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Becton, Dickinson and Company (NYSE:BDX) announced Monday that it has agreed on a deal with Frazier Healthcare Partners to acquire Parata Systems, a provider of pharmacy automation solutions, for $1.525 billion.
BD, a medical technology company, said the all-cash transaction is expected to close by the end of the first half of BD’s fiscal year 2023, expanding its solutions to provide new pharmacy automation technologies.
“Parata expands BD’s solutions to a new area of the high-growth pharmacy automation space and is a prime example of BD executing our disciplined M&A strategy,” said Tom Polen, chairman, chief executive officer and president of BD. “Parata has a highly attractive financial profile and compelling value proposition that meets all of our rigorous investment criteria on growth, profitability and returns.”
Following the announcement, Stifel analyst Rick Wise said that for some time, BD has emphasized its 2025 strategy, centered in part upon shedding lower growth assets such as diabetes care and moving towards faster-growth transformative solutions.
“We view this transaction as another positive step forward in the multi-faceted BD transformation,” said the analyst.
