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Transaction Advances BD’s Entry into Next Generation Sequencing MarketOct 13, 2014
FRANKLIN LAKES, N.J., October 13, 2014 – BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, announced today that it has acquired GenCell Biosystems, a privately-held Irish biotech company that has developed proprietary technologies that address key biological analysis protocols – from library preparation of Next Generation Sequencing (NGS) to genotyping for agricultural applications.
“We are excited with the GenCell Biosystems acquisition as it provides BD entry into the Next Generation Sequencing market, a fast-growing segment with the potential to have a significant impact on healthcare,” said Linda Tharby, Group President, BD. “The acquisition gives BD access to the NGS market with a differentiated platform that will provide a base to further grow our genomics offerings.”
GenCell is an Enterprise Ireland-supported company whose headquarters and manufacturing are based in Limerick, Ireland, and operates a U.S. marketing, sales and service group in Madison, WI. Founded in 2011, GenCell has created an automated platform that has the potential to address key unmet customer needs in library preparation for Next Generation Sequencing.
Kieran Curran, CEO and founder of GenCell, commented, “We are looking forward to joining with BD to provide great solutions for our current and future customers in Next Generation Sequencing. In a short amount of time we have been able to move CLC technology from concept to product. We believe we will now be able to scale up and introduce further transformative innovation in NGS-related segments.”
Financial details on the acquisition are not being disclosed at this time. The expected impact of this transaction will be reflected in guidance that will be communicated on BD’s fourth quarter earnings call.
This press release contains certain estimates and other forward-looking statements (as defined under Federal securities laws) regarding the acquisition of GenCell Biosystems. 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 GenCell Biosystems’ operations and programs with BD's, the time and resources required to do so and the possibility that the anticipated benefits of the acquisition will not be realized; difficulties inherent in product development and delays in product introductions; the anticipated demand for GenCell Biosystems’ products; 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.
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