BD Statement on MOFCOM Clearance of Bard Acquisition
Dec 28, 2017
FRANKLIN LAKES, N.J., Dec. 28, 2017 – BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company issued the following statement regarding today’s clearance by the Ministry of Commerce of the People's Republic of China (MOFCOM) for BD to acquire C. R. Bard (NYSE: BCR), contingent on BD divesting its soft tissue core needle biopsy product line:
"MOFCOM clearance was the final regulatory approval needed to complete the Bard acquisition,” said Vincent A. Forlenza, chairman and CEO of BD. “We look forward to closing the transaction and welcoming Bard’s products and associates to the BD family."
The proposed acquisition remains subject to the satisfaction of customary closing conditions. BD and Bard currently expect the proposed acquisition to close on Friday, Dec. 29.
Separately, BD's proposed divestiture of its soft tissue core needle biopsy product line to Merit Medical is conditioned on MOFCOM approval of Merit as the purchaser.
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 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.
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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 acquisition of Bard by BD that involves substantial risks and uncertainties, including, among other things, risks related to the satisfaction of the conditions to closing the acquisition in the anticipated timeframe or at all. These statements are based on the current expectations of BD management and these statements speak only as of the date of this document. 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.