Becton Dickinson to purchase C.R. Bard for $24 billion
BD said that it would create a new BD Interventional business to incorporate its newly acquired Bard assets into. The company also named former medical segment prez Tom Polen to head the newly created segment.
Both BD and Bard officials touted the benefits of the proposed merger, though analysts at S&P said they expected to lower BD’s corporate credit rating over the deal.
“Combining with Bard will accelerate our ability to offer more comprehensive, clinically relevant solutions to customers and patients around the globe, creating a strong partner for healthcare providers who are increasingly focused on delivering better outcomes at a lower total cost. Our 2 purpose-driven organizations are well-aligned strategically, sharing a strong track record of performance and a deep commitment to addressing unmet needs in today’s challenging healthcare environment,” BD CEO & chair Vince Forlenza said in prepared remarks.
Forlenza said he expected the transaction to provide a meaningful contribution on both a near- and long-term basis to BD’s plans for revenue growth and margin expansion.
Bard’s chairman & CEO Tim Ring added that he was confident the combination “will deliver meaningful benefits for customers and patients as we see opportunities to leverage BD’s leadership, especially in medication management and infection prevention.”