BD Statement on Divestiture of Advanced Bioprocessing Business
FRANKLIN LAKES, N.J., Sept. 7, 2018
FRANKLIN LAKES, N.J., Sept. 7, 2018 /PRNewswire/ -- BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, today issued the following statement regarding the sale of its Advanced Bioprocessing business to Thermo Fisher Scientific:
"The sale of our Advanced Bioprocessing business will create greater focus for our Life Sciences segment where BD has outstanding opportunities to contribute significant innovation for disease and therapy research and clinical diagnostics," said Patrick Kaltenbach, president of Life Sciences for BD. "BD remains committed to our customers in the clinical, life sciences and industrial segments and will continue to sell all of our media product offerings to these important partners."
BD Advanced Bioprocessing has annualized revenue of approximately $100 million. For fiscal year 2018, BD estimates the contribution from the Advanced Bioprocessing business to earnings per share of approximately $0.13 to $0.15 on a full-year basis. The company expects to record a tax gain on the transaction at the time of closing. The transaction is subject to customary closing conditions and is expected to close in early 2019.
BD is one of the largest global medical technology companies in the world and is advancing the world of health by improving medical discovery, diagnostics and the delivery of care. The company supports the heroes on the frontlines of health care by developing innovative technology, services and solutions that help advance both clinical therapy for patients and clinical process for health care providers. BD and its 65,000 employees have a passion and commitment to help improve patient outcomes, improve the safety and efficiency of clinicians' care delivery process, enable laboratory scientists to better diagnose disease and advance researchers' capabilities to develop the next generation of diagnostics and therapeutics. BD has a presence in virtually every country and partners with organizations around the world to address some of the most challenging global health issues. By working in close collaboration with customers, BD can help enhance outcomes, lower costs, increase efficiencies, improve safety and expand access to health care. In 2017, BD welcomed C. R. Bard and its products into the BD family. For more information on BD, please visit bd.com.
FORWARD LOOKING STATEMENT
This press release contains certain estimates and other forward-looking statements (as defined under Federal securities laws) regarding the sale of BD's Advanced Bioprocessing business and the impact on BD's performance, including future earnings per share. Forward-looking statements can be identified by the use of words such as "expect", "anticipate" and similar words. All such statements are based on the current expectations of BD management and involve a number of business risks and uncertainties. A number of factors could cause actual results to vary materially from any forward-looking statement, including the risk that the transaction may not be completed or that it will not be completed in the anticipated timeframe. The forward-looking statements in this press release speak only as of the date hereof, and we do not intend to update any forward-looking statements to reflect events or circumstances after the date hereof, except as required by applicable laws or regulations.
BD Public Relations
Monique N. Dolecki
SOURCE BD (Becton, Dickinson and Company)