Becton Dickinson (NYSE:BDX) said today it closed the divestiture of its soft tissue core needle biopsy line and Aspira product line to Merit Medical (NSDQ:MMSI) for $100 million.
Assets in the sale include the Achieve programmable automatic biopsy system, Temno biopsy system, Tru-Cut biopsy needles and the Aspira pleural effusion drainage kits and peritoneal drainage systems, Merit Medical said.
South Jordan, Utah-based Merit Medical said the newly acquired products will be sold by both its direct sales force and distribution partners. The company added that it expects the acquisition to be accretive to both GAAP and non-GAAP earnings this year, with annualized incremental revenues in the range of $42 million to $48 million.
“This transaction has been instructional and informative as we have navigated the process to closure. We continue to be positive about the products and opportunities as we look forward. Transition and execution are now the keys. Our global sales force and distribution partners are in the process of training. Combined with our Corvocet full core biopsy system and our Laurane bone biopsy products, we now offer a portfolio of products to meet our customers’ needs. We will discuss the anticipated effects of the transaction on our 2018 operating and financial results during our upcoming conference call on February 28th,” Merit Medical chair & CEO Fred Lampropoulos said in a prepared statement.
Franklin Lakes, N.J.-based BD said the sale satisfies the remaining contingencies from its acquisition of C.R. Bard, which closed last December, according to a press release.
