- Becton, Dickinson & Company or BD (NYSE: BDX) to acquire Parata Systems for US$1.525 billion.
- The deal is likely to close by the end of the first half of fiscal 2023 for BD.
- The pharmacy automation market is set to grow approximately 10% yearly to US$1.5 billion over the next years in the US.
Becton, Dickinson and Company or BD (NYSE: BDX) revealed on Monday that it would take over Parata Systems in an all-cash US$1.525 billion deal.
Medical technology company BDX has reached a definitive agreement to acquire Parata Systems, the innovative provider of pharmacy automation solutions company.
Supporting a growing network of pharmacies, Parata Systems’ core competencies include reducing costs, enhancing patient safety, and improving patient experience.
With its innovative pharmacy automation solutions, Parata will provide Becton, Dickinson & Company access to a new US$600 million pharmacy automation market segment.
The pharmacy automation systems market has witnessed robust growth in recent years due to a breakout of various diseases and a call for thwarting prescription and dispensing anomalies.
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Acquisition of Parata Systems to bolster BD
The pharmacy automation market is set to grow approximately 10% yearly to US$1.5 billion over the next years in the US.
So, this acquisition deal will help BD grow and augment its strategies for the future.
The agreement will help increase BD’s transformative solutions for new pharmacy automation technologies in hospitals, pharmacies, care centers, and home settings.
The proposed deal will encourage long-term strategies of BD to push for innovation in smart connected care and improve new care settings.
Becton expects the merger to generate and add to the revenue growth, adjusted operating margins, and adjusted EPS (earnings per share). The company is also hopeful that the deal will scale up the long-range sales and earnings growth profile.
Once the regulatory clearances come, and after fulfilling customary closing conditions, the deal will go through between BD and Parata Systems. It will likely be closed by the end of the first half of the fiscal year 2023 for BD.
Becton, Dickinson deals in medical supplies, intervention devices, and other innovative products. It is also known for the first insulin syringe and blood collection tube.