Stock

BD entering the new pharmacy automation solutions space via the Parata Systems acquisition

Becton, Dickson and Company (NYSE: BDX), a top medical tech corporation also known as BD, and leading private equity company, Frazier Healthcare Partners, announced they had entered into a definitive merger agreement whereby BD is to acquire Parata for a consideration price of about $1.5 billion.

Parata System’s portfolio of new and exciting pharmacy automation solutions drives an ever-growing network of pharmacy establishments to enhance patient experience, improve patient safety and reduce costs. Significant macro trends like increased clinical demands, centralization of pharmacy services, wage inflation and clinician shortages are helping drive the demand for more intelligent workflow systems.

How does top management feel?

BD President, Chief Executive Officer and Chairman, Tom Polen, said:

Parata has a highly attractive financial profile and compelling value proposition that meets all of our rigorous investment criteria on growth, profitability and returns. With the addition of Parata, BD further advances our 2025 growth strategy around smart, connected care and enabling new care settings.

He claimed that Parata will help expand their company’s solutions to a new space the of high-growth pharmacy automation industry and is a good example of them executing their disciplined M&A strategy. Parata Chief Executive Officer, Rob Kill, added:

BD and Parata share a common purpose with closely aligned cultures. We are very proud of the company the team has built at Parata over the past 21 years and feel BD is a great home for our company, innovative solutions and technology, and Parata’s team members.

Mr Kill claimed that the combination will further advance their goal of powering pharmacy establishments to help improve lifestyle conditions.

Details of the transaction

The deal is an all-cash transaction worth $1.525 billion and both parties expect to close the transaction by the end of BD’s second quarter in the 2023 fiscal year. The deal is consistent with the company’s balanced and disciplined capital allocation strategy.

The post BD entering the new pharmacy automation solutions space via the Parata Systems acquisition appeared first on Invezz.

Disclaimer: MonopolyWinnersUpdates.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 MonopolyWinnersUpdates.com. All Rights Reserved.

To Top