FRANKLIN LAKES, N.J.,
March 19, 2018 /PRNewswire/
-- BD (Becton, Dickinson and Company) (NYSE: BDX), a leading
global medical technology company, announced today that it has
signed a definitive agreement to divest its remaining, minority
stake in Vyaire Medical to funds managed by Apax Partners.
According to the terms of the agreement, BD will receive
$435 million in cash for its
remaining ownership of Vyaire Medical. The transaction is expected
to close by the end of April, subject to customary closing
conditions. The company expects to record a gain on the transaction
at the time of closing. BD intends to use the proceeds in line with
its broader capital allocation strategy. The divestiture will not
have a material impact to BD revenue or adjusted earnings for
fiscal 2018.
About BD
BD is one of the largest global
medical technology companies in the world and is advancing the
world of health by improving medical discovery, diagnostics and the
delivery of care. The company supports the heroes on the frontlines
of health care by developing innovative technology, services and
solutions that help advance both clinical therapy for patients and
clinical process for health care providers. BD and its 65,000
employees have a passion and commitment to help improve patient
outcomes, improve the safety and efficiency of clinicians' care
delivery process, enable laboratory scientists to better diagnose
disease and advance researchers' capabilities to develop the next
generation of diagnostics and therapeutics. BD has a presence in
virtually every country and partners with organizations around the
world to address some of the most challenging global health issues.
By working in close collaboration with customers, BD can help
enhance outcomes, lower costs, increase efficiencies, improve
safety and expand access to health care. In 2017, BD welcomed C. R.
Bard and its products into the BD family. For more information on
BD, please visit bd.com.
Forward Looking Statements
This press
release contains "forward-looking statements" within the meaning of
the federal securities laws, including Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, related to the pending
divestiture of BD's remaining, minority stake in Vyaire Medical
that involve risk and uncertainty, including the risk that the
transaction may not be completed or that it will not be completed
in the anticipated timeframe. Forward looking statements
generally are accompanied by words such as "expect", "intend",
"will," or other similar words or variations of these words.
These statements are based on the current expectations of BD
management, and these statements speak only as of the date of this
release. BD undertakes no obligation to update any forward-looking
statements to reflect events or circumstances after the date
hereof, except as required by applicable laws or regulations.
Contacts:
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Troy
Kirkpatrick
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Monique N.
Dolecki
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BD Public
Relations
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BD Investor
Relations
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858.617.2361
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201.847.5378
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troy.kirkpatrick@bd.com
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Monique_Dolecki@bd.com
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SOURCE BD (Becton, Dickinson and Company)