Franklin Lakes, NJ -- BD (Becton, Dickinson and Company) (NYSE: BDX) announced today that it signed a definitive agreement to acquire HandyLab, Inc., an Ann Arbor, Michigan-based company that develops and manufactures molecular diagnostic assays and automation platforms. The acquisition is subject to regulatory approvals and is expected to close during the first quarter of fiscal year 2010. The financial terms of the agreement were not disclosed.
Consistent with BD's stated acquisition strategy, and building upon a previously announced development and distribution agreement between BD and HandyLab earlier in 2009, the acquisition would further extend BD's commitment to the novel HandyLab instrumentation technology to support BD's molecular diagnostics strategy.
"HandyLab has developed and commercialized a flexible automated platform for performing molecular diagnostics which is an ideal complement to our molecular diagnostics offerings," said Vincent A. Forlenza, BD President. "We believe this new platform enables both our healthcare-associated infections offering and future expansion into other molecular opportunities."
BD plans to place its BD GeneOhm™ molecular assays for Methicillin-resistant Staphylococcus aureus (MRSA), Clostridium difficile and Vancomycin-resistant Enterococcus (VRE) onto the HandyLab platform and market them as the new BD MAX™ system. The flexibility of this novel platform will allow further expansion of the BD molecular diagnostic menu. BD senior management will address this announcement during the Company's fiscal fourth quarter earnings call on November 4, 2009, which will be broadcast live on BD's website, www.bd.com/investors, at 10:00 a.m. (ET).
BD is a leading global medical technology company that develops, manufactures and sells medical devices, instrument systems and reagents. The Company is dedicated to improving people's health throughout the world. BD is focused on improving drug delivery, enhancing the quality and speed of diagnosing infectious diseases and cancers, and advancing research, discovery and production of new drugs and vaccines. BD's capabilities are instrumental in combating many of the world's most pressing diseases. Founded in 1897 and headquartered in Franklin Lakes, New Jersey, BD employs approximately 29,000 people in approximately 50 countries throughout the world. The Company serves healthcare institutions, life science researchers, clinical laboratories, the pharmaceutical industry and the general public. For more information, please visit www.bd.com.
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