Becton Dickinson to acquire Bard for $24bn
Medical technology company Becton Dickinson (BD) will acquire C R Bard, a business in the same industry, for $24 billion.
Announced yesterday, April 23, the agreement has been approved by the boards of directors of both companies.
Vince Forlenza, BD’s chairman and CEO, said: “Combining with Bard will accelerate our ability to offer more comprehensive, clinically relevant solutions to customers and patients around the globe, creating a strong partner for healthcare providers who are increasingly focused on delivering better outcomes at a lower total cost.”
He added: “We expect the transaction to contribute meaningfully to BD’s plans for revenue growth and margin expansion, and generate outstanding value both near and long-term for shareholders.”
Tim Ring, Bard’s chairman and CEO, said that Bard is confident that the acquisition will deliver meaningful benefits to customers and patients.
The transaction is expected to close in the fall of 2017.
BD claims that it has put together a plan for a “seamless integration” with Bard.
The company also acquired CareFusion, a healthcare service business, for $12.2 billion in 2015.
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