“Today is a historic day for BD as we welcome Bard and its 16,000 associates to BD,” chairman & CEO Vincent Forlenza said in prepared remarks.
“These companies each have a legacy of more than 100 years of advancing the world of health and supporting those on the frontlines of health care. We look forward to continuing to lead the industry through innovation and partnerships that bring more valuable solutions to our customers and their patients.”
According to the terms of the buy-out, Bard is now a wholly-owned subsidiary of BD and each outstanding share of Bard common stock has been converted to the right to receive $222.93 in cash without interest and 0.5077 of a share of BD common stock.
Now that the acquisition is complete, Bard shares will stop trading and will be delisted from the New York Stock Exchange, the company reported.
Becton Dickinson said is doesn’t expect the deal to have a material impact on its financial results in the first quarter of fiscal 2018, which ends on Dec. 31, excluding transaction-related expenses.
The company added that it expects the acquisition to bring about low-single digit accretion to adjusted EPS in fiscal 2018 and high-single digit accretion in fiscal 2019.
At DeviceTalks Boston, Tyler Shultz will give attendees an inside look at Theranos and how he was able to sound the alarm after he realized the company was falling apart. Shultz will take attendees behind the story that everyone is talking about: the rise and fall of Elizabeth Holmes and her diagnostic company, Theranos.
Join Shultz and 1,000+ medical device professionals at the 8th annual DeviceTalks Boston.