New Jersey healthcare giant Becton Dickinson & Co. (NYSE:BDX) acquired pharmaceutical management systems maker Cato Software Solutions in a closed-doors deal this week.
BD hopes to use the merger to better position itself in the pharmacy market. The financial terms of the acquisition were not disclosed.
Cato has a suite of medication safety solutions that aim to automate drug delivery documentation and prevent potential medication errors in the pharmacy and in clinical settings, according to a press release.
"We believe the acquisition of Cato Software Solutions will help us accelerate BD’s growth, especially in the pharmacy segment," BD’s medical surgical systems president William Tozzi said in prepared remarks. "This is another innovative example of BD’s focus on reducing medication errors and improving work-flow efficiencies, and an extension of our long-standing commitment to healthcare worker and patient safety."
BD noted that the merger may be minimally dilutive for fiscal year 2013, although the company did not change its outlook for the year.
BDX shares were up 0.3% to $89.85 as of about 1:45 p.m. EST today.
