effectively."

McCabe, 35, who has topped 40 points five times in his 15-season NHL career, has five goals and 17 assists in 48 games this season.

The Rangers ranked seventh in the Eastern Conference after Friday's play but are just four points away from the fifth place Washington Capitals.

(Reporting by Gene Cherry in Salvo, North Carolina; Editing by Frank Pingue)