BD Acquires Alverix, Inc.
Advances BD Diagnostics’ Point-of-Care Strategy
Jan 7, 2014
FRANNKLIN LAKES, N.J., January 7, 2014 – BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, announced today that it has acquired Alverix, Inc., a privately-held diagnostic instrument company known for its optoelectronics expertise. Since 2008, BD and Alverix have collaborated in the point-of-care diagnostic market with the design and development of the BD Veritor™ System, which has been very well received in hospitals, laboratories, physician offices and clinics.
“Point-of-care testing is increasingly an integral part of patient healthcare in both developed and developing countries and BD is committed to expanding in this space,” said William A. Kozy, Chief Operating Officer and Executive Vice President, BD. “This acquisition enables BD to continue to strengthen and grow our point-of-care testing position.”
Alverix, headquartered in San Jose, California, is a key supplier to BD Diagnostics’ point-of-care instrument platform. The BD Veritor System integrates Advanced Particle and Adaptive Read Technology with a compact reader, providing healthcare providers an objective interpretation of diagnostic results within approximately 10 minutes. BD’s previous development agreement with Alverix included the launch of the BD Veritor System for rapid detection of Flu A+B, Group A Strep, Adenovirus, and Respiratory Syncytial Virus (RSV) for use in clinical laboratories and in physicians’ offices.
BD acquired Alverix for $40 million. The transaction is expected to be minimally dilutive for fiscal year 2014, and will not impact BD’s previously communicated 2014 earnings guidance.
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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This press release contains certain estimates and other forward-looking statements (as defined under Federal securities laws) regarding the acquisition of Alverix, Inc. These forward-looking statements may be identified by the use of the words "believe", "expect" or other words of similar meaning in conjunction with statements regarding the potential impact of the acquisition. All such statements are based upon current expectations of BD and involve a number of business risks and uncertainties. Actual results could vary materially from anticipated results described, implied or projected in any forward-looking statement. With respect to forward-looking statements contained herein, factors that could cause actual results to vary materially from any forward-looking statement include, but are not limited to: the ability to successfully integrate Alverix's operations and programs with BD's and the time and resources required to do so; difficulties inherent in product development and delays in product introductions; competitive factors; pricing and market pressures; as well as other factors discussed in BD's filings with the Securities and Exchange Commission. We do 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.