- BD enters growing pharmacy automation market segment by
offering a comprehensive set of technologies across the care
continuum
- Addition of Parata aligns with two key tenets of BD's
innovation strategy: driving smart, connected care and enabling new
care settings
FRANKLIN
LAKES, N.J., July 18,
2022 /PRNewswire/ -- BD (Becton, Dickinson and
Company) (NYSE: BDX) today announced it has completed the
acquisition of Parata Systems.
Parata advances BD's transformative solutions strategy by
providing a portfolio of innovative pharmacy automation solutions
that power a growing network of pharmacies to reduce costs, enhance
patient safety and improve the patient experience for retail,
hospital and long-term care pharmacies. As a combined company, BD
is positioned to offer a comprehensive set of technologies to the
$600 million pharmacy automation
market segment that is expected to grow approximately 10% annually
to $1.5 billion in the U.S. alone
over 10 years.
"Completing this acquisition represents an important step
towards advancing our 2025 growth strategy around smart, connected
care and enabling new care settings," said Tom Polen, chairman, chief executive officer and
president of BD. "I'd like to officially welcome the Parata team to
BD as we join together to uniquely provide a more comprehensive set
of smart, connected care technologies to support our customers as
they expand care to new settings and centralize their pharmacy
operations."
The acquisition builds on BD's legacy and experience of
seamlessly integrating teams to drive future growth and innovation.
The Parata portfolio will become part of the solutions offered by
BD's Medication Management Solutions business within the BD Medical
segment. Together, the combined BD and Parata team will help
pharmacy leaders address critical trends, such as clinician
shortages, wage inflation, centralization of pharmacy services and
increased clinical demands on pharmacy staff.
For additional information about the transaction, please
reference the Investor Presentation and Transaction Announcement
Press Release issued on June 6, 2022,
both available on the Investor page on BD.com.
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 75,000
employees have a passion and commitment to help enhance the safety
and efficiency of clinicians' care delivery process, enable
laboratory scientists to accurately detect 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. For more information on BD, please visit
bd.com or connect with us on LinkedIn at
www.linkedin.com/company/bd1/ and Twitter @BDandCo.
FORWARD LOOKING STATEMENTS
This press
release contains certain estimates and other forward-looking
statements (as defined under Federal securities laws) regarding the
anticipated benefits of the acquisition of Parata Systems and
future growth in its relevant market segments. Forward looking
statements generally are accompanied by words such as "will",
"expect", or similar words, phrases or expressions. These
statements are based on the current expectations of BD management
and are subject to a number of risks and uncertainties regarding
Parata's business and the proposed acquisition, and actual results
may differ materially from any anticipated results described,
implied or projected in any forward-looking statement. These risks
and uncertainties include, but are not limited to, risks relating
to the integration of Parata's operations, products and employees
into BD and the time and resources required to do so and the
possibility that the anticipated benefits of the proposed
acquisition will not be realized or will not be realized within the
expected timeframe; the loss of key senior management or other
associates; competitive factors, including the development of new
technologies by other companies and pricing and market share
pressures; changes in healthcare or other governmental regulation;
risks relating to the ability to maintain favorable supplier
arrangements and relationships; changes in regional, national or
foreign economic conditions, as well as other factors discussed in
BD's filings with the Securities Exchange Commission. BD does not
intend 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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Media:
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Investors:
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Troy
Kirkpatrick
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Francesca
DeMartino
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VP, Public
Relations
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SVP, Head of Investor
Relations
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858.617.2361
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201.847.5743
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troy.kirkpatrick@bd.com
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francesca.demartino@bd.com
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SOURCE BD (Becton, Dickinson and Company)