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Johannesburg, Dec 29, 2017 – BD (Becton, Dickinson and Company), a leading global medical technology company, has completed the acquisition of C. R. Bard, Inc., creating a new healthcare industry leader with approximately $16 billion in annualized revenue.
The combined company is uniquely positioned to improve both the treatment of disease for patients and the process of care for healthcare providers. The transaction builds on BD's leadership in medication management and infection prevention with an expanded offering of solutions across the care continuum. Additionally, Bard's strong product portfolio and innovation pipeline will increase BD's opportunities in fast-growing clinical areas, and the combination will enhance growth opportunities for the combined company in non-U.S. markets, including those in South and southern Africa.
“This is a historic moment for BD as we welcome Bard and its 16,000 associates to BD,” said Vincent A. Forlenza, chairman and CEO. “These companies each have a legacy of more than 100 years of advancing the world of health and supporting those on the frontlines of healthcare. We look forward to continuing to lead the industry through innovation and partnerships that bring more valuable solutions to our customers and their patients.”
Under the terms of the transaction, upon completion of the acquisition, Bard became a wholly owned subsidiary of BD. BD will continue to trade on the New York Stock Exchange(NYSE: BDX) while Bard shares have ceased trading and were delisted from the Exchange in the end of December 2017.
Reflecting on the development for the South and sub-Saharan African markets, Ian Wakefield, Country General Manager for BD Africa said: “In keeping with the BD purpose of Advancing the world of health, this merger enables our new company to bring more comprehensive, clinically relevant solutions to customers and patients in the region. We believe we will be able to offer unique perspectives and solutions to help solve our shared customers’ biggest challenges.”
Wakefield noted that BD and Bard customers and partners can anticipate a gradual transition with minimal immediate change. “Our newly integrated customer teams will strive to make the merger a positive experience for all role-players, and will ensure clear and timeous communication about any changes that can affect customers’ businesses.”
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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.